This Eid, remittances from Qatar go up by 20%
If one thought recent financial struggles faced by oil-producing nations would affect the outflow of expatriate remittances, one could not be more mistaken.
Growth in the country’s expatriate population is expected to sustain the upward trend of remittance outflow from the country, reported Gulf Times.
“Many expatriates in Qatar are sending money back home because of the Eid Al Adha celebrations. The number of customers has increased by 15% to 20% during this period,” Al Zaman Exchange operations manager Zubair Abdul Rahman told the newspaper.
August had not been a very exciting month for exchange houses as many expatriates were on vacation, reported The World Around Us.
The celebration of the holy month of Ramadan, Eid Al Fitr and Eid Al Adha are occasions when exchange houses in Qatar get record growth in remittances.
Egypt, India, Pakistan, Philippines, Bangladesh, Nepal, Sri Lanka are the main destinations that are likely to see major remittances, reported menafn.com.
With the traditional Onam festival in Kerala is right around the corner, more remittances to the country can be expected in the coming days.
According to a 2016 World Bank report, Qatar and Saudi Arabia account for around half of remittances from GCC states.
This is usual like in the previous years ..... let our near & dear ones do some shopping also ...............