Originally Posted by
Desdihold
The funds are held in USD but you can nominate which currency you want the payout to be at that days exchange rate ( this related to a transfer directly to your bank account)
As as example, if you want to be paid in euros then you will have the equivalent of your USD account transferred in euros.
As always confirm the above, the folks at mondal are helpful in such matters.
So I wonder what method gives you the better exchange rate- the direct transfer where I am assuming the offshore bank that holds the Provident fund investments decides the exchange rate or getting the money encashed into UAE dhs then transferred at Al Rostamani ?
I wonder if anyone has figured that one out- kinda matters when dealing with big amounts.