Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

More than US$10B Transferred from UAE in 2008

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Foreign workers in the United Arab Emirates transfer more than US$10 billion per annum to their home markets, making UAE the second highest performer in the area in fund remittance, according to Money Transfer International (MTI), the global trade association. Remittances to the Philippines from the UAE reached more than $584 million in 2008. More than 40% of all Overseas Filipino Workers (OFW) are based in the Middle East and 10.5% live and work in the UAE.

Money Transfer International (MTI) is an international trade association dedicated to promoting the development and interests of the global remittances industry.  It is a not-for-profit company limited by guarantees and incorporated in the United Kingdom. The association has offices in London, Singapore and Beijing.

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Written by Raffy Pekson II

June 2, 2009 at 2:40 pm

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