Money transfers by Jordanian expats reached $3.4b by November

Money transfers by Jordanians working overseas reached an estimated $3.4 billion by the end of November, Anadolu reported on Sunday. This was almost the same level as last year.

According to the Central Bank of Jordan, 70 per cent of the total transfers came from expatriates working in the Gulf States. The remainder came from the US and Europe.

Such transfers are said to be among the Central Bank’s most important sources of foreign currency, along with revenues from state exports, foreign loans and grants. Earlier in 2017, the bank announced that the crisis between the Gulf States and Qatar was not expected to affect the rate of money transfers to Jordan.

Official statistics show that there are about a million Jordanians who live and work overseas. Around 5.79 per cent of them are in the Gulf States.