UAE banks processed Dh6.74 trillion in remittances throughout first 5 months of 2023

Dubai: UAE banks processed roughly Dh6.74 trillion in remittances by way of the UAE Funds Switch System (UAEFTS) through the preliminary 5 months of 2023, the Central Financial institution of the UAE’s newest statistics confirmed.

The transfers witnessed a notable surge of 39.20 per cent in comparison with the identical interval in 2022, with the overall worth reaching Dh6.74 trillion in distinction to Dh4.84 trillion within the corresponding interval final yr. The transactions comprised Dh4.27 trillion transferred between banks and Dh2.47 trillion between financial institution prospects.