Foreign transfers of foreign workers in the first quarter were AED 43.5 billion

Media In – Abu Dhabi 29 May 2018 / WAM /
The value of foreign remittances in the UAE rose to AED 43.5 billion in the first quarter of this year, an increase of AED 6.5 billion and a 17.3% increase compared to AED 37.1 billion in the first quarter of 2017.
The quarterly review report issued by the Central Bank of the UAE today showed that 30.9 billion dirhams of remittances and 71% were carried out through exchange companies during the first quarter of 2018 with a growth rate of 10.9% compared to the same period of 2017, while 29% Of these transfers through banks.
The number of remittances increased to reach AED 15.96 billion, accounting for 36.7% of the total remittances registered during the first quarter of this year, followed by the employment of Pakistani nationality by 8.8% and the transfers of the Filipino workers which accounted for 6.9% Of the total value of conversions.
The percentage of remittances from Omani nationality was 5.1%, then Egyptian labor was 4.9%, while the percentage of remittances from American nationality was 4% and 3.4% for the British citizenship campaign and about 3.1% for Bengali nationality.

The value of remittances of foreign workers during the first quarter of this year about 26.5% of the total value of the current account of the State during the year 2017, according to the Central Bank report.
The central bank’s report pointed out that the increase in remittances of workers abroad during the first quarter of this year came despite the decrease of the rate of exchange of dirhams by 7% during the first three months of January to March compared to the same levels of the same period of 2017