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Tag Archives: remittances

Revealed: UAE expats who send most money

Remittances, which are essentially the money earned abroad and sent home by expatriate workers to their families, are the backbone of some economies outside the Gulf. Remitted funds are mainly used to cover the costs of basic expenses of dependents, including housing, food, education and medical bills. They also boost …

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Why remittances are prohibited in these UAE outlets

Some money changers in UAE are appealing a recent decision by the Central Bank to prohibit them from doing remittance transactions. UAE resident have been advised that they can no longer transfer money or receive salaries through at least seven exchange houses. The UAE Central Bank confirmed on Monday that …

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Outbound remittances from UAE hit more than Dh43 billion

Expatriates in the UAE continue to send more of their earnings back to their home countries as the US dollar holds strong against several currencies, with remittances in the last quarter alone reaching Dh43.2 billion. According to the figures released by the UAE Central Bank, outgoing¬†money¬†transfers went up by Dh1 …

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Saudi Women and the Economy

by Mohammad Zayed* —¬†In a historic step towards economic and social reforms following the falling of oil prices by more than 50%, Saudi Arabia‚Äôs King Salman bin Abdulaziz has recently declared the lifting of the long-standing ban on women driving in the kingdom (the only country in the world that …

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