Outgoing remittances through exchange houses in Qatar moderated during 2023 after increasing for two years, the Qatar Central Bank (QCB) has said in a report.The decline was recorded by all major regional destinations, except developed western nations in Europe and US and Canada.The share of funds to Asia continued to dominate and accounted for more than three-fourth of total remittances.Similarly, share of remittances to the top five countries also continued to moderate and declined from 72.8% to 70.4%. The share of Europe/US/Canada and Mena (excluding GCC) was 9% each, the QCB said in its latest Financial Stability Review.During 2023, the exchange houses in the country lowered their dues from banks which contributed to modest decline in their assets after a sharp rise in the previous year.Total assets as at end of 2023 stood at QR2.4bn. On the liabilities side, dues to banks and dues to money exchangers and branches declined sharply.Paid up capital continued to rise during 2023 leading to continued rise in shareholder’s equity.Exchange houses have been maintaining high level of liquid assets as compared to their liquid liabilities, the QCB noted.“There was some moderation in share of net liquid assets (liquid assets–liquid liabilities) in 2022 but it rose substantially in 2023. Such high level of liquidity indicates both resilience of exchange houses as well as their capability to expand their activities further,” the QCB said.Assets with exchange houses, after rising sharply in 2022, moderated in the year under review mainly due to reduction in dues from banks. Shareholder’s equity increased by 2.5% on top of 12.7% growth in the previous year.This increase coupled with decline in assets in 2023 led to increase in the ratio of shareholder’s equity to total assets. This improved capitalisation was achieved through higher share of paid-up capital.Sale and purchase of foreign currencies is steadily increasing over the past three years. In 2022 and 2023, purchases of foreign currencies exceeded the sales indicating some repayment of past dues and build-up of reserves with them, the QCB noted.