Indian Expats Remitted 12.95 Billion Dirham From Uae In First 3 Month Of The Year

Indian expatriates topped the list of sending remittances from United Arab Emirates (UAE) with a total cash of 12.95 billion dirham (apprx. 23,000 Crore) send to India during the first three months of the year, news agencies reported. 

According to report, money outflows from the United Arab Emirates (UAE), where 80 percent of the 10.5 million residents are foreigners, grew by 1.1 percent year-on-year to reach 37.1 billion dirham.

Indians top the list with a 34.9 percent of total remittances, followed by Pakistani nationals accounting for 9.4 percent, then Filipinos at 7.3 percent during the first three months.

Up to 75 percent of total remittances, amounting to 27.8 billion dirham, were conducted through money exchange companies during this period, an increase of 2.7 percent from the same period last year. Twenty-five percent thereof was done through banks. 

SOURCE : IIK

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