The remittances of financial residents have grown across the UAE banks abroad; Coinciding with the start of the new academic year, by a rate of 15% and 20%, while the value of the transfers increased by 20% and 30%, compared to the rest of the year, where many customers prefer to deal with banks directly, especially when transferring large sums, according to bank experts for “Gulf”. On the other hand, exchange companies kept a relatively stable pace in transfers, as large increases in the volume of transfers were not recorded during the current period. Parents said, during this period of each year, they are keen to transfer money into their families in their mother countries, to cover the expenses related to the beginning of the school year. more
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