The Banking Executive Magazine - February 2026 Issue 2

Remittances in Ramadan Remittances in Ramadan INCREASE BY 20 TO 30% ANNUALLY Deputy CEO of an exchange com- pany, Dr Mohammad Amjad Mousa affirmed that Ramadan is an excep- tional season for remittances, with transaction volumes increasing an- nually by 20 to 30 percent compared to other months,. He indicated that this increase is linked to several social and eco- nomic factors, chiefly family remit- tances to cover Ramadan and Eid Al Fitr expenses, the sending of zakat and charitable contributions, and the disbursement of salaries and bonuses before the holiday, leading to a high concentration of transactions over a short period. He also noted that his company launched several initiatives during Ramadan, including offering com- petitive exchange rates for limited periods and running awareness cam- paigns to encourage clients to use digital channels for their speed, con- venience, and security, reflecting digital transformation as a strategic pillar in enhancing operational effi- ciency. Data from the Qatar Central Bank underline the broader signifi- cance of remittances to the national economy. Workers’ remittances rose by 10.8 percent year-on-year in the third quarter of 2025, reaching QR10.768 billion, while total remittances abroad amounted to QR32.4 billion during the first nine months of the year. Ramadan in Qatar is not merely a fi- nancial season. It is a reflection of a diverse society united by shared val- ues, where economic activity be- comes a channel for expressing generosity, social responsibility, and enduring family bonds across bor- ders. ISSUE 206 FEBRUARY 2026 the BANKING EXECUTIVE 25