UAE exchange houses are set to increase remittance fees by 15 per cent
foreign remittances
Latest in foreign remittances
Blockchain
Blockchain remittances in spotlight in Middle East as Swiss fintech Centi eyes entry
The company says its blockchain technology could help customers to receive up to 30 percent more cash from remittances
Dubai
Dubai real estate sees surge in Indian buyers ahead of tax jump
Indian investors accounted for 20 percent of all real estate transactions in Dubai in Q1, 2023, investing close to $2 billion during the period, industry insiders said
expat remittances
Indians living in UAE and Saudi allowed to make payments through UPI
Indian expats can now make UPI payments through the government-backed system while in India or abroad through NRE accounts
expat remittances
UPI payment facility for NRIs: Remittances to India by currency exchange houses set to see big fall
Banks in GCC will also be impacted as the number of remittance transactions could come down significantly with expats resorting to few and large transfers instead of numerous small transfers
expat remittances
UAE residents plan to transfer more money in 2023, supporting family more important than saving
76% of UAE consumers planning to transfer more money next year
expat remittances
Expat Indian remittances from Middle East set to surge as rupee totters around 80 against USD
India’s decision to amend certain rules related to the FCRA to allow residents to receive up to $12,644 – up from $1,264 earlier – from their expat relatives without informing authorities is also expected to add to the remittances flow
currency market
Plunge in rupee value to push up remittances from Gulf-based expat Indians
Rupee was trading at 78.05 INR to US dollar and 21.25 INR against AED in the early trading hours on Tuesday
blockchain technology
How crypto-remittances offer Lebanese a way around defunct financial system
Lebanese have increasingly turned to cryptocurrency as a way to gain financial freedom during the ongoing banking and financial crises that erupted in late 2019, which saw the value of the local currency plummet while deposits are still holed up in banks imposing informal and illegal capital controls
Coronavirus Pandemic
Family first for HSBC UAE customers as global transfers surge during pandemic
International payments for savings and family support from UAE-based HSBC customers rises 62% to over $1.9bn in 2020
dollar indian rupees
Remittances from the Gulf to India flow fast as rupee falls in value
Indian rupee ended at 75.05 against the US dollar as trading closed on Monday, lower by 187 paise or 2.55 percent from the previous Monday, posting one of its sharpest falls in recent months
expat remittances
UAE-Pakistan remittances grow despite depressed global outflows
The World Bank estimates that global remittances fell by seven percent in 2020, but Pakistan and Bangladesh buck the trend
foreign remittances
Fiscal year-end demand, rising crude prices spook India rupee in the short-term
The rupee exchange rate is predicted to fall, and could reach 75 rupees against the dollar, which could spur higher remittances from the Gulf to India
expat remittances
Filipino remittances drop for first time in 19 years as UAE, Saudi receipts fall
Cash remittances declined by 0.8% to $29.9bn last year, according to central bank data
foreign remittances
Revealed: the importance of remittances to Lebanon’s ailing economy
Equivalent to 36.2 percent of the country’s GDP in 2020, this constitutes the third highest ratio in the world
CBUAE
Central Bank says expat remittances from UAE fell 8% in first half of 2019
Expat remittances totalled AED 80.96 billion in the first half of 2019, down from AED 88bn during the same time period in 2018
cross-border remittances
Expat remittances from Saudi Arabia see 5.86% drop
Overall remittances dropped to $3 billion in July compared to $3.2bn in July 2018