Expats in UAE remit $10.8bln in Q4 2018

Pedro Gonçalves
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Expats in UAE remit $10.8bln in Q4 2018

Expats remittances from the UAE amounted to Dh39.9 billion ($10.8bn) during Q4 2018, 7.7% down against the same period in 2017, according to figures released by the Central Bank of the UAE, a media report said.

A total of AED9.5bn of the remittances were transferred through banks and AED30.4 billion through money exchange companies, state news agency WAM reported.

India was the top-receiving country for earnings made by migrants, comprising 34.2% of total remittances during Q4.

It was followed by Pakistan, comprising 9.4%, Philippines (7.2%), the United States (5.9%) and Egypt (5.5%).