FinanceNews

Remittances from UAE to Philippines reach Dh5.8 B for H1-2019

The Central Bank of the UAE has revealed that Filipinos have ranked 3rd in the top remitters from the UAE to their respective countries comprising 7.2% of the Dh80.96 billion remitted for the first six months of the year 2019.

This translates to roughly Dh5.8 billion or an estimate of Php82.6 billion* from OFW’s hard-earned money here in the UAE that they have sent towards their families back home in the Philippines.

India ranked top with 37.2% of remittances, followed by Pakistan with 10.5%.

Here’s the complete list of the top 10 countries:

India: 37.2%

Pakistan: 10.5%

Philippines 7.2%

Egypt: 6.3%

UK: 3.8%

Bangladesh: 3.7%

USA: 3.3%

Jordan: 2.6%

Switzerland: 2.2%

China: 1.5%

A total of Dh33.046 billion thereof was transferred through money exchange companies and the rest from the banks operating in the country.

*Dh 1 = Php 14.18 

Staff Report

The Filipino Times is the chronicler of stories for, of and by Filipinos all over the world, reaching more than 236 countries in readership. Any interesting story to share? Email us at [email protected]

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