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UAE Exchange remits $290 million to Lanka in 2013
UAE Exchange, the leading remittance and foreign exchange brand, transferred $290 million, from across the globe, to Sri Lanka in 2013, contributing five per cent of the total remittance inflows to the country.
In a statement, the company said global remittances to Sri Lanka grew 15 per cent in 2013 compared to the previous year. Global remittances to Sri Lanka in 2013, as estimated by the World Bank, stood at $5.7 billion.
Promoth Manghat, vice- president of global operations, UAE Exchange, said: “Sri Lankan expats form a major part of the strong customer-base that UAE Exchange serves. Through their perpetual trust and our consistent efforts, we have recorded remittance worth $175 million from the UAE to Sri Lanka in 2013, compared to $142 million in 2012, a rise of nearly 24 per cent. Sri Lanka is a vital market for UAE Exchange.”
— business@khaleejtimes.com
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