Remittance and foreign exchange firm UAE Exchange has said that it remitted around $14 billion from the UAE, largely to South Asia, during 2013, according to Arabian Business
In a statement, UAE Exchange said that growth in remittances from UAE was on an upward trend, from $13.2 billion in the previous year. Across the GCC, excluding Saudi Arabia, remittances totalled over $21 billion.
Promoth Manghat, vice president - Global Operations, UAE Exchange, said: "Most of the remittances from UAE were to India, followed by Bangladesh, Pakistan, Philippines, Sri Lanka, Nepal, Egypt, Indonesia, Jordan and Thailand."
He added that he expected remittance volumes to grow further this year due to the continuing economic growth in the UAE.
In a statement, UAE Exchange said that growth in remittances from UAE was on an upward trend, from $13.2 billion in the previous year. Across the GCC, excluding Saudi Arabia, remittances totalled over $21 billion.
Promoth Manghat, vice president - Global Operations, UAE Exchange, said: "Most of the remittances from UAE were to India, followed by Bangladesh, Pakistan, Philippines, Sri Lanka, Nepal, Egypt, Indonesia, Jordan and Thailand."
He added that he expected remittance volumes to grow further this year due to the continuing economic growth in the UAE.
Source:
Mubasher
