Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE Exchange records $14 billion in remittances  Join our daily free Newsletter

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



(MENAFN - Khaleej Times) Global leader in remittance and foreign exchange uae exchange said on tuesday that in 2013 it remitted around 14 billion from the uae a bulk of that was to south asia

In a statement uae exchange said that the growth in remittances from uae was on an upward trend largely rising on the back of the economic growth of the country and the continuous investment in the infrastructure. in 2012 remittances through uae exchange from the uae were to the tune of 13.2 billion.


Promoth manghat vice president of global operations uae exchange said that most of the remittances from the uae were to india followed by bangladesh pakistan philippines sri lanka nepal egypt indonesia jordan and thailand. the continuing infrastructure development and economic growth in the uae would in turn lead to higher remittance volumes from the country in 2014 he said.


The gcc is estimated to have around 15 million migrant workers with the uae having over five 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 uae. currently it has 132 branches in uae offering diverse remittance channels including bank and instant money transfers foreign currency exchange payroll solution prepaid travel card and bill payments.


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 relationship with over 150 global banks across the world. “out of the 414 billion remittance flows to the developing world uae exchange has six per cent market share handling 25 billion which is a indicator of significant presence as a global player in the remittance sphere” manghat said.


By 2016 remittances to developing countries are projected to touch the half a trillion mark. across the five countries uae exchange operates in the gcc excluding saudi arabia the cumulative remittances it handled in 2013 was to the tune of 21.3 billion.


— issacjohn?khaleejtimes.com

 


Khaleej Times




  MENA News Headlines
 Dec 25 2014 - Iraqi Prime Minister Heads to TurkeyQatar News Agency
(MENAFN - QNA) Iraqi prime minister Haider Abadi began Thursday morning a two-day official visit to Turkey. During the visit, Abadi will hold talks with Turkish officials on means of developing ...

 Dec 25 2014 - Turkey Condemns Deadly Explosion in BaghdadQatar News Agency
(MENAFN - QNA) Turkey has condemned an explosion in the Iraqi capital Baghdad that killed around 50 people on Wednesday. "We strongly condemn this reprehensible attack that targeted Iraq's ...

 Dec 25 2014 - Summary of Local News ReleasedWednesday - 1-Qatar News Agency
(MENAFN - QNA) - Trading volume of real estate last week December 14-17 was worth in excess of QR 567 million, the Real Estate Registration and Authentication Department at the Ministry of Justice ...

 Dec 25 2014 - Zionist soldiers gun down Hamas fighterArab News
(MENAFN - Arab News) GAZA CITY: Israel launched an airstrike in southern Gaza on Wednesday and killed a Hamas man.Palestinian medical sources said Tayseer Al-Ismary 33 was killed 'as a result of ...

 Dec 25 2014 - 'IS responsible for pilot's safety'Arab News
(MENAFN - Arab News) AMMAN: Islamic State fighters took a Jordanian pilot captive after his warplane came down in northeast Syria on Wednesday the first captive taken from the US-led coalition ...

 Dec 25 2014 - Iraq bomber kills 26 in attack on anti-terror groupArab News
(MENAFN - Arab News) BAGHDAD: A suicide bomber attacked Sunni anti-jihadi fighters south of Baghdad on Wednesday killing at least 26 people while a senior counter-terrorism officer was shot dead in ...

 Dec 25 2014 - Israeli land grab: 380 new settler homes approvedArab News
(MENAFN - Arab News) JERUSALEM: Israeli authorities gave final approval on Wednesday to the construction of 380 new settler homes in two areas of annexed east Jerusalem a local official said.Yosef ...

 Dec 25 2014 - Zimbabwe to export elephantsArab News
(MENAFN - Arab News) HARARE: Wildlife authorities in Zimbabwe on Wednesday announced plans to export at least 62 elephants to top up scant state funding and curb a ballooning pachyderm ...

 Dec 25 2014 - Can terrorists be rehabilitatedArab News
(MENAFN - Arab News) One of the perpetrators involved in the Abqaiq oil refinery attack in the Eastern Province in 2006 was recently quoted as saying in the media that he felt guilty but not for the ...

 Dec 25 2014 - Saudi- Drug traffickers posing as cops nabbedArab News
(MENAFN - Arab News) Jazan police arrested two drug smugglers on Monday impersonating border guards and found two bags of heroin and an unspecified amount of qat in their car.The officers arrested ...

more...


 






Google

 
 

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