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Filipino labour in GCC registers $3.4bn remittance in 7M

Filipino labour in GCC registers $3.4bn remittance in 7M
Filipino transfers in Bahrain and Kuwait hiked

By: Eman Ghali

Mubasher: The international money transfer of Filipino labour in GCC countries fell by 8.36% year-on-year during the first seven months of 2019, with 96.6% of such remittances landing in Asia.

The international transfers of the period amounted to $3.45 billion during the seven-month period this year, compared to $3.76 billion in the corresponding period in 2018, according to data collected by Mubasher based on statements from the central bank of Philippines.

Meanwhile, international Filipino transfers in four countries, led by Qatar, the UAE, Oman, and Saudi Arabia, dropped by 27.65%, 15.59%, 11.16%, and 6.63%, respectively, the central bank’s data affirmed.

In contrast, Filipino transfers in Bahrain and Kuwait hiked by 69.68% and 17.19%, respectively, despite the latter’s decision to impose fees on international money transfers by expatriates.

Among Asia, Filipino transfers from GCC countries represented 96.64% of the total $3.57 billion worth of transfers from Asia to the Gulf area.