Latest news with #Dh26
India Gazette
30-06-2025
- Business
- India Gazette
India not affected by the new fee for DirectRemit to key countries by Emirates NBD
ANI 30 Jun 2025, 13:16 GMT+10 New Delhi [India], June 30 (ANI): Emirates NBD has clarified that its DirectRemit service will continue to offer free international transfers to major remittance destinations such as India, Pakistan, Egypt, and the Philippines, as reported by the Gulf News. Emirates NBD Bank PJSC is Dubai's government-owned bank and is one of the largest banking groups in the Middle East in terms of assets. The company has its operations in the UAE, Egypt, India, Turkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and clarification comes after confusions were caused by a prior bank notice suggesting that all international transfers, including those via DirectRemit, would be charged a Dh26.25 fee starting September 1, response to concerns and media reports, the bank said in a statement that, 'To clarify: Emirates NBD will not be charging Dh26 for remittances to key corridors such as India, Pakistan, Egypt, and the Philippines. These corridors will remain free of charge for our customers. The Dh26 fee applies only to non-core corridors, in line with Central Bank regulations.'The Dh26.25 fee (including VAT) applies only to countries not listed in ENBD's main zero-fee remittance list. This fee applies when transfers are made via the bank's online, mobile, or ENBD X platforms.'International wire transfers through UAE banks often carry fees ranging from Dh20 to Dh60, depending on the destination and platform used. However, Emirates NBD's DirectRemit service to selected countries has long been promoted as a zero-fee offering, and that remains unchanged for the major corridors mentioned,' the Gulf News reported. Customers are advised to review the list of eligible corridors in their ENBD app or platform to confirm whether their intended destination qualifies for zero-fee transfers. (ANI)
Time of India
29-06-2025
- Business
- Time of India
Good news for expats: No Dh26.25 fee for sending money to India, UK, 4 other countries, Emirates NBD clarifies
Emirates NBD confirmed that its DirectRemit transfers to India, UK, Philippines, Pakistan, Egypt, and Sri Lanka will remain free of charge despite the upcoming Dh26.25 fee for other countries/ (Image composite: Emirates NBD) Emirates NBD has addressed recent customer concerns regarding international money transfer fees, assuring that its popular DirectRemit service will continue to offer free transfers to six major remittance destinations, including India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK. Fee Clarification and Affected Corridors Following an email notification sent to customers on Friday, which stated that from September 1, 2025, a transfer fee of Dh26.25 (inclusive of VAT) would apply to all international transfers via the bank's digital platforms, many customers expressed worry about the end of zero-fee remittances. In a clarification statement sent in response to media reports, the bank said: 'To clarify: Emirates NBD will not be charging Dh26 for remittances to key corridors such as India, Pakistan, Egypt, and the Philippines. These corridors will remain free of charge for our customers. The Dh26 fee applies only to non-core corridors, in line with Central Bank regulations.' Further emphasizing the commitment to its customers, the spokesperson said: 'Emirates NBD remains committed to offering seamless and cost-effective banking solutions for our valued customers. As part of this commitment, Emirates NBD DirectRemit Transfers to India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK will continue to be offered free of charge to all Emirates NBD customers.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy the Dip: Top 5 Dividend Stocks with Growth Potential Seeking Alpha Read Now Undo Details of the New Transfer Fees and Service Expansion The Dh26.25 fee will only apply to international transfers sent to countries outside the bank's designated zero-fee corridors, and only when transfers are initiated via online, mobile banking, or the ENBD X digital channels. Transfers within the six core countries will continue to have no charge, provided the transfer amount meets the minimum threshold of Dh100. The bank is also expanding its DirectRemit service to over 30 additional countries, allowing customers to benefit from near real-time transfers. The spokesperson added: 'Customers will no longer be charged any correspondent bank fees and will just be charged a nominal transfer fee of up to Dh26.25 (inclusive of VAT). All other international transfers will also incur a nominal fee of up to Dh26.25. These charges will be effective from September 1, 2025.' Additionally, Emirates NBD's Private Banking, Priority Banking, and Personal Banking Beyond customers will continue to enjoy free DirectRemit and international transfers as usual. How DirectRemit Works and Alternative Options DirectRemit is a digital money transfer service enabling Emirates NBD customers to send money quickly, within 60 seconds, to India, the Philippines, Pakistan, Sri Lanka, Egypt, and the UK. This ease and speed have made it a preferred choice for many expatriates in the UAE. O utside of Emirates NBD, there are other apps such as Botim, Careem Pay, e& money, and Taptap Send, which offer free or minimal fees for money transfers from the UAE. Some of these apps require no registration fees, no minimum balance, and no bank account—only an active UAE mobile number, a debit or credit card, or online banking access. These apps not only facilitate global and local money transfers but also support bill payments, merchant payments, and transfers directly to mobile wallets. UAE's Significant Role in Global Remittances The UAE ranks as the third-largest sender of remittances worldwide, after the US and Saudi Arabia. Last year, Indian expatriates sent $21.6 billion to India from the UAE, representing 19.2% of the country's total dollar inflows, making the UAE the second-largest source of global remittance to India after the US. Filipino workers in the UAE remitted approximately $1.52 billion in 2024, contributing to the Philippines' record $38.34 billion in total overseas remittances for that year, as reported by Statista and the Bangko Sentral ng Pilipinas (Philippine Central Bank). Major sources of these remittances include the US, Saudi Arabia, Singapore, and the UAE. What Customers Should Do Next Emirates NBD is preparing to send electronic direct mails (EDMs) to customers affected by the fee changes and plans to release a formal press statement to further clarify the details. Customers are encouraged to check the list of eligible zero-fee corridors on their Emirates NBD app or online platform before initiating transfers to confirm whether their intended destination qualifies for free remittance.
Filipino Times
29-06-2025
- Business
- Filipino Times
Emirates NBD clarifies: Money transfer to Philippines remains free
Emirates NBD has assured customers that money transfers to the Philippines remain free of charge, following recent announcements about a new fee imposed on international remittances. In a statement sent to the media, the bank clarified that the AED 26.25 charge only applies to select non-core countries, and does not affect key remittance corridors, including the Philippines. 'To clarify: Emirates NBD will not be charging Dh26 for remittances to key corridors such as India, Pakistan, Egypt, and the Philippines. These corridors will remain free of charge for our customers. The Dh26 fee applies only to non-core corridors, in line with Central Bank regulations,' the bank stated. This comes after customers reportedly received notifications about the update, which included transactions made through DirectRemit, used to send money to the Philippines. To further assure its customers, the bank reiterated its stance in a recent post: 'With DirectRemit, you can transfer money to India, Pakistan, Philippines, UK, Egypt and Sri Lanka using Online or Mobile Banking in 60 seconds for free, 24/7.'
Al Etihad
02-06-2025
- Business
- Al Etihad
Aldar launches Dh40bn Fahid Island project, bringing wellness-focused living to Abu Dhabi
2 June 2025 16:37 ISIDORA CIRIC (ABU DHABI)Abu Dhabi's property market is set for another major addition with Aldar's launch of Fahid Island, a Dh40 billion coastal destination positioned between Yas Island and Saadiyat. The 2.7 million square metre development is being pitched as a wellness-first community where no home is more than five minutes from the sea, and no more than 250 metres from green island will offer more than 6,000 homes, from apartments and townhouses to high-end waterfront villas with 4- to 6-bedroom one, Fahid Beach Residences, will feature seven low-rise buildings with 65 apartments each, and is scheduled for completion by 2029. It also includes community amenities and a top-tier international school, with more details on the education partner to be announced soon, Aldar said on rest of the project will be delivered in phases over the following three acquired the land in early 2023 for Dh2.5 billion, initially estimating a development value of Dh26 billion. That figure has since climbed to over Dh40 billion, as plans for the site expanded to include extensive natural landscapes, international school facilities, and a new residential benchmark for the the start, Aldar has framed Fahid Island as a 'complete ecosystem'. With 4.6km of beachfront on one side and mangroves on the other, all homes will be no more than a five-minute walk from the sea and within 250 metres of open green space. The layout includes 15km of shaded pedestrian walkways and multiple bridges connecting both sides of the island, designed to limit car use and promote walkability. A 10km landscaped Berm Park will act as a green wellness corridor, complete with cycling routes and running trails.'Abu Dhabi is a thriving, global destination where heritage and innovation combine to create a world-class environment to live, work, and explore. Sustainable and inclusive development has been a critical part of this success, which is why Aldar remains focused on delivering communities that reflect the values and ambitions of the UAE,' said Mohamed Al Mubarak, Chairman of and liveability are central to the design. Around 30% of the island's space will be dedicated to natural landscapes, and Aldar is actively working with the Environment Agency - Abu Dhabi to protect marine life along the island's mangrove edges.'Our plans for Fahid Island support a thriving real estate market in Abu Dhabi, where we are seeing incredible demand from buyers within the local market as well as overseas investors,' said Talal Al Dhiyebi, Group Chief Executive Officer of Island's location, wedged between two of Abu Dhabi's highest-profile developments, positions it at the crossroads of culture, tourism, and investment. A recent MPM Properties report showed strong interest in prime waterfront communities, with prices in areas like Saadiyat jumping by up to 15% in 2024.'Fahid Island is one of the largest mixed-use residential masterplans launched in Abu Dhabi and will ensure the emirate consolidates its position as one of the world's most desirable destinations to reside, invest, and visit,' Al Dhiyebi added. Its unveiling comes shortly after plans for a Disney theme park on Yas Island were announced, adding momentum to rising demand in the capital's real estate market.
Al Etihad
25-03-2025
- Business
- Al Etihad
Abu Dhabi's residential property market poised for sustained growth in 2025
26 Mar 2025 01:58 ABU DHABI (ALETIHAD) Demand for residential property is on the rise in Abu Dhabi, where 38,700 new units are set to come to market by 2028, says leading real estate advisory and property consultant, Cavendish a strong performance in 2024, with 9,700 sales transactions worth a total Dh26 billion, the residential real estate sector in the UAE capital is poised for further growth this year and beyond, fuelled by increased demand and strategic government initiatives, according to Cavendish Maxwell's latest Abu Dhabi Residential Market Performance Report. Some 10,800 new units are due to be delivered this year, with another 6,000 in 2026. By the end of 2028, Abu Dhabi's total residential inventory will be around 313,700, the research shows. 5,200 new homes were delivered in 2024 – mostly at Al Raha Berach, Yas Island, Masdar City and Saadiyat Island – with 275,000 units in total at year end. Andrew Laver, Cavendish Maxwell Associate Partner, Abu Dhabi, said: "The residential sector in Abu Dhabi is experiencing steady growth, driven by increased demand from local and international investors as well as strategic government initiatives such as residency incentives." Average sales prices for apartments rose by nearly 11.5% in 2024, with villa prices up by over 12.5%. Yas Island commanded the biggest rises at more than 20% for apartments and 13% for villas. In the rentals market, rates were an average of nearly 13% for apartments and 8% for villas, with Yas Island seeing the highest rises, at 16% and 10% for ready properties surged by almost 50% year-on-year in 2024, while off-plan transactions saw a decline of 13%, largely due to a reduction in new project launches. Of the 9,700 sales transactions last year, 75% were for apartments – up 63% on the previous year. Apartment sales transactions reached 7,300 with a total value of Dh12.6 billion. A total of 2,400 villas and townhouse, with a combined value of Dh13.4 billion, were purchased in 2024 – a drop of 44% in volume and value, driven by limited new projects launches. However, demand for ready villas and townhouses was up 47% and 26% respectively, reflecting growing confidence among investors and end-users in the completed property market. Abu Dhabi saw a 34% increase in mortgage transactions in 2024, with nearly 5,000 mortgages, worth a total Dh7.1 billion secured. Loans for apartments dominated the mortgage market, up 66% in volume and 55% in value on the previous year. Falling interest rates, increasing investor confidence and attractive financing options from banks fuelled mortgage demand last year, says Cavendish Maxwell. Almost 40 residential projects were launched in Abu Dhabi last year, bringing 11,000 new units to the market. Al Reem island saw the highest number of new units (2,000), followed by Saadiyat Island (1,800) and Al Bahyah (1,700). Aldar Properties dominated the market, launching around 4,000 units across 12 projects, reinforcing its position as a leading player in the capital's real estate sector.
