MT News
According to the statistics of the Central Bank of Myanmar, Myanmar nationals in other countries sent back US$-6,152.044 million during the nine-year period from 2014 to July, 2022, Union Minister for Labour Dr Pwint Hsan said.
As the remittances sent home by migrant workers play an important role in development of the country and foreign exchange earnings, the Ministry of Labour held a work coordination meeting to lay down and implement rules and regulations relating to remittance at the ministry on 5 September.
Under the rules and regulations issued by the ministry before and after 2014 for application of licenses of overseas employment agencies and rules adopted by the Federation of Overseas Employment Agencies, agencies are required to offer assistance to workers they sent abroad to remit their wages back to their families through official means. Measures are being taken to enforce the rules and regulations.
The CBM has also issued rules and regulations for foreign remittance to promote official remittance services. Therefore, Myanmar migrant workers in Thailand can send their wages through licensed remittance services of Shwe Bank, Kanbawza Bank, United Amara Bank, Myanmar Citizens Bank and Myanmar Mobile Financial Services Company Limited, said Deputy Minister for Labour U Win Shein.
The remittance sent home by Myanmar migrant workers from Malaysia, Thailand, Singapore and other countries from January to the end of July in 2022 amounted to over US$-264 million, according to the central bank of Myanmar.
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