By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Baner ClubBaner ClubBaner Club
  • Home
  • Business
    BusinessShow More
    Which National Savings Plans have new profit rates?
    July 3, 2025
    They tried Made in the USA. It was too expensive for their customers
    July 3, 2025
    Check out the latest National Savings Scheme profit rates here.
    July 3, 2025
    How Anosh Ahmed is becoming well-known throughout the world through his thought leadership
    July 3, 2025
    Punjab increases leave allowance for ministers, speaker, dy speaker
    July 3, 2025
  • Politics
    PoliticsShow More
    Five Pakistani players reach Asian Junior Squash Championship semifinals
    July 3, 2025
    The US House approves Trump’s “One Big Beautiful Bill.”
    July 3, 2025
    Russia acknowledges the Afghan Taliban government.
    July 3, 2025
    Turkish Foreign Minister Hakan Fidan to visit Pakistan next week
    July 3, 2025
    The foreign minister claims that Iran is dedicated to the nuclear non-proliferation treaty.
    July 3, 2025
  • Technology
    TechnologyShow More
    Microsoft to cut about 4% of jobs amid hefty AI bets
    July 3, 2025
    Pakistani company fits war-affected Gazan girl with prosthetic arm
    July 3, 2025
    Nvidia set to become world’s most valuable company in history
    July 3, 2025
    How China’s new auto giants left GM, VW and Tesla in the dust
    July 3, 2025
    Satellite internet suffers as Pakistan’s Starlink registration expires
    July 3, 2025
  • Sports
    SportsShow More
    Pakistani stars set to clash as Cricket Australia unveils BBL 2025-26 schedule
    July 3, 2025
    Cricket Australia announces Big Bash League schedule
    July 3, 2025
    Australia’s Smith return confirmed for second Windies Test
    July 3, 2025
    Liverpool’s Portuguese forward Diogo Jota dies in car crash in Spain
    July 3, 2025
    Bhogle acknowledges Gill’s batting supremacy
    July 3, 2025
  • Matrimonial
  • Marketplace
  • Chat Room
  • EN
    • AR
    • EN
    • EO
    • FR
    • UR
Reading: Remittances by overseas Pakistanis see record increase
Share
Notification
Font ResizerAa
Font ResizerAa
Baner ClubBaner Club
Search
  • Home
  • Business
  • Politics
  • Technology
  • Sports
  • Matrimonial
  • Marketplace
  • Chat Room
  • Privacy Policy
  • Terms and Conditions
© 2022 BanerClub. All Rights Reserved.
Baner Club > Blog > Business > Remittances by overseas Pakistanis see record increase
BusinessPakistan

Remittances by overseas Pakistanis see record increase

Pakistanis in Saudi Arabia send maximum of $808 million in June

Last updated: 2024/07/09 at 3:25 PM
Published July 9, 2024
Share
2 Min Read
SHARE

In June 2024, Pakistanis living abroad sent a record-breaking $3.2 billion home, a notable 44% increase over June 2023.

Financial experts say that this spike is mostly due to the Eidul Azha holiday and an increase in money coming in through legitimate banking systems.

  • Remittances hit $3.2 billion in June 2024, a significant rise over the same month the year before.
  • Experts point out that enhanced banking channels and the Eid-ul-Adha celebrations were two factors in the increase in remittances.

Pakistanis living abroad sent home $30.3 billion in total during the fiscal year 2023–2024, a 10.5% increase over the year before. The aforementioned growth highlights the pivotal function of remittances in Pakistan’s economy, as they furnish important foreign exchange reserves.

Saudi Arabia: With $808 million sent in just June, Pakistani expats there accounted for the majority of the country’s remittance influx.
United Arab Emirates: In June, Pakistanis residing in the UAE made a $655 million contribution, placing them second in terms of the volume of remittances.

The rise in remittances is attributed by financial commentators to multiple factors:

  1. Eidul Azha: During the holiday season, money is frequently given to families back home to help with festivities and charity contributions.
  2. Banking Channels: Pakistanis living abroad now find it simpler to send money home safely and promptly thanks to the banking channels’ increased dependability and efficiency.

You Might Also Like

Which National Savings Plans have new profit rates?

Five Pakistani players reach Asian Junior Squash Championship semifinals

Pakistan among top 15 water-stressed countries, NDMA warns

DSP injured in attack on police van in South Waziristan

Czech woman climber killed in Nanga Parbat expedition accident

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
BanerClub July 9, 2024 July 9, 2024
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link
Share
Previous Article Miftah wants government spending to be cut.
Next Article Usman Qadir expresses readiness to play red-ball cricket
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow
Youtube Subscribe
Dribbble Follow
- Advertisement -
Ad imageAd image

Latest News

The US has tougher visa and green card regulations.
Travel United States July 3, 2025
European climbers ascend and descend Nanga Parbat in a historic alpine ascent.
News July 3, 2025
Which National Savings Plans have new profit rates?
Business Pakistan July 3, 2025
Third interstellar object detected racing through solar system
Marketing July 3, 2025
//

Where headlines meet insight, and stories shape perspectives. Your gateway to informed perspectives and captivating narratives.

Top Categories

  • BUSINESS
  • POLITICS
  • TECHHot
  • HEALTH
  • News
  • Technology
  • Fashion

Quick Links

  • MY BOOKMARK
  • INTERESTSNew
  • CONTACT US
  • BLOG INDEX
Baner ClubBaner Club
Follow US
© 2022 BanerClub. All Rights Reserved.
  • Privacy Policy
  • Terms and Conditions
Pay with Paypal

Login

Register

Please enter your username or email address. You will receive a link to create a new password via email.

Loading Back to login
Forgot Password
Facebook Login Loading...
Captcha:
  • Login
  • Sign Up
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
Welcome Back!

Sign in to your account

Register Lost your password?