Exchange Offices in Qatar Increase Charges for Overseas Money Transfers

Doha, Qatar: Exchange bureaus throughout Qatar have declared a rise in fees for international money transfers, with an additional QR5 now applied to each transaction.

Formerly set at QR15, the fee for remittances to Asian nations such as India, Bangladesh, Pakistan, the Philippines, and Sri Lanka has been elevated to QR20 per transaction.

This increased charge applies to both in-person visits to branches and online transactions, as verified by an official from a local remittance bureau.

The fee for European destinations typically varies based on the specific products and services offered.

Officials from exchange bureaus have indicated that this adjustment comes after being ratified and sanctioned by representatives of local exchange firms, following approximately 20 years without any fee alterations.

According to a report from Al Sharq, this initiative aims to offset a portion of the considerable expenses incurred by these companies due to the expansion of their services, which cater to the demands of the local market. Additionally, it seeks to empower them to provide customers with high-quality and competitive services.