UAE remittance companies still facing challenges from ‘parallel market’: Al Ansari

UAE remittance companies still facing challenges from ‘parallel market’: Al Ansari

Dubai: The UAE's remittance companies continue to face challenges from grey market operators, according to Al Ansari Financial Services. 

"The trends observed in past quarters persist," said the company, which has the biggest share of the UAE market. "Challenges posed by the parallel market in key remittance corridors like India, Egypt, and Pakistan led to a 3 per cent year-on-year decline in remittance income during Q1-24."

UAE remittance companies still facing challenges from 'parallel market': Al Ansari