Remittance

How does remittance cost in the GCC stack up?

Cost of remittance varies across GCC countries and is dependent both on the source and destination. Based on the average remittance cost across MTOs, it is observed that operators involved in transferring money from Qatar and Saudi Arabia have the highest remittance costs while that of Kuwait and the UAE have the lowest cost. For instance, the average cost of remittance of USD 200 from Qatar to India stands at 3.9% while that of Kuwait to India is 1.9%. Certain...

Remittance agents can advance with Blockchain technology

The article originally appeared in The National | Business. Traditional business models are being challenged by new disruptive technologies whose speed of development makes the "catch-up" act very difficult. However, if something can provide solutions to problems encountered by businesses and individuals, it is most certainly welcome. One of the biggest problems is faced by the large expat population in the region, which relies on remittances to transfer cash across borders. For an industry worth nearly US$100 billion in the GCC,...