Finance & Capital Market

Expatriates in UAE remit $45bn in 2019

Expatriates’ remittances from the UAE amounted to some Dh165 billion ($45 billion) in 2019, a media report said, citing figures released by the Central Bank of the United Arab Emirates.

The fourth quarter (Q4) of last year saw an increase of 1.8 per cent over the comparable period in 2018, with 15.6 per cent thereof transferred through banks and the rest via money exchange companies operating in the country, reported Emirates news agency Wam.

India took home the crown as the top-receiving country for earnings made by expats, followed by Pakistani beneficiaries, Filipinos, Egyptians, UK nationals and Bangladeshis.