|Published : 20 Apr 2017, 18:14:00|
Cost for sending money from UAE to BD third lowest
Cost for forwarding cash from UAE to Bangladesh is estimated third lowest, according to a World Bank report.
The World Bank has recently released the latest edition of the Remittance Prices Worldwide report.
The report tracks money transfer costs across the globe, according to a report by http://gulfnews.com .
Transferring cash to Sudan is estimated to cost only around Dh3.60, the lowest rate charged to remitters from the UAE.
The second cheapest rate goes to expatriates sending money to Pakistan, with the total cost averaging at Dh21.63, while those from Bangladesh get the third lowest rate at Dh21.73
The World Bank works out these costs by looking at service fees and exchange rate margins for money transfers worth $200 (Dh735) and $500 (Dh1,835) in 48 remittance sending countries and 105 receiving countries.
The report, based on the data collected between January and March this year, showed that expatriates from the UAE incur the least amount of charges when they move funds to Sudan, Pakistan, Bangladesh, India and Nepal.
However, money transfers are pricey for those remitting from the UAE to Indonesia, who may have to incur a total cost of Dh56.67 for every Dh735 sent.
Sending money to South Sudan from the UAE is also the second most expensive, at Dh38.59.