Jordan receives $ 716 million in remittances from UAE in 2015 — report

AMMAN — Jordanians working in the United Arab Emirates (UAE) transferred remittances worth $716 million in 2015, according to data e-mailed to The Jordan Times by ‘Xpress Money, a global money transfer company. 

According to figures released recently by the World Bank, Jordan is amongst the top five remittance receiving countries in the Middle East and North Africa region, with around $3.8 billion worth of cash transfers last year.

Remittances play an important part in Jordan’s economy  contributing to over 10 per cent of the Kingdom's gross domestic product. 

A report by UK-based Business Quarter Magazine, estimates that 200,000 Jordanians reside in the UAE, making them one of largest Arab expatriate communities in the Gulf country. 

Remittances to Jordan are expected to stay robust as the UAE moves towards hosting global events such as the Expo2020 world exhibition, which will attract 25 million visitors and also generate employment opportunities for Jordanian nationals, ‘Xpress Money said in its statement. 

“We are seeing very active remittance flows from the UAE to Jordan due to the large Jordanian population in the country. We expect remittance flows from the UAE to Jordan to continue growing at a steady pace year on year, and will further accelerate as we approach 2020,” said Xpress Money’s COO Sudesh Giriyan.

Griyan said the money transfer company started its operations in Jordan in 2001 and now operate in over 130 locations in the country. It also operates around 480 outlets in the UAE.