Western Union: transfers to Arab countries restore growth
Regained movement remittances towards the countries of the region that has seen political tensions grow, while Syria remained outside the flock with the survival of the security situation deteriorating way that prevents the continuation of work in some points office conversion or agents, which saw global remittance to it during the recent period by between 20 and 25 percent .
And saw Jean Claude Farah, First Deputy Chairman of Western Union for Middle East and Africa, that the issue of transfers is not only linked to the desire or the need for conversion, it can not be separated from the topic of security.
During the conference, Western Union, held in Dubai pointed to the closure of several points at different locations from Syria, which has an impact on our business and Hawwalatna rate of 20 to 25 percent, and not because of lack of desire in the conversion, pointing out that the conversion process is not as simple as imagined by some.
He said that the political crisis did not overcome the desire for conversion, in the rest of the countries, except Syria, have returned growth in Egypt, Libya, Tunisia, stressing that the exchange rates and high dirham against the currencies of different countries of the tension were not a factor during the last period.
He grew flows remittances to countries in the Middle East and Africa in the last year, 2.6 percent, a rate is the slowest among all the developed areas due to the uncertainty and instability, civil triggered by Arab revolts, and noted that more than 25 percent of the remittances received by countries in the Middle East and North Africa stems from the GCC countries.