Indian diaspora withdraws $2 bn from banks amid West Asia turmoil

The Indian diaspora in West Asia has withdrawn approximately $2 billion from bank accounts in the region, according to financial data. The withdrawals come amid escalating tensions and turmoil in several West Asian countries.

Banking sources indicate that the funds were moved primarily to accounts in India and other safe-haven destinations. The trend reflects growing concern among expatriates about the security of their assets in the volatile region.

The withdrawals have been concentrated in countries such as Saudi Arabia, the United Arab Emirates, and Qatar, where large Indian communities reside. Remittance flows to India have also seen a corresponding increase during this period.

Analysts note that such capital outflows could strain local banking systems in the affected countries. The Indian government has not issued an official statement on the matter, but diplomatic channels remain active to ensure the safety of Indian nationals.