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India, Pakistan among top destinations for UAE remittances

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India was the leading destination for outward personal remittances from the UAE during 2018, according to figures included in the annual report of the UAE Central Bank, released this week.

India was followed as a destination by Pakistan (9.5 percent), the Philippines (7.2 percent), Egypt (5.3 percent), the US (3.9 percent) and the UK (3.7 percent), The National reported.

Total remittances in 2018 were Dh4.8 billion, or 3 percent, higher than the 2017 figure of Dh164.4 billion. Remittances in 2016 were Dh160.8 billion.

Money remitted through exchange houses increased by 6 percent from Dh121.6bn in 2017 to Dh128.9bn last year, while the amount sent through banks decreased by 5.6 percent from Dh42.7bn to Dh40.3bn.

Source: Gulf News

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