Foreign remittances hit AED39.9 bn in Q4 2018

ABU DHABI, Expats remittances from the UAE amounted to AED39.9 bn during Q4 2018, 7.7 percent down against the same period 2017, according to figures released by the Central Bank of the United Arab Emirates today.

A total of AED9.5 bn of the remittances were transferred through banks and AED30.4 bn through money exchange companies.

India took home the crown as the top-receiving country for earnings made by migrants, comprising 34.2 percent of total remittances during Q4.

They are followed by Pakistani beneficiaries, comprising 9.4 percent, then Filipinos, 7.2 percent in the third place, with US nationals making up 5.9 percent and Egyptians 5.5 percent.

Source: Emirates News Agency