The Secretary-General of the Union of Arab Banks, Wissam Fattouh, indicated that “the total financial flows of remittances from expatriates to Lebanon amounted to 6.3 billion US dollars during 2020, which represents 11.5% of the total remittances to the entire Arab region.”

“Lebanon ranked first among the Arab countries in terms of ‘per capita’ remittances, which amounted to $923 per person,” he said, adding that “money transfers to Lebanon accounted for 37% of its GDP, according to the parallel market exchange rate.”

“Finally, Lebanon ranks first among the Arab countries in terms of diversity in the sources of expatriate remittances due to the widely-spread Lebanese Diaspora,” Fattouh concluded.