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8/7/24, 11:29 AM 5% growth in individual remittances in the UAE - Aletihad News Center

5% growth in individual remittances in the UAE

5% growth in individual remittances in the UAE

7 Aug 2024 08:23

HOSAM ELDIN MUSTAFA (ABU DHABI)

The individual remittance sector in the UAE grew by nearly five percent during the first half of this year compared to
the same period in 2023, according to Mohammed Ali Al Ansari, Chairman of Al Ansari Exchange.

Digital transfers increased by 20 percent due to the rising demand for digital channels.

Remittances to Egypt saw a notable 40 percent increase during this period due to recent changes in the Egyptian
pound’s exchange rate.

Egypt remains a key destination for remittances from the UAE, ranking fifth after India, the Philippines, Pakistan, and
Bangladesh.

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