REMITTING family remittances by migrant workers working abroad through official channels can help improve the socioeconomic well-being of their families, while also contributing to increased foreign exchange earnings for the country and supporting national development.
Therefore, licensed overseas employment agencies are urged to cooperate with a sense of responsibility and accountability to ensure that workers remit their earnings through official channels, Union Minister for Labour U Khin Maung Soe said during a meeting with managing directors of licensed overseas employment agencies that are sending workers to foreign countries. The meeting took place at the Myawady Media Centre in Yangon yesterday morning.
During the meeting, the Union minister said that, since 2023, agreements have been signed between agencies and workers to ensure that 25 per cent of each worker’s salary, sent as family remittances, is remitted through official channels to their family members in Myanmar. He urged the agencies to cooperate responsibly and conscientiously in ensuring that workers send their family remittances through official channels, and coordinated and addressed the matters raised by the attendees. Moreover, meetings have been held with stateowned banks holding Authorized Dealer (AD) licences.
The Ministry of Labour has been coordinating with the Central Bank of Myanmar to obtain accurate data on remittances sent by workers abroad and to establish an easy and convenient remittance system. He also stated that the Ministry of Labour, the Central Bank of Myanmar, relevant banks and licensed overseas employment agencies must cooperate to successfully implement the Family Remittance Management System (FRMS). The Union minister also coordinated and addressed the matters raised at the meeting.
MNA/KTZH
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