Filipino expats in the UAE who have sent remittances back to their families and loved ones in the Philippines have reached an estimated total of Dh 3,034,390,000 (Php 42,571,384,420.75*) for the first quarter of the year.
In official figures released by the Central Bank of the United Arab Emirates, Filipinos account for the third largest remitters with 7.9% percent of the total of Dh 38.41B remitted by the entire expat community during the first three months of the year.
The report furthered that Dh 25B was transferred through money exchange companies while the rest of the transfers were made through banks operating within the country.
India placed first as the top receiving country, with 37.4% of the total remittances, followed by Pakistan with 10.2%.
Here are the rest of the top receiving countries:
Egypt: 6%
Bangladesh: 4.6%
USA: 3.4%
UK: 3.3%
Jordan: 2.4%
China: 2.1%
Switzerland: 1.9%
*Dh 1 = Php 14.03
