DOHA: Remittances from Qatar to South Asian countries are expected to rise by up to 20 percent during major festivals this year. There was surge in remittances by expatriates during Ramadan and Eid Al Fitr. According to exchange houses, remittances went up by 15 percent during the holy month. There were major remittances to India, Pakistan, Bangladesh, Sri Lank and the Philippines.
“We hope remittances during major festivals such as Eid Al Adha, Onam, Diwali and Christmas will be up by 18-20 percent. The growth in remittances will be driven by expatriates of South Asian countries such as India, Pakistan, Bangladesh, Sri Lank and Philippines,” said Sudhish, vice chairman, Express Money.
“During Ramadan this year, we witnessed 15 percent higher remittances by expatriates. Expatriates from India, Pakistan, Bangladesh, Sri Lanka and Philippines dominated the crowd which rushed to send money during Ramadan,” he added.
Every year, exchange houses witness a rise in remittances during major festivals as expatriates send money to their family members to meet additional expenses.
The GCC countries are estimated to have around 15 million migrant workers, with Qatar having 1.4 million.
The six-nation bloc is the third largest hub of migration in the world.
THE PENINSULA
