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FinancialNews


  • 24-09-18

    Philippines remittance from Middle East see sharp decline

    (MENAFN) The Philippines remittances from Filipino workers (OFW) in the Middle East recorded a 15 percent decline during the first seven months of this year.

    The Central Bank of the Philippines (BSP) unveiled the country's fund transfers from Libya to have registered a 73 percent drop and Israel a 61 percent fall.

    Cash remittance from Kuwait also saw a sharp 20.4 percent decrease, even after Filipino workers in the Gulf state started being employed again.

    The transfers from Oman also plunged 38.3 percent, while Bahrain fell 22.9 percent and Saudi Arabia dropped 10.4 percent.

    MENAFN2409201800450000ID1097474548

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