Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE Exchange remits $1.7bn in 2013  Join our daily free Newsletter

MENAFN - The Peninsula - 02/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) UAE Exchange, yesterday said it remitted 1.7bn from Qatar in 2013, largely to South Asia, taking a share of over 12 percent of the total remittance outflows from the country, estimated at 13.8bn by the International Monetary Fund



The exchange said that growth in remittances from Qatar was on a moderately upward trend, largely rising on the back of the renewed hiring of overseas workers by the country's private sector. In 2012, remittances through UAE Exchange from Qatar were to the tune of 1.4bn, while the total outflows as estimated by the Qatar Central Bank were 13bn



"Most of the remittances from Qatar were to India, followed by Philippines, Bangladesh, Pakistan, UAE, Nepal, Sri Lanka, Jordan, Lebanon, Indonesia," said Promoth Manghat, Vice President, Global Operations, UAE Exchange. "The continuing infrastructure development and economic growth in Qatar would in turn lead to higher remittance volumes from Qatar in 2014," he added



GCC is estimated to have around 15 million migrant workers, with Qatar having 1.4 million migrant workers. The six-nation bloc is the third largest hub of migration in the world. Anticipating growth, UAE Exchange is also planning to expand its footprints and enhance its presence in Qatar. Currently, it has nine branches in Qatar offering diverse remittance channels including bank transfers, instant money transfers, foreign currency exchange, bill payments and payroll solutions



Across the world, UAE Exchange has 700 branches in 31 countries across five continents serving some 6.5 million customers. The remittance player has strong correspondent relationship with over 150 global banks across the world. "Out of the 414bn remittance flows to the developing world, UAE Exchange has 6 percent market share handling 25bn," said Manghat

 


The Peninsula




  MENA News Headlines
 May 24 2015 - Qatar - Mango lovers spoilt for choiceGulf Times
(MENAFN - Gulf Times) Mango lovers in Qatar have a lot to choose from this season. With many retail outlets holding special festivals dedicated to the fruit, a wide range of mangoes from across the ...

 May 24 2015 - Saudi identifies dead suicide bomber, confirms link to ISThe Peninsula
(MENAFN - The Peninsula) Saudi Arabia on Saturday identified the suicide bomber who killed 21 worshippers at a mosque for the minority Shiite community and confirmed his link to the Islamic State ...

 May 24 2015 - Qatar - Jumbo Electronics plans major expansionGulf Times
(MENAFN - Gulf Times) Video Home & Jumbo Electronics, founded by the late Jassim Mohamed Sulaiman and two of his colleagues along with the first employee and co-founder, C V Rappai, is celebrating ...

 May 24 2015 - Qatar - Barwa Bank unveils summer spend campaignGulf Times
(MENAFN - Gulf Times) Barwa Bank has announced the launch of its summer spend campaign for Visa cardholders, which rewards customers' retail purchases with extra loyalty points and the chance to go ...

 May 24 2015 - Mosque bomber was linked to IS: SaudiThe Peninsula
(MENAFN - The Peninsula) Saudi Arabia yesterday identified the suicide bomber who killed 21 worshippers in a Shi'a mosque and confirmed his link to the Islamic State."His name was Salih bin ...

 May 24 2015 - Minister visits Made in QatarGulf Times
(MENAFN - Gulf Times) HE the Minister of Labour and Social Affairs Dr Abdulla Saleh Mubarak al-Khulaifi visited the 'Made in Qatar' exhibition yesterday. He toured the exposition accompanied by Qatar ...

 May 24 2015 - 'Qatar committed to making major labour reforms'Gulf Times
(MENAFN - Gulf Times) The US-Qatar Business Council has noted that "the Qatari government is the only government in the region that has acknowledged shortcomings in the treatment of migrant workers ...

 May 24 2015 - Qatar - Commercial Bank names first winners of summer campaignGulf Times
(MENAFN - Gulf Times) Commercial Bank has announced the first winners of its summer campaign, which offers customers deals for personal, vehicle, and mortgage loans. After taking out a personal loan ...

 May 24 2015 - Qatar- Alfardan 'Luxury Residential Real Estate of Qatar'The Peninsula
(MENAFN - The Peninsula) Alfardan Properties was named winner of 'Luxury Residential Real Estate of Qatar Award' during the 2015 Luxury Lifestyle Awards at the Ritz-Carlton Hotel in Dubai.The annual ...

 May 24 2015 - Sudan president arriving todayThe Peninsula
(MENAFN - The Peninsula) Sudanese President Field Marshall Omar Hassan Al Bashir will arrive in Qatar today. Emir H H Sheikh Tamim bin Hamad Al Thani will meet him to discuss bilateral relations and ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help