UAE traffic: Congestion slows commuters headed to Sharjah and Abu Dhabi

Heavy traffic slowed down commuters headed toward Sharjah and Abu Dhabi on Wednesday.

Congestion was reported in Dubai near the Business Bay exit on Sheikh Zayed Road towards Abu Dhabi, and on the Sheikh Mohammed bin Zayed Road toward Sharjah.

In Sharjah, tailbacks caused delays on the E10 towards Abu Dhabi near the Al Shahama exit; on Ittihad Road; near D97 Amman Street; across Sharjah Industrial Areas 11 – 13; near the National Paints Factory area, and on the Maliha Kalba road.

Congestion also caused backlog after the Gold and Diamond Park towards Sharjah, and on Al Khail Road towards Abu Dhabi.

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.