SlideShare a Scribd company logo
1 of 14
Download to read offline
UAE Remittance and Bill Payments
Market Outlook to 2021
Rising Expatriate Population, Growing Business Activities and
Increasing Demand for Utilities to Foster Growth
COMPANIES
MENTIONED
•	 International Money Transfer
•	 Domestic Money Transfer
•	 Bill Payment Services
•	 Inbound Money Transfer
•	 Outbound Money Transfer
UAE Exchange, Al Ansari Exchange, Al
Fardan Exchange, Sharaf Exchange,
Trriple, GCC Exchnage
PRODUCTS MENTIONED
May 2017
TableofContent 1.	 Executive Summary
			 Market Potential
			 Market Segmentation
			 Trends and Developments
			 Competitive Landscape
			 Future Analysis And Projections
2.	 UAE Remittance Market – Genesis and Overview
			 Remittance Industry Led by Expatriates
			 Lack of Provision of Citizenship – Triggering Remittance Outflow
			 Remittance Charges – Positive Impact on Remittance Outflows
			 Impact of Remittance Outflows on UAE and Receiving Economies
			 Customers
			 Current Scenario
3.	 Value Chain Analysis in UAE Remittance and Bill Payments Market
			 International Remittance Market
			 Domestic Remittance Market
4.	 Comparison of Global Remittance and UAE Remittance Market
			 Global and UAE Remittance Market Outlook
			 Remittance Charges
			 US Remittance and UAE Remittance – A comparison on Remittance Outflow
5.	 UAE International Remittance Market
	 5.1.	 UAE International Remittance Market Size, 2011-2016
	 5.2.	 UAE International Remittance Market Segmentation
	 5.2.1.	 By Banks and Exchange Houses, 2014-2016
	 5.2.2.	 By Major Flow Corridors, 2014-2016
	 5.2.3.	 By Mode of Transfer (Electronic, Cash or in kind account, money order), 2016
	 5.2.4.	By Type of Services (Online and Direct Credit to Bank Accounts, Cash Pick Up
and Prepaid Cards), 2016
	 5.3.	 Favorable Options for the Customer to Make International Bank Transfers from UAE
	 5.4.	 Market Share in International Remittance Market, 2016
	 5.5.	 Future Outlook and Projections of UAE International Remittance Market, 2017-2021
6.	 UAE Domestic Money Transfer and Bill Payment Market
	 6.1.	 UAE Domestic Money Transfer Market Size, 2012-2016
		 6.1.1.	By Transaction Volume, 2012-2016
	 6.2.	 UAE Domestic Money Transfer Market Segmentation
		 6.2.1.	By Major Remittance Channel: Banks and non Banks, 2016
		 6.2.2.	By Types of Services: Cash Pick Up, Online and Direct Credit to Banks and
Prepaid Cards, 2016
	 6.3.	 Future Outlook and Projections of UAE Domestic Remittance Market, 2017-2021
7.	 UAE Bill Payments Market
	 7.1.	 UAE Bill Payment Market Size, 2011-2016
	 7.2.	 UAE Bill Payments Market Segmentation
	 7.2.1.	 By Type of Bills: Electricity, Water, Mobile, DTH and Broadband, 2016
8.	 Future Outlook and Projections for UAE Bill Payments Market, 2017-2021
9.	 Government Regulations in UAE Remittance and Bill Payments Market
TableofContent 10.	 Trends and Developments in UAE Remittance and Bill Payments Market
	 10.1.	 Current Trends
			 Proliferation of Digital modes of Money Transfers
			 Decreasing Remittance Charges
			 High Average Wage Rates
			 Currency Fluctuations in Migrant Countries
			 Expatriate Remittances Surge during Festive Season
	 10.2.	 Upcoming Trends
			 Rising Business and, Infrastructure Developmental Activities
			 Increasing number of foreign exchange and remittance company branches
11.	 Issues and Challenges in UAE Remittance and Bill Payments Market
			 Rate of Unbanked Population
			 Threat of Money Laundering Activities
			 Lack of Security and Knowledge
			 Stringent Banking Regulations
			 Falling Oil Prices
12.	 SWOT Analysis for UAE Remittance and Bill Payments Market
13.	 Competitive Landscape of Major Players in UAE Remittance Market
	 13.1.	 Competition Scenario
			 International Remittance Market
			 Cost of Remittance
			 Domestic Remittance Market
	 13.2.	 Company Profiles of Major Players in UAE Remittance and Bill Payments Market
	 13.2.1.	 UAE Exchange
	 13.2.2.	 Al Fardan Exchange
	 13.2.3.	 Al Ansari Exchange
	 13.2.4.	 Sharaf Exchange
	 13.2.5.	 GCC Exchange
	 13.2.6.	Trriple
14.	 Analyst Recommendations
15.	 Macro Economic Factors for UAE Remittance and Bill Payments Market
	 15.1.	 Number of Banks Branches in UAE, 2011-2021
	 15.2.	 Population in UAE, 2011-2021
	 15.3.	 Consumer Expenditure in UAE, 2011-2021
	 15.4.	 Number of Debit and Credit Cards Issued in UAE, 2011-2021
16.	 Research Methodology
	 16.1.	 Market Definitions
	 16.2.	Abbreviations
	 16.3.	 Market Size And Modeling
			 Approach – Market Sizing
			 Market Sizing – Domestic and International Remittance Market
			 Market Sizing – Bill Payments Market
			 Variables (Dependent and Independent)
			 Multi Factor Based Sensitivity Model
			 Final Conclusion
Disclaimer
Contact Us
LISTOFFIGURES Figure 1-1: Flow Chart for UAE Remittance and Bill Payments Market, 2016
Figure 3-1: Value Chain Analysis of UAE Remittance Market
Figure 4-1: Global Average Cost of Remittance in Percentage of the Remittance Transaction
Volume, 2012-2016
Figure 4-2: Global Remittance Market Size on the Basis of Transaction Volume in USD billion,
2011-2016
Figure 4-3: International Remittance Segmentation by Developing-Developing, Developing-
Developed, Developed –Developing and Developed-Developed Countries
Remittance on the Basis of Transaction Volume in Percentage, 2015
Figure 5-1: UAE International Remittance (Inflow and Outflow) Market Size on the Basis of
Transaction Volume in USD Billion, 2011-2016
Figure 5-2: UAE International Remittance Outflow and Inflow Growth Rate in Percentage (%),
2012 - 2016
Figure 5-3: UAE Remittance Market Segmentation by Banks and Exchange Houses on the
basis of Workers Remittance Outflow on the Basis of Transaction Volume in
Percentage (%), 2016
Figure 5-4: UAE International Remittance Market Segmentation by Major Flow Corridors on
the Basis of Workers Remittance Outflow on the Basis of Transaction Volume in
Percentage (%), 2016
Figure 5-5: UAE International Remittance Market Segmentation by Modes of Transfer
(Electronic Transfer, Money Order and Cash Account) on the basis of Workers
Remittance Outflow on the Basis of Transaction Volume in Percentage, 2016
Figure 5-6: UAE International Remittance Market Segmentation by Type of Services (Credit to
account and online, Cash Pick Up and Prepaid Cards) on the basis of Workers
Remittance Outflow on the Basis of Transaction Volume in Percentage, 2016
Figure 5-7: Future Outlook and Projections for UAE International Remittance Market on the
basis of Workers Remittance in USD Billion, 2017-2021
Figure 6-1: UAE Remittance Market Size by Domestic Remittance Transaction Volume in USD
Billion and Growth Rate in Percentage (%), 2012-2016
Figure 6-2: UAE Domestic Remittance Market Average Transaction Size in USD Thousands,
2011-2016
Figure 6-3: UAE Domestic Remittance Market Size on the Basis of Number of Remittance
Transactions in Thousands, 2012-2016
Figure 6-4: UAE Domestic Remittance Market Segmentation by Major Remittance Channel
(Banks and Non Banks) on the Basis of Transaction Volume in Percentage (%),
2016
Figure 6-5: UAE Domestic Market Segmentation by Type of Services (Online and Direct
Credit to Bank, Cash Pick up and Prepaid Cards) on the Basis of Transaction
Volume in Percentage (%), 2016
Figure 6-6: Future Outlook and Projections for UAE Domestic Remittance Market on the
Basis of Transaction Volume in USD Billion, 2017-2021
Figure 7-1: UAE Bill Payments Market Size on the Basis of Transaction Value in USD Billion,
2011-2016
Figure 7-2: UAE Bill Payments Market Segmentation by Type of Bills on the Basis of Transaction
Value in Percentage (%), 2016
LISTOFFIGURES Figure 7-3: ARPU for Mobile Bills in UAE in AED, 2012-2015
Figure 7-4: ARPU for Internet Bills in UAE in AED, 2012-2015
Figure 8-1: Future Outlook and Projections for UAE Bill Payments Market on the Basis of
Transaction Value in USD Million, 2017-2021
Figure 10-1: Internet Users in UAE in Million, 2000-2016
Figure 10-2: Average Exchange Rate of Some Countries per AED, 2012-2016
Figure 15-1: Number of Banks Branches in UAE, 2011-2021
Figure 15-2: Population in UAE in Number of Heads, 2011-2021
Figure 15-3: Consumer Expenditure in UAE in USD Million, 2011-2021
Figure 15-4: Number of Debit and Credit Cards Issued in UAE in Million, 2011-2021
LISTOFTABLES Table 3-1: Value chain Analysis: Major Parties and Process involved in UAE International
Remittance
Table 4-1: Top Ten Countries by Remittance Outflows in USD Billion, 2014
Table 4-2: Top Ten Remittance Recipient Countries in USD Billion, 2014
Table 4-3: Total Average Cost of Remittance by Regions of the World, 2012-2016
Table 4-4: International Remittance Segmentation by Developing-Developing, Developing-
Developed, Developed –Developing and Developed-Developed Countries
Remittance on the Basis of Transaction Volume in USD billion, 2015
Table 4-5: Top Ten Corridors of Remittance in USD Billion, 2015
Table 4-6: US Remittance and UAE Remittance – A Comparison
Table 4-7: Total cost of Remittances per USD 200 for Some Common Corridors of US and
UAE, 2016
Table 5-1: Rationale and Description for UAE International Remittance Market Size, 2011-2016
Table 5-2: UAE International Remittance Market Size by International Remittance Outflow and
Inflow in USD Billion, 2011-2016
Table 5-3: Rationale and Description for UAE International Remittance Market Segmentation
by Exchange Houses and Banks, 2014-2016
Table 5-4: UAE International Remittance Market Segmentation by Banks and Exchange Houses
on the Basis of Workers Remittance Outflow on the Basis of Transaction Volume in
USD billion, 2014-2016
Table 5-5: Number of Banks and Exchange House Branches in UAE by Emirate, 2014
Table 5-6: Rationale and Description for UAE International Remittance Market Segmentation
by Major Outbound Flow Corridors, 2014-2016
Table 5-7: UAE International Remittance Market Segmentation by Major Flow Corridors on the
basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD
billion, 2014-2016
Table 5-8: UAE Population by Nationality in Number of Heads, 2016
Table 5-9: Rationale and Description for UAE International Remittance Market Segmentation
by Mode of Transfer (Electronic, Cash or in kind account and Money order), 2016
Table 5-10: UAE International Remittance Market Segmentation by Modes of Transfer on the
basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD
Billion, 2016
Table 5-11: Rationale and Description for UAE International Remittance Market Segmentation
by Mode of Transfer, 2016
Table 5-12: UAE International Remittance Market Segmentation by Modes of Transfer on the
basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD
Billion, 2016
Table 5-13: Favorable Options for the Customer to Make International Bank Transfer from UAE
Table 5-14: Major Players in UAE International Remittance Market
Table 5-15: Market share of Major Players in UAE International Remittance Market on the Basis
of Remittance Outflow on the Basis of Transaction Volume in Percentage (%), 2016
Table 5-16: Strategic Analysis for Exchange Houses and Banks in the Future
Table 5-17: Future Outlook for UAE International Remittance Market on the Basis of Workers
Remittance Inflow and Outflow, 2017-2021
LISTOFTABLES Table 6-1: Rationale and Description for UAE Domestic Remittance Market Size on the basis of
Transaction Volume, 2012-2016
Table 6-2: Rationale and Description for UAE Domestic Remittance Market Segmentation by
Major Remittance Channel (Banks and Non Banks), 2016
Table 6-3: UAE Domestic Remittance Market Segmentation by Major Remittance Channel
(Banks and Non Banks) on the Basis of Transaction Volume in USD Billion, 2016
Table 6-4: Rationale and Description for UAE Domestic Remittance Market Segmentation by
Type of Services, 2016
Table 6-5: UAE Domestic Market Segmentation by Type of Services (Online and Direct Credit
to Bank, Cash Pick up and Prepaid Cards) on the Basis of Transaction Volume in
USD Million, 2016
Table 6-6: Future Outlook for UAE Domestic Remittance Market on the Basis of Transaction
Volume, 2017-2021
Table 7-1: Rationale and Description for UAE Bill Payments Market Size on the Basis of
Transaction Value, 2011-2016
Table 7-2: Rationale and Description for UAE Bill Payments Market Segmentation by Type of
Bills, 2016
Table 7-3: UAE Bill Payments Market Segmentation by Type of Bills on the Basis of Transaction
Value in USD Million, 2016
Table 8-1: Future Outlook for UAE Bill Payments Market on the Basis of Transaction Value,
2017-2021
Table 9-1: Anti-Money laundering and Counter-Terrorist financing Regulations in UAE
Table 9-2: New Electronic Payment Regulations, UAE
Table 9-3: Regulations on Licensing of Exchange Houses UAE, 1986
Table 9-4: Regulations on Re-Licensing and Monitoring Exchange Houses, UAE, 2014
Table 10-1: Average Monthly Salaries of Various Job Categories in Dubai, UAE, in AED, 2016
Table 12-1: SWOT Analysis of Mexico Remittance and Bill Payments Market
Table 13-1: Cost Comparison of Remittance to India from UAE by Company (Per USD 200),
February 2017
Table 13-2: Total Cost of Remittance (Per USD 200) through UAE Exchange by Bank Transfer
and Cash Transfer, in USD, February 2017
Table 13-3: Total Cost of Remittance (Per USD 200) through Al Fardan Exchange by Bank
Transfer and Cash Transfer in USD, February 2017
Table 13-4: Al Ansari Exchange Charges for Bank Transfer, in AED, 2016
Table 13-5: GCC Exchange Charges for Bank Transfer per Transaction, in AED, 2016
Table 14-1: Analyst Recommendations for UAE Remittance and Bill Payments Market
Table 15-1: Rationale for Number of Bank Branches in UAE, 2011 - 2021
Table 15-2: Rationale for Population in UAE, 2011 - 2021
Table 15-3: Rationale for Consumer Expenditure in UAE, 2011 - 2021
Table 15-4: Rationale for Number of Debit and Credit Cards Issued in UAE, 2011 - 2021	
Table 16-1: Correlation Matrix of UAE Remittance and Bill Payments Market
Table 16-2: Regression Coefficients Output for UAE Remittance and Bill Payments Market
8
© Licensed product of Ken Research; should not be copied
UAE Remittance and Bill Payments Market
HOW UAE REMITTANCE AND BILL PAYMENTS MARKET IS
POSITIONED IN UAE?
UAE is well-known as a leading
cosmopolitan hub in the world with wide
range of job opportunities, due to which it
has been a major attraction for job seekers
in other South Asian countries. Population
of the country majorly constitute of
expatriates. Over the past decade UAE has
experienced a robust economic growth
owing to a strong labor force, composed
mainly of expatriates. The expatriates in
the country are the major contributors
to the international remittance market
in the country. On the grounds of this,
the market has recorded an amplified
growth in the overall revenue from USD
~ Billion in 2011 to USD ~ Billion in
2016. International remittance market
is dominated by the workers remittance
outflow over the inflows.
Though, UAE is known for its international
remittances, the domestic remittances are
also huge in the country. It is dominated
by the business to business remittances
over personal remittances owing to the
rising business activities.
Though there had been a decline in the
growth rate during 2014-2015 due to the
falling oil prices, the domestic remittance
market have picked up soon due to rising
business activities in the non-oil private
sectors. The personal remittances are also
rising year on year owing to the internal
migration. Like all developing nations,
UAE also comprise of both developed
and non-developed emirates, which
raises the rate of internal migration from
non-developed emirate to developed
emirate in search of better job and living
opportunities.
During the review period 2011-2016, the
bill payments market has also displayed a
tremendous growth owing to the increased
consumption of electricity, water, mobile
phones, internet and others. As to reduce
the rate of consumption, the government
had increased the prices of electricity and
water in the emirates like Abu Dhabi and
Dubai from 2015, augmenting the bill
payments market.
Publication Price:
Single User:
USD 1,800
Hard Copy:
USD 2,600
Enterprise wide:
USD 3,600
Pages: 137
Related Reports
	India Bills Payment
Market Outlook to
2020 - Rising Internet
Penetration and
Advent of Mobile
Wallet to Shape
Future Growth
	Philippines Domestic
and International
Money Transfer
Industry Outlook to
2019 - Driven by
Mobile Money and
Increase in OFWs
	Philippines
Pawnshop Market
Outlook to 2020
- Convenience
with Pawning and
Remittance Services
to Stimulate
Growth
2011 2012 2013 2014 2015 2016
Figure: UAE Remittance and Bill Payments Market Size in Terms of Transaction Volume in
USD Billion, 2011-2016
WHICH CHANNEL OF REMITTANCE IS PREFFERED THE MOST?
UAE international and domestic remittance market
prefers different remittance channels.
International remittance market is dominated by the
exchange houses over banks. It accounted for a share
of ~% in terms of workers remittance outflow in 2016.
Major factor leading to the dominance of exchange
houses in the country is the high rate of unbanked
population. International remittance is led by the
expatriate population and the expatriates have bank
accounts in their home countries. They do not prefer to
open bank accounts in UAE since there are not much
investment opportunities available for expatriates in
UAE. Exchange houses in the country provide various
offers and discounts to their customers. They offer cash
pick up service to their customers, which enable them to
conveniently transfer their money. The exchange houses
use foreign exchange retailers such as Western Union,
InstaCash, Xpress Money and others to ensure a quicker
and faster transfer of funds from one country to another.
Such foreign exchange retailers provide the facility of last
minute cancellation with guaranteed refund including
the transfer fee.
Banks hold a meager share of ~% in international
remittance market. Though there is more number of
banks than exchange houses in the country, majority of
them are national banks. The national banks of UAE
follow the Islamic law. The Islamic law does not have
the concept of interest on deposits or loan. Hence, the
expatriates do not prefer having a bank account in UAE.
For remittances through bank one should have a bank
account.
Domestic remittance market can be classified into
business to business and personal remittances.
Banks dominate the domestic remittance market with a
share of ~% in the terms of transaction volume followed
by the non-banks. Banks represent the safest channel
for business to business transfers as huge amount of
money is involved in it. Moreover, banks provide current
account facilities to the business concerns and also they
are provided with additional services like personalized
agents and cash pick up service. In the event of some
urgent transaction requirement, the personalized agents
of the bank for the company will visit the company and
pick up cash and drop at the door step of the desired
recipient in person. Personal remittances are also
carried out through banks but at a lesser rate as the
bank does not provide any benefits to the personal
remittance customers. Non-Bank channel represents the
local transfer agents who facilitate fund transfers within
the country. During 2016, the non-bank channel held a
share of ~% in the overall market. Personal remittances
are majorly carried out through the non-banking
channels by the citizens of the country. The country
has a high rate of unbanked population. Non-banking
channels offer their services 24/7 and 365 days and are
easily accessible. This makes this channel convenient for
personal remittances.
9
© Licensed product of Ken Research; should not be copied
UAE Remittance and Bill Payments Market
Table: UAE Remittance Market Segmentation by Channel of
Remittance on the Basis of Transaction Volume and Workers
remittance Outflow in Percentage (%), 2016
Segments Percentage (%)
Exchange Houses ~
Banks ~
Non-Banks ~
10
© Licensed product of Ken Research; should not be copied
UAE Remittance and Bill Payments Market
WHICH TYPE OF SERVICE IS USED THE
MOST FOR REMITTANCE IN UAE?
WHICH TYPE OF BILL DOMINATES THE BILL
PAYMENTS MARKET IN UAE?
TheremittancemarketinUAEincludingbothinternational
and domestic remittance market is dominated by direct
credit to account and online services. It holds a share
of ~% in the overall market. This service is convenient
for the customers as they need not visit the branches for
the making a transfer. Except for some GCC countries,
the remittance to all other countries is made using direct
credit to account and online service. This service includes
less cost in comparison with other type of services and
it does not include the effort of visiting the branches in
person from both sending and receiving end.
It is followed by the cash pick up service that accounts
for a share of ~% in the market. Cash pick up service
is offered by both banks and exchange houses and is
beneficial for the customers in rural areas in the recipient
country. A drawback of the cash pick up service is that
it is a time consuming process, as the sender has to
approach the bank or exchange house in person and
remit the amount at the counter. Risk of loss and theft
are associated with the cash pick up facility. Prepaid
cards come last in type of service used. It is beneficial for
frequent travelers. They can reduce the inconvenience of
carrying cash. It enables the withdrawal of money from
any country in that country’s currency.
Utility bills are the major contributors to the bill payments
market. The market is dominated by electricity bills that
held a share of ~% in 2016. Electricity is the most used
utility in the country. Power consumption in the country
is rising due to the increasing population and the rising
business avenues. The home and business power
consumption is rising year on year which is a burden
for UAE in the energy sector. This has necessitated the
launch of awareness campaigns aimed at promoting a
culture of rational consumption of energy in all segments
of society. Mobile bills are holding the second position
in terms of bill payments with a share of 26.3% in the
overall bill payments market in 2016.
It is followed by water bills that held a share of ~% in
2016. UAE water consumption was considered as the
highest in the world as per 2013 reports. From January
1 2015, new water tariffs were applied in Abu Dhabi,
including water charges for Emiratis for the first time.
Residential water consumption represents 60.7% of
the overall water consumption in the country followed
by industrial, commercial and other non-commercial
sectors. Alongside the rising internet penetration, the
number of broadband connections is also increasing.
DTH services are the least contributors to the bill
payments market with a share of ~%.Table: UAE Remittance Market Segmentation by Type of
Service on the Basis of Transaction Volume and Workers
remittance Outflow in Percentage (%), 2016
Segments Percentage (%)
Direct Credit to Account
and Online
~
Cash Pick Up Service ~
Prepaid Cards ~
Table: UAE Bill Payments Market Segmentation by Type of
Bills on the Basis of Amount of Bill Payments in Percentage
(%), 2016
Segments Percentage (%)
Electricity ~
Mobile ~
Water ~
Broadband ~
DTH ~
11
© Licensed product of Ken Research; should not be copied
UAE Remittance and Bill Payments Market
HOW THE COMPETITION IS PREVAILING IN
UAE REMITTANCE MARKET
WHAT IS THE FUTURE OUTLOOK FOR UAE
REMITTANCE AND BILL PAYMENTS MARKET
International remittance market is a highly competitive
market. In UAE international remittances are carried out
through exchange houses and banks.	 Exchange
houses have the major share in the transfer. There
are more than ~ licensed exchange houses with more
than ~ branches in the country. There are three major
exchange houses that hold more than ~% share in the
market. These exchange houses are competing on the
basis of number of transactions, volume of transaction,
number of branches, services offered and others. In
the recent times exchange houses are facing increased
competition from banks.
Domestic remittance market is dominated by banks.
The number of banks is increasing every year in the
country intensifying the competition. The banks are in a
continuous process of improving their services for their
business customers. Banks are competing on the basis
of the volume of transaction, number of companies
with which they have tie up, the services offered and
other related factors. There are more than ~ banks with
more than 1000 branches in the country. Banks have
a very nominal share of personal remittances hence it
is dominated by the non-banking transfer agents who
provide services 24/7 to their customers.
UAE international remittance market is expected to
display a remarkable growth in the next five years.
The amplification of growth will be on the grounds of
rising number of expatriates owing to the employment
opportunities developed from the infrastructure
developmental activities linked to the World Expo 2020
in Dubai, expansion of airports, the Etihad rail, air and
marine transport systems and road networks in the
country.
The domestic remittance market and bill payments
market are also anticipated to display a staggering
growth during the forecast period, 2017-2021 at a
CAGR of ~%. Rising number of expatriates, internal
migration, growing non-oil private sector businesses,
rising utility prices and other related factors are set
to augment growth in the market during the forecast
period.
Table: Market Share of Major Players in the International
Remittance Market in %
Companies Price Range in PHP
UAE Exchange ~
Al Ansari Exchange ~
Al Fardan Exchange ~
Others ~
USDBillion
Figure: UAE Remittance and Bill Payments Market Future
Projections on the Basis of Transaction Volume in USD
Million, 2017-2021
2017 2018 2019 2020 2021
12
© Licensed product of Ken Research; should not be copied
UAE Remittance and Bill Payments Market
Companies Covered in the Report List of Companies
Major Players in UAE Remittance
and Bill Payments Market
•	 UAE Exchange
•	 Al Ansari Exchange
•	 Al Fardan Exchange
•	 Sharaf Exchange
•	 GCC Exchange
•	 Trriple
•	 PayFort
Parameters Description
Company Overview •	
USP •	
Business Strategy •	
Statistics •	
Workers Remittance Outflow, 2016 •	
Services •	
Number of branches, 2016 •	
Transaction Fees •	
Employees •	
Recent Developments •	
Mode of Transfer •	
Future Strategies •	
COMPANIES CITED IN THE REPORT
COMPETITIVE LANDSCAPE COVERED IN THE REPORT
KEY FACTORS CONSIDERED IN THE REPORT
•	 Comprehensive analysis of UAE Remittance and Bill Payments Market and its segments
•	 Listed major players and their positioning in the market
•	 Identified major industry trends in last few years and assessed the future growth of the industry
•	 SWOT analysis on UAE Remittance and Bill Payments Market
•	 Value chain analysis of UAE Remittance and Bill Payments Market
DISCLAIMER
The research reports provided by Ken Research are for the personal information of the authorized
recipient and is not for public distribution and should not be reproduced or redistributed without
prior permission. None of this material may be used for any commercial or public use until unless
authorized by Ken Research. The report will only be used as per the license rights authorized by Ken
Research.
The information provided in the research documents is from publicly available data and other sources,
which are reliable. Efforts are made to try and ensure accuracy of data. With respect to documents
available, neither the company nor any of its employees makes any warranty, express or implied,
including the warranties of merchantability and fitness for a particular purpose, or assumes any legal
liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus,
product, or process disclosed, or represents that its use will not infringe privately owned rights.
The report also includes analysis and views expressed by our research team. The research reports
are purely for information purposes. The opinions expressed are our current opinions as of the date
appearing in the material and may be subject to change from time to time without notice. Investors
should not solely rely on the information contained in the research documents and must make
investment decisions based on their own investment objectives, risk profile and financial position. The
recipients of this material should take their own professional advice before acting on this information.
Ken Research will not accept return of reports once dispatched due to the confidentiality of information
provided in our reports. In case, a report qualify for return, we will issue a credit, minus shipping
charges, of equal value to the original purchase price, toward a future purchase—no refunds. The
decision about whether the product return can be accepted or not is solely at our discretion. Any
dispute will be subject to laws of India and exclusive jurisdiction of Indian Courts
No part of this manual or any material appearing may be reproduced, stored in or transmitted on
any other Web site without written permission of Ken Research and any payments of a specified fee.
Requests to republish any material may be sent to us.
© Licensed product of Ken Research; should not be copied
13
© Ken Research Private Limited, 2017. All rights reserved.
For information or permission to reprint, please contact Ken Research at:
Email: 	query@kenresearch.com
Mail:	 Ken Research Private Limited
27A, Ground Floor, Spaze I Techpark,
Sector 49, Sohna Road Gurgaon – 122001,India
To find latest content or related reports on the sector, please register at www.kenresearch.
com
Follow Ken Research on Linkedin, Facebook and Twitter
CONTACT US
© Licensed product of Ken Research; should not be copied
14

More Related Content

What's hot

World Islamic Banking Competitiveness Report 2016
World Islamic Banking Competitiveness Report 2016World Islamic Banking Competitiveness Report 2016
World Islamic Banking Competitiveness Report 2016The Solution
 
Examining Country: Specific Regulations Related to Money Transfer
Examining Country: Specific Regulations Related to Money TransferExamining Country: Specific Regulations Related to Money Transfer
Examining Country: Specific Regulations Related to Money TransferArief Gunawan
 
Emerging Capital Markets: The Road to 2030
Emerging Capital Markets: The Road to 2030Emerging Capital Markets: The Road to 2030
Emerging Capital Markets: The Road to 2030Credit Suisse
 
Product Brochure: Kazakhstan B2C E-Commerce Market 2019
Product Brochure: Kazakhstan B2C E-Commerce Market 2019Product Brochure: Kazakhstan B2C E-Commerce Market 2019
Product Brochure: Kazakhstan B2C E-Commerce Market 2019yStats.com
 
Capital-Infraestructure-spending-outlook-2016
Capital-Infraestructure-spending-outlook-2016Capital-Infraestructure-spending-outlook-2016
Capital-Infraestructure-spending-outlook-2016PwC España
 
19.11.2013 How Mongolian banks and financial institutions are dealing with th...
19.11.2013 How Mongolian banks and financial institutions are dealing with th...19.11.2013 How Mongolian banks and financial institutions are dealing with th...
19.11.2013 How Mongolian banks and financial institutions are dealing with th...The Business Council of Mongolia
 
01.05.2014 Examining how Mongolian banks and financial institutions are deali...
01.05.2014 Examining how Mongolian banks and financial institutions are deali...01.05.2014 Examining how Mongolian banks and financial institutions are deali...
01.05.2014 Examining how Mongolian banks and financial institutions are deali...The Business Council of Mongolia
 
Banking industry analysis report
Banking industry analysis reportBanking industry analysis report
Banking industry analysis reportDeepak Kasturi
 
Bancolombia on Financial Inclusion in Colombia
Bancolombia on Financial Inclusion in ColombiaBancolombia on Financial Inclusion in Colombia
Bancolombia on Financial Inclusion in ColombiaChris Skinner
 
Pwc fintech-global-report-2016
Pwc fintech-global-report-2016Pwc fintech-global-report-2016
Pwc fintech-global-report-2016PwC España
 
Rong Viet Securities - Investment Strategy June 2018
Rong Viet Securities - Investment Strategy June 2018Rong Viet Securities - Investment Strategy June 2018
Rong Viet Securities - Investment Strategy June 2018Thomas Farthofer
 
BBVA on Financial Inclusion in Argentina
BBVA on Financial Inclusion in ArgentinaBBVA on Financial Inclusion in Argentina
BBVA on Financial Inclusion in ArgentinaChris Skinner
 
Payments: Future in Pakistan, the Action Plan and the Role of SBP
Payments: Future in Pakistan, the Action Plan and the Role of SBPPayments: Future in Pakistan, the Action Plan and the Role of SBP
Payments: Future in Pakistan, the Action Plan and the Role of SBPMansoor A. Seelro
 
Doing business in Georgia. Discover new opportunities
Doing business in Georgia. Discover new opportunities Doing business in Georgia. Discover new opportunities
Doing business in Georgia. Discover new opportunities Eurofast
 
Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...
Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...
Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...jitendra kute
 
Financial sector opens up further
Financial sector opens up furtherFinancial sector opens up further
Financial sector opens up furtherBoyboy cute
 
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...Shkumbin Gërguri
 
Product Brochure: Samsung Pay Profile 2019
Product Brochure: Samsung Pay Profile 2019Product Brochure: Samsung Pay Profile 2019
Product Brochure: Samsung Pay Profile 2019yStats.com
 

What's hot (20)

World Islamic Banking Competitiveness Report 2016
World Islamic Banking Competitiveness Report 2016World Islamic Banking Competitiveness Report 2016
World Islamic Banking Competitiveness Report 2016
 
MTBiz June 2016
MTBiz June 2016MTBiz June 2016
MTBiz June 2016
 
Examining Country: Specific Regulations Related to Money Transfer
Examining Country: Specific Regulations Related to Money TransferExamining Country: Specific Regulations Related to Money Transfer
Examining Country: Specific Regulations Related to Money Transfer
 
Emerging Capital Markets: The Road to 2030
Emerging Capital Markets: The Road to 2030Emerging Capital Markets: The Road to 2030
Emerging Capital Markets: The Road to 2030
 
Product Brochure: Kazakhstan B2C E-Commerce Market 2019
Product Brochure: Kazakhstan B2C E-Commerce Market 2019Product Brochure: Kazakhstan B2C E-Commerce Market 2019
Product Brochure: Kazakhstan B2C E-Commerce Market 2019
 
Capital-Infraestructure-spending-outlook-2016
Capital-Infraestructure-spending-outlook-2016Capital-Infraestructure-spending-outlook-2016
Capital-Infraestructure-spending-outlook-2016
 
19.11.2013 How Mongolian banks and financial institutions are dealing with th...
19.11.2013 How Mongolian banks and financial institutions are dealing with th...19.11.2013 How Mongolian banks and financial institutions are dealing with th...
19.11.2013 How Mongolian banks and financial institutions are dealing with th...
 
01.05.2014 Examining how Mongolian banks and financial institutions are deali...
01.05.2014 Examining how Mongolian banks and financial institutions are deali...01.05.2014 Examining how Mongolian banks and financial institutions are deali...
01.05.2014 Examining how Mongolian banks and financial institutions are deali...
 
Banking industry analysis report
Banking industry analysis reportBanking industry analysis report
Banking industry analysis report
 
Bancolombia on Financial Inclusion in Colombia
Bancolombia on Financial Inclusion in ColombiaBancolombia on Financial Inclusion in Colombia
Bancolombia on Financial Inclusion in Colombia
 
Pwc fintech-global-report-2016
Pwc fintech-global-report-2016Pwc fintech-global-report-2016
Pwc fintech-global-report-2016
 
Rong Viet Securities - Investment Strategy June 2018
Rong Viet Securities - Investment Strategy June 2018Rong Viet Securities - Investment Strategy June 2018
Rong Viet Securities - Investment Strategy June 2018
 
MTBiz August-September 2016
MTBiz August-September 2016MTBiz August-September 2016
MTBiz August-September 2016
 
BBVA on Financial Inclusion in Argentina
BBVA on Financial Inclusion in ArgentinaBBVA on Financial Inclusion in Argentina
BBVA on Financial Inclusion in Argentina
 
Payments: Future in Pakistan, the Action Plan and the Role of SBP
Payments: Future in Pakistan, the Action Plan and the Role of SBPPayments: Future in Pakistan, the Action Plan and the Role of SBP
Payments: Future in Pakistan, the Action Plan and the Role of SBP
 
Doing business in Georgia. Discover new opportunities
Doing business in Georgia. Discover new opportunities Doing business in Georgia. Discover new opportunities
Doing business in Georgia. Discover new opportunities
 
Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...
Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...
Insurance Fraud Detection Market Projection By Key Players, Status, Growth, R...
 
Financial sector opens up further
Financial sector opens up furtherFinancial sector opens up further
Financial sector opens up further
 
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...
NORMAT E INTERESIT / INTEREST RATES IMPACT AND LOAN SYSTEM IN THE ECONOMIC DE...
 
Product Brochure: Samsung Pay Profile 2019
Product Brochure: Samsung Pay Profile 2019Product Brochure: Samsung Pay Profile 2019
Product Brochure: Samsung Pay Profile 2019
 

Similar to Outbound money transfer in uae,sharaf exchange remittance in uae,trriple money transfer volume in uae ken research

Emerging Opportunities in Saudi Arabia's Cards and Payments Industry: Market ...
Emerging Opportunities in Saudi Arabia's Cards and Payments Industry:
Market ...Emerging Opportunities in Saudi Arabia's Cards and Payments Industry:
Market ...
Emerging Opportunities in Saudi Arabia's Cards and Payments Industry: Market ...ReportsnReports
 
Overseas filipino remittance philippines,money remittance business philippine...
Overseas filipino remittance philippines,money remittance business philippine...Overseas filipino remittance philippines,money remittance business philippine...
Overseas filipino remittance philippines,money remittance business philippine...Ashish Chauhan
 
Gulf Cooperation Council - B2C e-Commerce Overview 2011
Gulf Cooperation Council - B2C e-Commerce Overview 2011Gulf Cooperation Council - B2C e-Commerce Overview 2011
Gulf Cooperation Council - B2C e-Commerce Overview 2011Melih ÖZCANLI
 
GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...
GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...
GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...NarayanSharma67
 
OmlisWP_Mobile_Payments_Security_UAERussia
OmlisWP_Mobile_Payments_Security_UAERussiaOmlisWP_Mobile_Payments_Security_UAERussia
OmlisWP_Mobile_Payments_Security_UAERussiahelmutokike
 
World Payments Report 2014 Key Findings Presentation
World Payments Report 2014 Key Findings PresentationWorld Payments Report 2014 Key Findings Presentation
World Payments Report 2014 Key Findings PresentationCapgemini
 
Product Brochure: Middle East B2C E-Commerce Market 2016
Product Brochure: Middle East B2C E-Commerce Market 2016Product Brochure: Middle East B2C E-Commerce Market 2016
Product Brochure: Middle East B2C E-Commerce Market 2016yStats.com
 
Rbi policy stat_q103012
Rbi policy stat_q103012Rbi policy stat_q103012
Rbi policy stat_q103012atul baride
 
Arap dünyası e ticaret raporu
Arap dünyası e ticaret raporu Arap dünyası e ticaret raporu
Arap dünyası e ticaret raporu Aras Dagli
 
Financial Cards and Payments in Australia
Financial Cards and Payments in AustraliaFinancial Cards and Payments in Australia
Financial Cards and Payments in AustraliaReportsnReports
 
Product Brochure: Middle East B2C E-Commerce Market 2018
Product Brochure: Middle East B2C E-Commerce Market 2018Product Brochure: Middle East B2C E-Commerce Market 2018
Product Brochure: Middle East B2C E-Commerce Market 2018yStats.com
 
Product Brochure: Saudi Arabia B2C E-Commerce Market 2019
Product Brochure: Saudi Arabia B2C E-Commerce Market 2019Product Brochure: Saudi Arabia B2C E-Commerce Market 2019
Product Brochure: Saudi Arabia B2C E-Commerce Market 2019yStats.com
 
Sample Report: Saudi Arabia B2C E-Commerce Market 2016
Sample Report: Saudi Arabia B2C E-Commerce Market 2016Sample Report: Saudi Arabia B2C E-Commerce Market 2016
Sample Report: Saudi Arabia B2C E-Commerce Market 2016yStats.com
 
Consumer Finance in Ukraine
Consumer Finance in UkraineConsumer Finance in Ukraine
Consumer Finance in UkraineReportsnReports
 
World Payments Report 2011
World Payments Report 2011World Payments Report 2011
World Payments Report 2011dantonov
 
World Payments Report, 2011
World Payments Report, 2011World Payments Report, 2011
World Payments Report, 2011Animish Gautam
 
Vietnam Consumer Finance Report 2020
Vietnam Consumer Finance Report 2020Vietnam Consumer Finance Report 2020
Vietnam Consumer Finance Report 2020FiinGroup JSC
 
State of Payments 2016
State of Payments 2016State of Payments 2016
State of Payments 2016PAYFORT
 
Financial Cards and Payments in the US
Financial Cards and Payments in the USFinancial Cards and Payments in the US
Financial Cards and Payments in the USReportsnReports
 

Similar to Outbound money transfer in uae,sharaf exchange remittance in uae,trriple money transfer volume in uae ken research (20)

Emerging Opportunities in Saudi Arabia's Cards and Payments Industry: Market ...
Emerging Opportunities in Saudi Arabia's Cards and Payments Industry:
Market ...Emerging Opportunities in Saudi Arabia's Cards and Payments Industry:
Market ...
Emerging Opportunities in Saudi Arabia's Cards and Payments Industry: Market ...
 
Overseas filipino remittance philippines,money remittance business philippine...
Overseas filipino remittance philippines,money remittance business philippine...Overseas filipino remittance philippines,money remittance business philippine...
Overseas filipino remittance philippines,money remittance business philippine...
 
6-Group Project9
6-Group Project96-Group Project9
6-Group Project9
 
Gulf Cooperation Council - B2C e-Commerce Overview 2011
Gulf Cooperation Council - B2C e-Commerce Overview 2011Gulf Cooperation Council - B2C e-Commerce Overview 2011
Gulf Cooperation Council - B2C e-Commerce Overview 2011
 
GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...
GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...
GCC Financial Cards & Payments Market Size, Share, Demand, Growth, Trends and...
 
OmlisWP_Mobile_Payments_Security_UAERussia
OmlisWP_Mobile_Payments_Security_UAERussiaOmlisWP_Mobile_Payments_Security_UAERussia
OmlisWP_Mobile_Payments_Security_UAERussia
 
World Payments Report 2014 Key Findings Presentation
World Payments Report 2014 Key Findings PresentationWorld Payments Report 2014 Key Findings Presentation
World Payments Report 2014 Key Findings Presentation
 
Product Brochure: Middle East B2C E-Commerce Market 2016
Product Brochure: Middle East B2C E-Commerce Market 2016Product Brochure: Middle East B2C E-Commerce Market 2016
Product Brochure: Middle East B2C E-Commerce Market 2016
 
Rbi policy stat_q103012
Rbi policy stat_q103012Rbi policy stat_q103012
Rbi policy stat_q103012
 
Arap dünyası e ticaret raporu
Arap dünyası e ticaret raporu Arap dünyası e ticaret raporu
Arap dünyası e ticaret raporu
 
Financial Cards and Payments in Australia
Financial Cards and Payments in AustraliaFinancial Cards and Payments in Australia
Financial Cards and Payments in Australia
 
Product Brochure: Middle East B2C E-Commerce Market 2018
Product Brochure: Middle East B2C E-Commerce Market 2018Product Brochure: Middle East B2C E-Commerce Market 2018
Product Brochure: Middle East B2C E-Commerce Market 2018
 
Product Brochure: Saudi Arabia B2C E-Commerce Market 2019
Product Brochure: Saudi Arabia B2C E-Commerce Market 2019Product Brochure: Saudi Arabia B2C E-Commerce Market 2019
Product Brochure: Saudi Arabia B2C E-Commerce Market 2019
 
Sample Report: Saudi Arabia B2C E-Commerce Market 2016
Sample Report: Saudi Arabia B2C E-Commerce Market 2016Sample Report: Saudi Arabia B2C E-Commerce Market 2016
Sample Report: Saudi Arabia B2C E-Commerce Market 2016
 
Consumer Finance in Ukraine
Consumer Finance in UkraineConsumer Finance in Ukraine
Consumer Finance in Ukraine
 
World Payments Report 2011
World Payments Report 2011World Payments Report 2011
World Payments Report 2011
 
World Payments Report, 2011
World Payments Report, 2011World Payments Report, 2011
World Payments Report, 2011
 
Vietnam Consumer Finance Report 2020
Vietnam Consumer Finance Report 2020Vietnam Consumer Finance Report 2020
Vietnam Consumer Finance Report 2020
 
State of Payments 2016
State of Payments 2016State of Payments 2016
State of Payments 2016
 
Financial Cards and Payments in the US
Financial Cards and Payments in the USFinancial Cards and Payments in the US
Financial Cards and Payments in the US
 

More from Ashish Chauhan

End Point Security Market Middle East, Middle East Cyber Security industry re...
End Point Security Market Middle East, Middle East Cyber Security industry re...End Point Security Market Middle East, Middle East Cyber Security industry re...
End Point Security Market Middle East, Middle East Cyber Security industry re...Ashish Chauhan
 
India poct market outlook to 2023
India poct market outlook to 2023India poct market outlook to 2023
India poct market outlook to 2023Ashish Chauhan
 
Advanced wound care industry,wound care products market segmentation,market g...
Advanced wound care industry,wound care products market segmentation,market g...Advanced wound care industry,wound care products market segmentation,market g...
Advanced wound care industry,wound care products market segmentation,market g...Ashish Chauhan
 
Wound care market,wound management market share ,advanced wound care market t...
Wound care market,wound management market share ,advanced wound care market t...Wound care market,wound management market share ,advanced wound care market t...
Wound care market,wound management market share ,advanced wound care market t...Ashish Chauhan
 
Facility management services in qatar,facility management opportunities qatar...
Facility management services in qatar,facility management opportunities qatar...Facility management services in qatar,facility management opportunities qatar...
Facility management services in qatar,facility management opportunities qatar...Ashish Chauhan
 
Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...
Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...
Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...Ashish Chauhan
 
Ride sharing apps in indonesia,on demand grocery market,go jek market share i...
Ride sharing apps in indonesia,on demand grocery market,go jek market share i...Ride sharing apps in indonesia,on demand grocery market,go jek market share i...
Ride sharing apps in indonesia,on demand grocery market,go jek market share i...Ashish Chauhan
 
Latin america cyber security market,symantec market share internet security,m...
Latin america cyber security market,symantec market share internet security,m...Latin america cyber security market,symantec market share internet security,m...
Latin america cyber security market,symantec market share internet security,m...Ashish Chauhan
 
India land leveler market,india power weeder industry,india cono weeder marke...
India land leveler market,india power weeder industry,india cono weeder marke...India land leveler market,india power weeder industry,india cono weeder marke...
India land leveler market,india power weeder industry,india cono weeder marke...Ashish Chauhan
 
Private hospitals in the philippines,philippines hospital industry,maternity ...
Private hospitals in the philippines,philippines hospital industry,maternity ...Private hospitals in the philippines,philippines hospital industry,maternity ...
Private hospitals in the philippines,philippines hospital industry,maternity ...Ashish Chauhan
 

More from Ashish Chauhan (10)

End Point Security Market Middle East, Middle East Cyber Security industry re...
End Point Security Market Middle East, Middle East Cyber Security industry re...End Point Security Market Middle East, Middle East Cyber Security industry re...
End Point Security Market Middle East, Middle East Cyber Security industry re...
 
India poct market outlook to 2023
India poct market outlook to 2023India poct market outlook to 2023
India poct market outlook to 2023
 
Advanced wound care industry,wound care products market segmentation,market g...
Advanced wound care industry,wound care products market segmentation,market g...Advanced wound care industry,wound care products market segmentation,market g...
Advanced wound care industry,wound care products market segmentation,market g...
 
Wound care market,wound management market share ,advanced wound care market t...
Wound care market,wound management market share ,advanced wound care market t...Wound care market,wound management market share ,advanced wound care market t...
Wound care market,wound management market share ,advanced wound care market t...
 
Facility management services in qatar,facility management opportunities qatar...
Facility management services in qatar,facility management opportunities qatar...Facility management services in qatar,facility management opportunities qatar...
Facility management services in qatar,facility management opportunities qatar...
 
Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...
Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...
Manufacturers di pipe in india,ductile iron pipe sector,india hdpe pipe manuf...
 
Ride sharing apps in indonesia,on demand grocery market,go jek market share i...
Ride sharing apps in indonesia,on demand grocery market,go jek market share i...Ride sharing apps in indonesia,on demand grocery market,go jek market share i...
Ride sharing apps in indonesia,on demand grocery market,go jek market share i...
 
Latin america cyber security market,symantec market share internet security,m...
Latin america cyber security market,symantec market share internet security,m...Latin america cyber security market,symantec market share internet security,m...
Latin america cyber security market,symantec market share internet security,m...
 
India land leveler market,india power weeder industry,india cono weeder marke...
India land leveler market,india power weeder industry,india cono weeder marke...India land leveler market,india power weeder industry,india cono weeder marke...
India land leveler market,india power weeder industry,india cono weeder marke...
 
Private hospitals in the philippines,philippines hospital industry,maternity ...
Private hospitals in the philippines,philippines hospital industry,maternity ...Private hospitals in the philippines,philippines hospital industry,maternity ...
Private hospitals in the philippines,philippines hospital industry,maternity ...
 

Recently uploaded

Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )Pooja Nehwal
 
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure serviceCall US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure servicePooja Nehwal
 
06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf
06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf
06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdfFinTech Belgium
 
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...Call Girls in Nagpur High Profile
 
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...Call Girls in Nagpur High Profile
 
The Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdfThe Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdfGale Pooley
 
Gurley shaw Theory of Monetary Economics.
Gurley shaw Theory of Monetary Economics.Gurley shaw Theory of Monetary Economics.
Gurley shaw Theory of Monetary Economics.Vinodha Devi
 
The Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfThe Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfGale Pooley
 
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779Delhi Call girls
 
00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptx00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptxFinTech Belgium
 
The Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdfThe Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdfGale Pooley
 
Indore Real Estate Market Trends Report.pdf
Indore Real Estate Market Trends Report.pdfIndore Real Estate Market Trends Report.pdf
Indore Real Estate Market Trends Report.pdfSaviRakhecha1
 
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptxFinTech Belgium
 
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...Call Girls in Nagpur High Profile
 
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...ssifa0344
 
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...ranjana rawat
 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...ranjana rawat
 

Recently uploaded (20)

Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
Vip Call US 📞 7738631006 ✅Call Girls In Sakinaka ( Mumbai )
 
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
 
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure serviceCall US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
 
06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf
06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf
06_Joeri Van Speybroek_Dell_MeetupDora&Cybersecurity.pdf
 
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
 
(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7
(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7
(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7
 
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
 
The Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdfThe Economic History of the U.S. Lecture 21.pdf
The Economic History of the U.S. Lecture 21.pdf
 
Gurley shaw Theory of Monetary Economics.
Gurley shaw Theory of Monetary Economics.Gurley shaw Theory of Monetary Economics.
Gurley shaw Theory of Monetary Economics.
 
The Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfThe Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdf
 
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
 
00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptx00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptx
 
The Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdfThe Economic History of the U.S. Lecture 19.pdf
The Economic History of the U.S. Lecture 19.pdf
 
Indore Real Estate Market Trends Report.pdf
Indore Real Estate Market Trends Report.pdfIndore Real Estate Market Trends Report.pdf
Indore Real Estate Market Trends Report.pdf
 
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
 
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
 
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
 
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
 
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
VIP Independent Call Girls in Andheri 🌹 9920725232 ( Call Me ) Mumbai Escorts...
 

Outbound money transfer in uae,sharaf exchange remittance in uae,trriple money transfer volume in uae ken research

  • 1. UAE Remittance and Bill Payments Market Outlook to 2021 Rising Expatriate Population, Growing Business Activities and Increasing Demand for Utilities to Foster Growth COMPANIES MENTIONED • International Money Transfer • Domestic Money Transfer • Bill Payment Services • Inbound Money Transfer • Outbound Money Transfer UAE Exchange, Al Ansari Exchange, Al Fardan Exchange, Sharaf Exchange, Trriple, GCC Exchnage PRODUCTS MENTIONED May 2017
  • 2. TableofContent 1. Executive Summary Market Potential Market Segmentation Trends and Developments Competitive Landscape Future Analysis And Projections 2. UAE Remittance Market – Genesis and Overview Remittance Industry Led by Expatriates Lack of Provision of Citizenship – Triggering Remittance Outflow Remittance Charges – Positive Impact on Remittance Outflows Impact of Remittance Outflows on UAE and Receiving Economies Customers Current Scenario 3. Value Chain Analysis in UAE Remittance and Bill Payments Market International Remittance Market Domestic Remittance Market 4. Comparison of Global Remittance and UAE Remittance Market Global and UAE Remittance Market Outlook Remittance Charges US Remittance and UAE Remittance – A comparison on Remittance Outflow 5. UAE International Remittance Market 5.1. UAE International Remittance Market Size, 2011-2016 5.2. UAE International Remittance Market Segmentation 5.2.1. By Banks and Exchange Houses, 2014-2016 5.2.2. By Major Flow Corridors, 2014-2016 5.2.3. By Mode of Transfer (Electronic, Cash or in kind account, money order), 2016 5.2.4. By Type of Services (Online and Direct Credit to Bank Accounts, Cash Pick Up and Prepaid Cards), 2016 5.3. Favorable Options for the Customer to Make International Bank Transfers from UAE 5.4. Market Share in International Remittance Market, 2016 5.5. Future Outlook and Projections of UAE International Remittance Market, 2017-2021 6. UAE Domestic Money Transfer and Bill Payment Market 6.1. UAE Domestic Money Transfer Market Size, 2012-2016 6.1.1. By Transaction Volume, 2012-2016 6.2. UAE Domestic Money Transfer Market Segmentation 6.2.1. By Major Remittance Channel: Banks and non Banks, 2016 6.2.2. By Types of Services: Cash Pick Up, Online and Direct Credit to Banks and Prepaid Cards, 2016 6.3. Future Outlook and Projections of UAE Domestic Remittance Market, 2017-2021 7. UAE Bill Payments Market 7.1. UAE Bill Payment Market Size, 2011-2016 7.2. UAE Bill Payments Market Segmentation 7.2.1. By Type of Bills: Electricity, Water, Mobile, DTH and Broadband, 2016 8. Future Outlook and Projections for UAE Bill Payments Market, 2017-2021 9. Government Regulations in UAE Remittance and Bill Payments Market
  • 3. TableofContent 10. Trends and Developments in UAE Remittance and Bill Payments Market 10.1. Current Trends Proliferation of Digital modes of Money Transfers Decreasing Remittance Charges High Average Wage Rates Currency Fluctuations in Migrant Countries Expatriate Remittances Surge during Festive Season 10.2. Upcoming Trends Rising Business and, Infrastructure Developmental Activities Increasing number of foreign exchange and remittance company branches 11. Issues and Challenges in UAE Remittance and Bill Payments Market Rate of Unbanked Population Threat of Money Laundering Activities Lack of Security and Knowledge Stringent Banking Regulations Falling Oil Prices 12. SWOT Analysis for UAE Remittance and Bill Payments Market 13. Competitive Landscape of Major Players in UAE Remittance Market 13.1. Competition Scenario International Remittance Market Cost of Remittance Domestic Remittance Market 13.2. Company Profiles of Major Players in UAE Remittance and Bill Payments Market 13.2.1. UAE Exchange 13.2.2. Al Fardan Exchange 13.2.3. Al Ansari Exchange 13.2.4. Sharaf Exchange 13.2.5. GCC Exchange 13.2.6. Trriple 14. Analyst Recommendations 15. Macro Economic Factors for UAE Remittance and Bill Payments Market 15.1. Number of Banks Branches in UAE, 2011-2021 15.2. Population in UAE, 2011-2021 15.3. Consumer Expenditure in UAE, 2011-2021 15.4. Number of Debit and Credit Cards Issued in UAE, 2011-2021 16. Research Methodology 16.1. Market Definitions 16.2. Abbreviations 16.3. Market Size And Modeling Approach – Market Sizing Market Sizing – Domestic and International Remittance Market Market Sizing – Bill Payments Market Variables (Dependent and Independent) Multi Factor Based Sensitivity Model Final Conclusion Disclaimer Contact Us
  • 4. LISTOFFIGURES Figure 1-1: Flow Chart for UAE Remittance and Bill Payments Market, 2016 Figure 3-1: Value Chain Analysis of UAE Remittance Market Figure 4-1: Global Average Cost of Remittance in Percentage of the Remittance Transaction Volume, 2012-2016 Figure 4-2: Global Remittance Market Size on the Basis of Transaction Volume in USD billion, 2011-2016 Figure 4-3: International Remittance Segmentation by Developing-Developing, Developing- Developed, Developed –Developing and Developed-Developed Countries Remittance on the Basis of Transaction Volume in Percentage, 2015 Figure 5-1: UAE International Remittance (Inflow and Outflow) Market Size on the Basis of Transaction Volume in USD Billion, 2011-2016 Figure 5-2: UAE International Remittance Outflow and Inflow Growth Rate in Percentage (%), 2012 - 2016 Figure 5-3: UAE Remittance Market Segmentation by Banks and Exchange Houses on the basis of Workers Remittance Outflow on the Basis of Transaction Volume in Percentage (%), 2016 Figure 5-4: UAE International Remittance Market Segmentation by Major Flow Corridors on the Basis of Workers Remittance Outflow on the Basis of Transaction Volume in Percentage (%), 2016 Figure 5-5: UAE International Remittance Market Segmentation by Modes of Transfer (Electronic Transfer, Money Order and Cash Account) on the basis of Workers Remittance Outflow on the Basis of Transaction Volume in Percentage, 2016 Figure 5-6: UAE International Remittance Market Segmentation by Type of Services (Credit to account and online, Cash Pick Up and Prepaid Cards) on the basis of Workers Remittance Outflow on the Basis of Transaction Volume in Percentage, 2016 Figure 5-7: Future Outlook and Projections for UAE International Remittance Market on the basis of Workers Remittance in USD Billion, 2017-2021 Figure 6-1: UAE Remittance Market Size by Domestic Remittance Transaction Volume in USD Billion and Growth Rate in Percentage (%), 2012-2016 Figure 6-2: UAE Domestic Remittance Market Average Transaction Size in USD Thousands, 2011-2016 Figure 6-3: UAE Domestic Remittance Market Size on the Basis of Number of Remittance Transactions in Thousands, 2012-2016 Figure 6-4: UAE Domestic Remittance Market Segmentation by Major Remittance Channel (Banks and Non Banks) on the Basis of Transaction Volume in Percentage (%), 2016 Figure 6-5: UAE Domestic Market Segmentation by Type of Services (Online and Direct Credit to Bank, Cash Pick up and Prepaid Cards) on the Basis of Transaction Volume in Percentage (%), 2016 Figure 6-6: Future Outlook and Projections for UAE Domestic Remittance Market on the Basis of Transaction Volume in USD Billion, 2017-2021 Figure 7-1: UAE Bill Payments Market Size on the Basis of Transaction Value in USD Billion, 2011-2016 Figure 7-2: UAE Bill Payments Market Segmentation by Type of Bills on the Basis of Transaction Value in Percentage (%), 2016
  • 5. LISTOFFIGURES Figure 7-3: ARPU for Mobile Bills in UAE in AED, 2012-2015 Figure 7-4: ARPU for Internet Bills in UAE in AED, 2012-2015 Figure 8-1: Future Outlook and Projections for UAE Bill Payments Market on the Basis of Transaction Value in USD Million, 2017-2021 Figure 10-1: Internet Users in UAE in Million, 2000-2016 Figure 10-2: Average Exchange Rate of Some Countries per AED, 2012-2016 Figure 15-1: Number of Banks Branches in UAE, 2011-2021 Figure 15-2: Population in UAE in Number of Heads, 2011-2021 Figure 15-3: Consumer Expenditure in UAE in USD Million, 2011-2021 Figure 15-4: Number of Debit and Credit Cards Issued in UAE in Million, 2011-2021
  • 6. LISTOFTABLES Table 3-1: Value chain Analysis: Major Parties and Process involved in UAE International Remittance Table 4-1: Top Ten Countries by Remittance Outflows in USD Billion, 2014 Table 4-2: Top Ten Remittance Recipient Countries in USD Billion, 2014 Table 4-3: Total Average Cost of Remittance by Regions of the World, 2012-2016 Table 4-4: International Remittance Segmentation by Developing-Developing, Developing- Developed, Developed –Developing and Developed-Developed Countries Remittance on the Basis of Transaction Volume in USD billion, 2015 Table 4-5: Top Ten Corridors of Remittance in USD Billion, 2015 Table 4-6: US Remittance and UAE Remittance – A Comparison Table 4-7: Total cost of Remittances per USD 200 for Some Common Corridors of US and UAE, 2016 Table 5-1: Rationale and Description for UAE International Remittance Market Size, 2011-2016 Table 5-2: UAE International Remittance Market Size by International Remittance Outflow and Inflow in USD Billion, 2011-2016 Table 5-3: Rationale and Description for UAE International Remittance Market Segmentation by Exchange Houses and Banks, 2014-2016 Table 5-4: UAE International Remittance Market Segmentation by Banks and Exchange Houses on the Basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD billion, 2014-2016 Table 5-5: Number of Banks and Exchange House Branches in UAE by Emirate, 2014 Table 5-6: Rationale and Description for UAE International Remittance Market Segmentation by Major Outbound Flow Corridors, 2014-2016 Table 5-7: UAE International Remittance Market Segmentation by Major Flow Corridors on the basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD billion, 2014-2016 Table 5-8: UAE Population by Nationality in Number of Heads, 2016 Table 5-9: Rationale and Description for UAE International Remittance Market Segmentation by Mode of Transfer (Electronic, Cash or in kind account and Money order), 2016 Table 5-10: UAE International Remittance Market Segmentation by Modes of Transfer on the basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD Billion, 2016 Table 5-11: Rationale and Description for UAE International Remittance Market Segmentation by Mode of Transfer, 2016 Table 5-12: UAE International Remittance Market Segmentation by Modes of Transfer on the basis of Workers Remittance Outflow on the Basis of Transaction Volume in USD Billion, 2016 Table 5-13: Favorable Options for the Customer to Make International Bank Transfer from UAE Table 5-14: Major Players in UAE International Remittance Market Table 5-15: Market share of Major Players in UAE International Remittance Market on the Basis of Remittance Outflow on the Basis of Transaction Volume in Percentage (%), 2016 Table 5-16: Strategic Analysis for Exchange Houses and Banks in the Future Table 5-17: Future Outlook for UAE International Remittance Market on the Basis of Workers Remittance Inflow and Outflow, 2017-2021
  • 7. LISTOFTABLES Table 6-1: Rationale and Description for UAE Domestic Remittance Market Size on the basis of Transaction Volume, 2012-2016 Table 6-2: Rationale and Description for UAE Domestic Remittance Market Segmentation by Major Remittance Channel (Banks and Non Banks), 2016 Table 6-3: UAE Domestic Remittance Market Segmentation by Major Remittance Channel (Banks and Non Banks) on the Basis of Transaction Volume in USD Billion, 2016 Table 6-4: Rationale and Description for UAE Domestic Remittance Market Segmentation by Type of Services, 2016 Table 6-5: UAE Domestic Market Segmentation by Type of Services (Online and Direct Credit to Bank, Cash Pick up and Prepaid Cards) on the Basis of Transaction Volume in USD Million, 2016 Table 6-6: Future Outlook for UAE Domestic Remittance Market on the Basis of Transaction Volume, 2017-2021 Table 7-1: Rationale and Description for UAE Bill Payments Market Size on the Basis of Transaction Value, 2011-2016 Table 7-2: Rationale and Description for UAE Bill Payments Market Segmentation by Type of Bills, 2016 Table 7-3: UAE Bill Payments Market Segmentation by Type of Bills on the Basis of Transaction Value in USD Million, 2016 Table 8-1: Future Outlook for UAE Bill Payments Market on the Basis of Transaction Value, 2017-2021 Table 9-1: Anti-Money laundering and Counter-Terrorist financing Regulations in UAE Table 9-2: New Electronic Payment Regulations, UAE Table 9-3: Regulations on Licensing of Exchange Houses UAE, 1986 Table 9-4: Regulations on Re-Licensing and Monitoring Exchange Houses, UAE, 2014 Table 10-1: Average Monthly Salaries of Various Job Categories in Dubai, UAE, in AED, 2016 Table 12-1: SWOT Analysis of Mexico Remittance and Bill Payments Market Table 13-1: Cost Comparison of Remittance to India from UAE by Company (Per USD 200), February 2017 Table 13-2: Total Cost of Remittance (Per USD 200) through UAE Exchange by Bank Transfer and Cash Transfer, in USD, February 2017 Table 13-3: Total Cost of Remittance (Per USD 200) through Al Fardan Exchange by Bank Transfer and Cash Transfer in USD, February 2017 Table 13-4: Al Ansari Exchange Charges for Bank Transfer, in AED, 2016 Table 13-5: GCC Exchange Charges for Bank Transfer per Transaction, in AED, 2016 Table 14-1: Analyst Recommendations for UAE Remittance and Bill Payments Market Table 15-1: Rationale for Number of Bank Branches in UAE, 2011 - 2021 Table 15-2: Rationale for Population in UAE, 2011 - 2021 Table 15-3: Rationale for Consumer Expenditure in UAE, 2011 - 2021 Table 15-4: Rationale for Number of Debit and Credit Cards Issued in UAE, 2011 - 2021 Table 16-1: Correlation Matrix of UAE Remittance and Bill Payments Market Table 16-2: Regression Coefficients Output for UAE Remittance and Bill Payments Market
  • 8. 8 © Licensed product of Ken Research; should not be copied UAE Remittance and Bill Payments Market HOW UAE REMITTANCE AND BILL PAYMENTS MARKET IS POSITIONED IN UAE? UAE is well-known as a leading cosmopolitan hub in the world with wide range of job opportunities, due to which it has been a major attraction for job seekers in other South Asian countries. Population of the country majorly constitute of expatriates. Over the past decade UAE has experienced a robust economic growth owing to a strong labor force, composed mainly of expatriates. The expatriates in the country are the major contributors to the international remittance market in the country. On the grounds of this, the market has recorded an amplified growth in the overall revenue from USD ~ Billion in 2011 to USD ~ Billion in 2016. International remittance market is dominated by the workers remittance outflow over the inflows. Though, UAE is known for its international remittances, the domestic remittances are also huge in the country. It is dominated by the business to business remittances over personal remittances owing to the rising business activities. Though there had been a decline in the growth rate during 2014-2015 due to the falling oil prices, the domestic remittance market have picked up soon due to rising business activities in the non-oil private sectors. The personal remittances are also rising year on year owing to the internal migration. Like all developing nations, UAE also comprise of both developed and non-developed emirates, which raises the rate of internal migration from non-developed emirate to developed emirate in search of better job and living opportunities. During the review period 2011-2016, the bill payments market has also displayed a tremendous growth owing to the increased consumption of electricity, water, mobile phones, internet and others. As to reduce the rate of consumption, the government had increased the prices of electricity and water in the emirates like Abu Dhabi and Dubai from 2015, augmenting the bill payments market. Publication Price: Single User: USD 1,800 Hard Copy: USD 2,600 Enterprise wide: USD 3,600 Pages: 137 Related Reports India Bills Payment Market Outlook to 2020 - Rising Internet Penetration and Advent of Mobile Wallet to Shape Future Growth Philippines Domestic and International Money Transfer Industry Outlook to 2019 - Driven by Mobile Money and Increase in OFWs Philippines Pawnshop Market Outlook to 2020 - Convenience with Pawning and Remittance Services to Stimulate Growth 2011 2012 2013 2014 2015 2016 Figure: UAE Remittance and Bill Payments Market Size in Terms of Transaction Volume in USD Billion, 2011-2016
  • 9. WHICH CHANNEL OF REMITTANCE IS PREFFERED THE MOST? UAE international and domestic remittance market prefers different remittance channels. International remittance market is dominated by the exchange houses over banks. It accounted for a share of ~% in terms of workers remittance outflow in 2016. Major factor leading to the dominance of exchange houses in the country is the high rate of unbanked population. International remittance is led by the expatriate population and the expatriates have bank accounts in their home countries. They do not prefer to open bank accounts in UAE since there are not much investment opportunities available for expatriates in UAE. Exchange houses in the country provide various offers and discounts to their customers. They offer cash pick up service to their customers, which enable them to conveniently transfer their money. The exchange houses use foreign exchange retailers such as Western Union, InstaCash, Xpress Money and others to ensure a quicker and faster transfer of funds from one country to another. Such foreign exchange retailers provide the facility of last minute cancellation with guaranteed refund including the transfer fee. Banks hold a meager share of ~% in international remittance market. Though there is more number of banks than exchange houses in the country, majority of them are national banks. The national banks of UAE follow the Islamic law. The Islamic law does not have the concept of interest on deposits or loan. Hence, the expatriates do not prefer having a bank account in UAE. For remittances through bank one should have a bank account. Domestic remittance market can be classified into business to business and personal remittances. Banks dominate the domestic remittance market with a share of ~% in the terms of transaction volume followed by the non-banks. Banks represent the safest channel for business to business transfers as huge amount of money is involved in it. Moreover, banks provide current account facilities to the business concerns and also they are provided with additional services like personalized agents and cash pick up service. In the event of some urgent transaction requirement, the personalized agents of the bank for the company will visit the company and pick up cash and drop at the door step of the desired recipient in person. Personal remittances are also carried out through banks but at a lesser rate as the bank does not provide any benefits to the personal remittance customers. Non-Bank channel represents the local transfer agents who facilitate fund transfers within the country. During 2016, the non-bank channel held a share of ~% in the overall market. Personal remittances are majorly carried out through the non-banking channels by the citizens of the country. The country has a high rate of unbanked population. Non-banking channels offer their services 24/7 and 365 days and are easily accessible. This makes this channel convenient for personal remittances. 9 © Licensed product of Ken Research; should not be copied UAE Remittance and Bill Payments Market Table: UAE Remittance Market Segmentation by Channel of Remittance on the Basis of Transaction Volume and Workers remittance Outflow in Percentage (%), 2016 Segments Percentage (%) Exchange Houses ~ Banks ~ Non-Banks ~
  • 10. 10 © Licensed product of Ken Research; should not be copied UAE Remittance and Bill Payments Market WHICH TYPE OF SERVICE IS USED THE MOST FOR REMITTANCE IN UAE? WHICH TYPE OF BILL DOMINATES THE BILL PAYMENTS MARKET IN UAE? TheremittancemarketinUAEincludingbothinternational and domestic remittance market is dominated by direct credit to account and online services. It holds a share of ~% in the overall market. This service is convenient for the customers as they need not visit the branches for the making a transfer. Except for some GCC countries, the remittance to all other countries is made using direct credit to account and online service. This service includes less cost in comparison with other type of services and it does not include the effort of visiting the branches in person from both sending and receiving end. It is followed by the cash pick up service that accounts for a share of ~% in the market. Cash pick up service is offered by both banks and exchange houses and is beneficial for the customers in rural areas in the recipient country. A drawback of the cash pick up service is that it is a time consuming process, as the sender has to approach the bank or exchange house in person and remit the amount at the counter. Risk of loss and theft are associated with the cash pick up facility. Prepaid cards come last in type of service used. It is beneficial for frequent travelers. They can reduce the inconvenience of carrying cash. It enables the withdrawal of money from any country in that country’s currency. Utility bills are the major contributors to the bill payments market. The market is dominated by electricity bills that held a share of ~% in 2016. Electricity is the most used utility in the country. Power consumption in the country is rising due to the increasing population and the rising business avenues. The home and business power consumption is rising year on year which is a burden for UAE in the energy sector. This has necessitated the launch of awareness campaigns aimed at promoting a culture of rational consumption of energy in all segments of society. Mobile bills are holding the second position in terms of bill payments with a share of 26.3% in the overall bill payments market in 2016. It is followed by water bills that held a share of ~% in 2016. UAE water consumption was considered as the highest in the world as per 2013 reports. From January 1 2015, new water tariffs were applied in Abu Dhabi, including water charges for Emiratis for the first time. Residential water consumption represents 60.7% of the overall water consumption in the country followed by industrial, commercial and other non-commercial sectors. Alongside the rising internet penetration, the number of broadband connections is also increasing. DTH services are the least contributors to the bill payments market with a share of ~%.Table: UAE Remittance Market Segmentation by Type of Service on the Basis of Transaction Volume and Workers remittance Outflow in Percentage (%), 2016 Segments Percentage (%) Direct Credit to Account and Online ~ Cash Pick Up Service ~ Prepaid Cards ~ Table: UAE Bill Payments Market Segmentation by Type of Bills on the Basis of Amount of Bill Payments in Percentage (%), 2016 Segments Percentage (%) Electricity ~ Mobile ~ Water ~ Broadband ~ DTH ~
  • 11. 11 © Licensed product of Ken Research; should not be copied UAE Remittance and Bill Payments Market HOW THE COMPETITION IS PREVAILING IN UAE REMITTANCE MARKET WHAT IS THE FUTURE OUTLOOK FOR UAE REMITTANCE AND BILL PAYMENTS MARKET International remittance market is a highly competitive market. In UAE international remittances are carried out through exchange houses and banks. Exchange houses have the major share in the transfer. There are more than ~ licensed exchange houses with more than ~ branches in the country. There are three major exchange houses that hold more than ~% share in the market. These exchange houses are competing on the basis of number of transactions, volume of transaction, number of branches, services offered and others. In the recent times exchange houses are facing increased competition from banks. Domestic remittance market is dominated by banks. The number of banks is increasing every year in the country intensifying the competition. The banks are in a continuous process of improving their services for their business customers. Banks are competing on the basis of the volume of transaction, number of companies with which they have tie up, the services offered and other related factors. There are more than ~ banks with more than 1000 branches in the country. Banks have a very nominal share of personal remittances hence it is dominated by the non-banking transfer agents who provide services 24/7 to their customers. UAE international remittance market is expected to display a remarkable growth in the next five years. The amplification of growth will be on the grounds of rising number of expatriates owing to the employment opportunities developed from the infrastructure developmental activities linked to the World Expo 2020 in Dubai, expansion of airports, the Etihad rail, air and marine transport systems and road networks in the country. The domestic remittance market and bill payments market are also anticipated to display a staggering growth during the forecast period, 2017-2021 at a CAGR of ~%. Rising number of expatriates, internal migration, growing non-oil private sector businesses, rising utility prices and other related factors are set to augment growth in the market during the forecast period. Table: Market Share of Major Players in the International Remittance Market in % Companies Price Range in PHP UAE Exchange ~ Al Ansari Exchange ~ Al Fardan Exchange ~ Others ~ USDBillion Figure: UAE Remittance and Bill Payments Market Future Projections on the Basis of Transaction Volume in USD Million, 2017-2021 2017 2018 2019 2020 2021
  • 12. 12 © Licensed product of Ken Research; should not be copied UAE Remittance and Bill Payments Market Companies Covered in the Report List of Companies Major Players in UAE Remittance and Bill Payments Market • UAE Exchange • Al Ansari Exchange • Al Fardan Exchange • Sharaf Exchange • GCC Exchange • Trriple • PayFort Parameters Description Company Overview • USP • Business Strategy • Statistics • Workers Remittance Outflow, 2016 • Services • Number of branches, 2016 • Transaction Fees • Employees • Recent Developments • Mode of Transfer • Future Strategies • COMPANIES CITED IN THE REPORT COMPETITIVE LANDSCAPE COVERED IN THE REPORT KEY FACTORS CONSIDERED IN THE REPORT • Comprehensive analysis of UAE Remittance and Bill Payments Market and its segments • Listed major players and their positioning in the market • Identified major industry trends in last few years and assessed the future growth of the industry • SWOT analysis on UAE Remittance and Bill Payments Market • Value chain analysis of UAE Remittance and Bill Payments Market
  • 13. DISCLAIMER The research reports provided by Ken Research are for the personal information of the authorized recipient and is not for public distribution and should not be reproduced or redistributed without prior permission. None of this material may be used for any commercial or public use until unless authorized by Ken Research. The report will only be used as per the license rights authorized by Ken Research. The information provided in the research documents is from publicly available data and other sources, which are reliable. Efforts are made to try and ensure accuracy of data. With respect to documents available, neither the company nor any of its employees makes any warranty, express or implied, including the warranties of merchantability and fitness for a particular purpose, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use will not infringe privately owned rights. The report also includes analysis and views expressed by our research team. The research reports are purely for information purposes. The opinions expressed are our current opinions as of the date appearing in the material and may be subject to change from time to time without notice. Investors should not solely rely on the information contained in the research documents and must make investment decisions based on their own investment objectives, risk profile and financial position. The recipients of this material should take their own professional advice before acting on this information. Ken Research will not accept return of reports once dispatched due to the confidentiality of information provided in our reports. In case, a report qualify for return, we will issue a credit, minus shipping charges, of equal value to the original purchase price, toward a future purchase—no refunds. The decision about whether the product return can be accepted or not is solely at our discretion. Any dispute will be subject to laws of India and exclusive jurisdiction of Indian Courts No part of this manual or any material appearing may be reproduced, stored in or transmitted on any other Web site without written permission of Ken Research and any payments of a specified fee. Requests to republish any material may be sent to us. © Licensed product of Ken Research; should not be copied 13
  • 14. © Ken Research Private Limited, 2017. All rights reserved. For information or permission to reprint, please contact Ken Research at: Email: query@kenresearch.com Mail: Ken Research Private Limited 27A, Ground Floor, Spaze I Techpark, Sector 49, Sohna Road Gurgaon – 122001,India To find latest content or related reports on the sector, please register at www.kenresearch. com Follow Ken Research on Linkedin, Facebook and Twitter CONTACT US © Licensed product of Ken Research; should not be copied 14