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3/25/25, 9:23 AM Tough UAE rules, less volatility in Pakistan Rupee, Egyptian Pound hit hawala money flows
Tough UAE rules, less volatility in Pakistan Rupee, Egyptian Pound hit hawala money flows
'You play by UAE rules when sending money, or you ship out', says Al Ansari's Bitar
Last updated: March 25, 2025 | 07:37
Manoj Nair, Business Editor
3 MIN READ

When it comes to sending money, play by the UAE's rules. It's the message that UAE authorities are issuing to hawaladars and senders alike,
says a top industry official.
Virendra Saklani/Gulf News Archive

Dubai: The UAE regulator’s efforts to regulate the sending of money through ‘hawala’ channels is starting to get results, according to a top
official in the local remittance industry.
Another major boost in the fight against parallel market remittances has come from the lowering of volatility in the Pakistan Rupee (when it
dropped about 20% in 2023 alone) and the Egyptian Pound (which went through multiple devaluations).
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“Hawala transactions will always be difficult to eliminate in full, but we are starting to see major remittance-receiving countries from the UAE
seeing drops in such flows,” said Mohammad Bitar, Deputy CEO of Al Ansari Financial Services.
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