By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Baner ClubBaner ClubBaner Club
  • Home
  • Business
    BusinessShow More
    Pakistan records current account surplus after 14 years
    July 18, 2025
    Chambers in Karachi and Lahore confirm a nationwide strike, dividing traders.
    July 18, 2025
    Audit lifts lid on irregular spending worth billions by LEAs
    July 18, 2025
    Foreign exchange reserves fall below $20bn: SBP
    July 17, 2025
    NAB seizes several vehicles in Bahria Town Karachi raid
    July 16, 2025
  • Politics
    PoliticsShow More
    Gilani acquitted of 14 TDAP-related corruption cases
    July 18, 2025
    ‘Zero tolerance’: FO affirms Pakistan’s policy against terrorism, rejects allegations
    July 18, 2025
    PM Shehbaz meets Libyan Commander-in-Chief
    July 18, 2025
    Pakistan adds billions in current account surplus after 22 years
    July 18, 2025
    Afghan refugees will be blacklisted and the government will not grant Afghan PoR cards: Naqvi
    July 18, 2025
  • Technology
    TechnologyShow More
    Making life on the moon possible by extracting water
    July 18, 2025
    YouTube updates monetisation policy; Disclosing AI usage is now mandatory
    July 17, 2025
    In the 2015 merger investigation, the chairman of Samsung was cleared of all charges.
    July 17, 2025
    Shocking Meta bug let strangers peek at your private AI chats
    July 16, 2025
    Google has once again killed publisher traffic. Here’s how
    July 16, 2025
  • Sports
    SportsShow More
    Pakistan defeats India in semis to reach U-16 Asian Volleyball Championship final
    July 18, 2025
    Phillips’ injury will prevent him from touring Zimbabwe.
    July 18, 2025
    Bangladesh fans welcome Pakistan in Dhaka with verve
    July 18, 2025
    ‘Series on the line’: India consider Bumrah gamble in Manchester
    July 18, 2025
    Hasnain of Pakistan wins the U-17 Snooker title.
    July 18, 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

Pothohar region floods: Over 1,000 residents evacuated safely amid heavy rains

PSX soars to record high as hundred index hits all-time peak

Gilani acquitted of 14 TDAP-related corruption cases

Islamabad sets new sugar prices: Retail at Rs172/kg, Ex-mill at Rs165

PM celebrates successful training of 300 Pakistani agriculture graduates in China

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

Pothohar region floods: Over 1,000 residents evacuated safely amid heavy rains
Pakistan Weather July 18, 2025
Indian army Colonel exposes sexual predators amid Modi’s tenure
News July 18, 2025
PSX soars to record high as hundred index hits all-time peak
Marketing Pakistan July 18, 2025
Gilani acquitted of 14 TDAP-related corruption cases
Pakistan Politics July 18, 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?