New statistics from WorldRemit, a global payments company, have revealed the generosity of Muslims living abroad during Ramadan shows a spike in money sent to communities and loved ones in Muslim majority countries like Pakistan (96% Muslim population) and Bangladesh (91% Muslim population) during the fasting month, reflecting the spirit of charity, Zakat and Sadaqah.
Credit: WorldRemit
In 2022, people around the world sent 15% more money to loved ones in Pakistan during Ramadan compared to the month before, and 41% more compared to the month following.
In the same year, people around the world sent 30% more money to loved ones in Bangladesh during Ramadan compared to the month before, and 101% more compared to the month after.
However, the data also shows that remittances during Ramadan have been impacted by ongoing global inflation and the increasing cost of living, as well as market and dollar depreciation, COVID-19 recovery, and other economic issues.
In 2021, the average total amount sent to Pakistan and Bangladesh globally was 80% more than in 2020. However, as cost of living and inflation increased in 2022, the amount sent in total declined year-on-year.
Credit: WorldRemit
Giving back to your community this Ramadan
During the month of Ramadan (Thu 23 March to Thu 20 April), for every money transfer sent to Pakistan via WorldRemit, the company will donate an iftar meal to someone in need.
The global payments company has partnered with Pakistan’s Edhi Welfare Organization to deliver these meals to countries impacted by soaring inflation.
Credit: WorldRemit
Ruzan Ahamed, South Asia Regional Director, WorldRemit said that Ramadan is a special time of year for many of the company’s customers.
“Every year, WorldRemit helps Muslims around the world send money back home to help their loved ones prepare for Ramadan and Eid celebrations, and to support those in need,” he said.
In 2023, WorldRemit has pledged to donate 20,000 meals to Pakistan so that even more people can enjoy Ramadan.
“We recognise that current economic hardships mean celebrations may take a different form this year. That is why we wanted to make sure that every customer sending money to Pakistan this month is able to make an even bigger impact,” said Mr Ahamed .
2023 is the third year WorldRemit has partnered with the Edhi foundation during Ramadan.
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