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Myanmar moves to channel migrant remittances through official banking systems

YANGON: Myanmar's Ministry of Labour is prioritising the establishment of a formal system to channel remittances from overseas workers directly through the Central Bank of Myanmar and authorised financial institutions.

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缅甸着手将移民汇款纳入官方银行系统

FILE PHOTO: A group of Myanmar migrant workers cross the border between Thailand and Myanmar near the Thai port city of Ranong July 3, 2017. - Reuters

YANGON: Myanmar’s Ministry of Labour is prioritising the establishment of a formal system to channel remittances from overseas workers directly through the Central Bank of Myanmar and authorised financial institutions.

During an inter-ministerial coordination meeting on October 30 in Naypyitaw, Union Minister Maung Myint stressed the need to route overseas earnings through official banking channels.

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