20 % growth of residents’ remittances in conjunction with a return to schools
The remittances of financial residents have grown across the UAE banks abroad; Coinciding with the start of the new academic year, by a rate of 15% and 20%, while the value of the transfers increased by 20% and 30%, compared to the rest of the year, where many customers prefer to deal with banks directly, especially when transferring large sums, according to bank experts for “Gulf”.
On the other hand, exchange companies kept a relatively stable pace in transfers, as large increases in the volume of transfers were not recorded during the current period.
Parents said, during this period of each year, they are keen to transfer money into their families in their mother countries, to cover the expenses related to the beginning of the school year.
Increase the volume of transfers
Ahmed Arafat, a banking expert, said: The financial transfers, from residents to their families in their countries, are witnessing a remarkable increase, coinciding with the study season in many countries, as it is classified as one of the most prominent seasons of transfers alongside holidays and the summer entry season, and bank data indicates an increase in the volume of transfers during this period, as it increased by a rate ranging between 15% and 20%, compared to other months, while the value of The amounts transferred between 20% and 30%. Arafat indicated that banks have prepared to keep pace with the demand for external transfers by expanding dependence on digital channels, as the transfers are no longer limited to traditional channels, as a growing number of account holders prefer to complete their transactions through electronic applications, which contributes to reducing pressure on bank branches.
Fixed annual season
Malik Abdel Karim, the banking expert, said: The financial transfers are witnessing a clear increase, during the months of August and September annually, coinciding with the entry of the school season in many countries, which is reflected in the increase in demand for transfer services the current period.
He added: The academic season is a special case in the transfers market, due to its association with financial obligations that cannot be postponed, unlike other seasons such as Ramadan, holidays and holidays, in which individuals can distribute their expenses at longer periods, or limited to limited amounts.
He pointed out that «parents send more amounts than usual to cover education expenses, and many customers prefer to deal with banks directly, because of the transfer services they provide for large sums while ensuring the speed of money arrival.
Abdel Karim stressed that digital channels play an increasing role in absorbing this activity, as it witnessed transfers through phone applications and websites, in turn, a parallel increase, as it is preferred by a wide segment of residents who are looking for speed and avoiding congestion.
Digital transfers
Rashid Al -Ansari, CEO of Al -Ansari Exchange Company, said: Despite the importance of the school season, it is not usually associated with concrete changes in the movement of financial transfers through exchange companies, and does not fall within the seasonal sessions of transfers, such as Ramadan and holidays, for example.
He added: The academic season is a relatively stable in the movement of transfers from exchange companies, and it does not emerge as an effective factor in customers’ demand to make financial transfers unlike the holidays and religious and social events that usually record strong growth in external transfers.
He pointed out that “digital transfers are witnessing an accelerated growth at the sector level in general, as they increased by 30% during the first half of 2025 compared to the same period from 2024.
Al -Ansari pointed out that «the contribution of digital transfers increased from 22% to 23% of the total volume of transfers during the first half of this year, and this positive path reflects the growth of customers’ orientation towards digital channels, because of its speed, ease and safety. ”
