Mubasher: Total remittances from residents in the Gulf Cooperation Council (GCC) countries reached $98 billion in 2014, a report by the World Bank said on Tuesday.
Saudi Arabia came second globally and first among Arabs in cash transfers for residents with about $36.9 billion or SAR 138.4 billion in 2014.
Meanwhile, United Arab Emirates ranked sixth globally and second among Arab countries as its total remittances reached about $19.3 billion.
Kuwait came third among Arabs with total remittances valued at around $18.1 billion, followed by Qatar, Oman and Bahrain with $11.2 billion, $10.3 billion and $2.2 billion respectively last year.
US ranked first globally with total remittances of about $ 56.3 billion in 2014.
India topped the countries with respect to receiving remittances in 2014, as it received $72.2 billion, followed by China with $63.9 billion and Philippines with $29.7 billion.
