The growth of individuals’ remittances is 9% during Ramadan and Eid

The Chairman of the Board of Directors of Al -Ansari Group for Financial Services, Muhammad Al -Ansari, said that the financial transfers issued to individuals are witnessing remarkable growth during certain seasons, most notably the month of Ramadan and holidays, noting that “Al -Ansari Exchange” witnessed 9% growth in the volume of financial transfers during Ramadan and Eid Al -Fitr, compared to the month of February 2025, through its branches and smart platforms.

Al -Ansari explained to «Emirates Today» that at the level of the most transmitted communities issued by the financial transfers issued, India, Pakistan, Egypt and Jordan came among the list of the largest communication to money, by virtue of the large number of the citizens of these countries residing in the UAE, indicating that the positive impact of these transfers is not limited to recipient families only, but also contributes to the economic and social development of countries.

He added: «Parallel to that, since last year, a great demand for a group of currencies, most notably the US dollar, the euro and the British pound, continues to align with the diversion paths, and in light of the increase in tourists’ demand for the UAE and the growing commercial activities with the major economies.

Al -Ansari continued: “We look confidently on the prospects for the growth of the foreign exchange sector and financial transfers during the coming period in light of the strength and stability of the Emirati dirham, the durability of the national economy and the continuation of the growth path witnessed by the vital sectors, as well as the growth of the state’s position in a global leading destination for residence, tourism and practicing investment and commercial activities as a result of strategic government initiatives.”

It is noteworthy that Al -Ansari Financial Services Company acquires a large share of financial transfers in the UAE, as according to the latest statistics available, the number of “Al -Ansari Exchange branches” increased to 259 branches by the end of the first quarter of last year compared to 232 branches in 2023, indicating a noticeable expansion in the local network.