Doha: Exchange houses in Qatar have decided to hike fees for international money transfers. Exchange houses have increased fees for international money transfers by QR5 for each transaction.
The fee for remittances to Asian countries, including India, Bangladesh, Pakistan, Philippines and Sri Lanka, which previously stood at QR15, has now been raised to QR20 per transaction. The increased fee will be levied at both physical branches and for online transactions. Fees for European countries varies as per the products and services.
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The decision to increase fees was reportedly approved by representatives of local exchange companies after nearly two decades without any adjustments. According to officials from these exchange houses, the fee hike aims to offset some of the significant costs incurred by the companies due to the expansion of their services to meet the demands of the local market.
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