Originally Posted by
BANANASBANANAS
Good question and I don't know the answer.
In my naivety, I thought that as the Prov Fund was denominated in $ and I had arranged a $ account to accept the funds then the $ value of the Prov Fund at closure would be transferred in full, in $, to my offshore $ account without ever passing through a AED account.
Or is that too sensible?
That is my assumption too for the direct transfer as the funds are held offshore in USD and would be transferred directly to your USD acct overseas- I can't see any reason why they would need to transit the funds via UAE. Only if you took your final cheque here for the provident fund and deposited in a local bank would this be an issue surely? But ha ha sensibility is not a prevalent theme with this company.