Saudi and UAE remittances to Pakistan hit $125m in Ramadan

Saudi Arabia topped the list of countries with the highest remittance to Pakistan in March, local media reported.

Remittances from the kingdom reached a high of just over $70 million during Ramadan, rising 30 percent from $54 million in February, Dawn, an English-language media outlet in Pakistan, reported, quoting the State Bank of Pakistan’s data.

Expatriates in the UAE sent $55 million last month compared to $39 million in February.

The US sent just over $37 million, up 28 percent month on month, while expats in the UK sent $46 million home during the holy month.

Total remittance during March reached $3 billion, the highest since April 2022.

Between July 2023 and March 2024, remittances increased nearly 1 percent year, the report said.

Source: Trade Finance