Qatar World Bank International Remittance Report | Weekly Funding Limit Remittance Industry in Qatar | Commission rate Banking Partners Qatar: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Why is it important for exchange houses in Qatar to re-assess their current business positioning Exchange houses in Qatar dominate the international remittance industry by facilitating more than 1 million transactions on a monthly basis. As of June 2021, there were 20 exchange houses operating with a total of 141 branches located in different provinces of Qatar. Al Dar for exchange works, established in 2006, operates highest number of ~21 branches across Doha, Ar Rayyan, Al Khor etc. Everything was faring well in the industry before the onset of pandemic of COVID-19 and corresponding restrictions on mobility that deeply affected the money exchange industry. During lockdown restrictions, many expat workers, which contribute ~88% of total Qatari population, returned to their home countries and temporary closure of exchange houses made it difficult to remit money back home. While, customers with sound digital know-how were early to comply with e-KYC requirements and transact via online solutions, it was the blue collar workforce which ended up being the victim of digital divide. Digital is the Future: While the business activity has attained pre-COVID levels for major exchange houses, a noticeable trend has been double digit to multi-fold Growth in Online Transactions of Remittance via digital solutions offered by exchange houses. Leveraging 99% internet penetration rate in Qatar and high time spent on social media engagement, exchange houses are also envisioning to undertake investments in development of digital solutions and extending partnerships with digital players. For instance – partnership of Ooredoo Money with Al Dar Exchange, partnership of Lulu Money with Mastercard in UAE depict the growing focus of incumbents towards digitalization. What can exchange houses do to ride the wave of digitalization? Almost every exchange houses has launched its digital solution (web/mobile application/both), it is now pertinent for the operators to leverage it for smooth customer acquisition, high standards of servicing and connected customer retention. An ideal digital solution focuses on customer satisfaction at each stage and aims to reduce the transaction time by offering a hassle free experience. The below table summarizes the shift in strategic focus of major exchange houses prior to and post COVID-19 on select parameters: While, the transformation to digital solutions might put pressure on bottom-line figures in initial years; the improvement in unit-economics, expected life-time value and benefits completely outweigh the costs attached to it. Moreover, to compete with global MTOs (Western Union, Xpress Money, Wise, and Moneygram etc.), regional players (Xare, STC Pay, Denarii) and domestic start-ups (C-Wallet), it is pertinent for incumbents to re-assess their current positioning and retain customers by offering advanced solutions. Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NDg0NzMy Key Topics Covered in the Report Overview of International Remittance Industry in Qatar (Statistics on Corridor wise Transaction volume and value) Industry segmentation (By Type of Transfers, Type of Intermediary Operators, Corridor wise, Type of Source Entities) Cross Comparison of Major Exchange houses on Operational and Financial Parameters (December 2020, June 2021) Company Profile of Major Exchange Houses (Overview, Products and Services, USP, Business Strategies, Branch wise Operational Performance, Cumulative Financial Performance, Recent Developments) Growth Drivers and Challenges to Qatar International Remittance Industry Industry trends and developments Rules and Regulations by Government Bodies Impact of COVID-19 and Future Outlook of Industry For More Information, refer to below link:- Qatar Central Bank AML Guidelines | Commission rate Banking Partners Qatar Related Reports Russia Remittance and Bill Payments Market Outlook to 2023 (Second Edition)- By Domestic Remittance Banking & Non -Banking Channels; International Remittance Flow Corridors and Channel; and Bill Payment Segment Singapore International Remittance Market Outlook to 2023 – By Inbound & Outbound Remittance, By Banking and Non-Banking Channel, By Inflow & Outflow Remittance Corridors Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications support@kenresearch.com +91-9015378249 Post Views: 2 Tags: Average remittance Transaction Size in Qatar, Best Exchange Rates for Transfer in Qatar, Cash Pickup Remittance Qatar, Challenges in Remittance Industry in Qatar, Commission rate Banking Partners Qatar, COVID Impact on Remittance Industry Qatar, Covid-19 Impact on International Remittance Market Qatar, Direct Account Transfer Remittance Qatar, Future of Money Transfer in Qatar, Inbound Remittance Industry in Qatar, International Remittance Industry in Qatar, International Remittance Market in Qatar, International Remittance Market Size in Qatar, Market share of Banks in Remittance Qatar, Market share of Exchange Houses Qatar, Middle East Remittance Market, Migrant Population in Qatar, Outbound Remittance Industry in Qatar, Qatar Enjaz International Transfer fees, Qatar Ersal Money Transfer Rate, Qatar EZ Transfer Remittance Fees, Qatar Fawri Money Remittance Fees, Qatar International Remittance Industry, Qatar International Remittance Industry Research Report, Qatar International Remittance Market, Qatar International Remittance Market Growth Rate, Qatar International Remittance Market Research Report, Qatar International Remittance Market Revenue, Qatar International Remittance Market Share, Qatar International Remittance Market Size, Qatar Margins in Remittance Industry, Qatar Remittance Digital Solutions Providers, Qatar Remittance Industry, Qatar Remittance Market, Qatar World Bank International Remittance Report on Qatar, Quick Pay Remittance Fees in Qatar, Remittance Industry in Qatar, Remittance Licensing Fees in Qatar, Research Report Of International Remittance, Statistics of Remittance in Qatar, Tahweel Al Rajhi Remittance Fees Qatar, Telemoney Remittance Fees in Qatar, Weekly Funding Limit Remittance Industry in Qatar, إيرادات سوق قطر للتحويلات الدولية, الحصة السوقية لقطر للتحويلات الدولية, تقرير أبحاث صناعة الحوالات الدولية في قطر, حجم سوق التحويلات المالية الدولية في قطر, سوق التحويلات الدولية في قطر, سوق التحويلات في قطر, سوق قطر للتحويلات الدولية