(MENAFN- Muscat Daily) Muscat- Xpress Money, one of the world's most dependable money transfer brands has recorded a 12 per cent increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first two weeks of Ramadan last year). The increase is reflected in outward remittances to South Asia, the Levant and other parts of the MENA region.
'Ramadan is the month of giving, and we traditionally witness that remittances back home to friends and loved ones increase during the month. This year, we have registered a 12 per cent increase in remittances in the first two weeks of the holy month, and this figure may change once we tabulate data for the entire month after Eid al Fitr. The increased remittances are a sign of generosity and also help families back home prepare for Eid festivities,' said Xpress Money's COO, Sudhesh Giriyan.
The increased remittances are part of a broader shift in spending, consumption and behavioural habits during the holy month. Last year, a comprehensive GCC-wide survey by Xpress Money showed that 63 per cent of Oman's expatriates transferred more money to their loved ones during the month, while 88 per cent spent more on charitable acts. Also, 75 per cent of respondents said that they spend more time with the family or even travel back home to be with them during Ramadan.
Xpress Money is a global money transfer brand with a thriving presence in more than 160 countries across all continents through 180,000 agent locations. It has come to be known as the most dependable international money transfer brand and provides customers a simple, fast and safe way to transfer money.
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