12/01/2021
Migration News Wage Earners Contribution to Rural Development of Bangladesh
To recognize the financial contribution of migrants and labeling
the importance of remittance for migrants’ families, the United
Nations (UN) adopted 16 June as the International Day of
Family Remittances (IDFR) in 2016. Since then, for
recognizing the contribution of migrant workers to their family
and for sustainable development of their countries of origin, it
became an imperative liability for government of recipient
countries to observe and celebrate this universal day.
The expatriate ministry has outlined several actions for
promoting institutional remittance transfer and best use of
remittances in its Expatriate Welfare policy 2016, though there
are some loopholes to address the true needs of migrants and
families. However, execution of some activities in consistence
with Sustainable Development Goals (SDGs), and others
government strategies and engaging relevant remittance
market actors could be a best way to acknowledge these
remittance hero as well as advancement towards developing
state. Hence, in this article, we will discuss on some points and
issues where government, private sectors and NGOs have the
scope to work on.
To ensure financial inclusion for stimulating the uptake of
financial services by migrant workers and their families,
promotion of financial education is an essence. Extensive
education campaign at grassroots level could be a viable
strategic action to reach majority. The campaign entailing
government institutions, local government, school teachers,
representatives from banks, mobile money transfer agents
(bKash, Ucash, Nagod, & Rocket etc.), microfinance institutes,
to execute programs like: Income management training for
migrants at TTC, training on remittance transfer, management
investment principles under Pre-departure Training (PDT) or
orientation, Education on basic savings principles for students
(migrant children), capacity building of local government to
recognizing migrants contribution for community development
etc. are essentials.
Following that the mood of remittance transfer in legal channel
comes on priority basis. Therefore, to make the remittance
transfer service faster accessing innovative digital technology,
it requires to extend the service areas and markets of Banks or
Remittance Service Providers-RSP, mobile money transfer
operators, post offices, and microfinance institutions to cover
maximum number of beneficiaries.
However, for encouraging the use of international money
transfer platforms and reduce informal transactions, it could
announce a day or week to transfer remittances for free.
Besides, mobile money transfer operators, government could
scale up the digital financial transaction services of other
bodies like: microfinance institutes, post offices, merchants of
Remittance Service Providers- RSP etc. through empower
them with suitable tools and information. Regarding this, it
could follow the example of Italian Postal department and its
unit called Banco Posta that provides financial services,
including savings, prepaid cards, exchange brokerage
https://migrationnewsbd.com/news/view/32315/54/Wage-Earners-Contribution-to-Rural-Development-of-Bangladesh
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