Latest News and Information

  • Indonesia: A More Transparent and Efficient Remittance System Helps Migrant Workers and their Families

    22 September 2016

    Many migrant worker families in Indonesia are reliant on remittances for their income.     Unfamiliar with banks and international money transfers, they turn to intermediaries to get their money home, which often leads to partial or total money loss.     The Greenback 2.0 project in Lombok T... Read more ›

  • ‘Derisking’ seen behind drop in OFW remittances

    22 September 2016

    MANILA: The apex bank of the Philippines has blamed the derisking strategy of foreign banks behind a decline in remittances by overseas Filipinos. “We are seeing the continuing narrative of derisking, upsetting the otherwise normal flow of remittances,” Manila Times quoted Bangko Sentral ng Pil... Read more ›

  • Banks offer money transfer promos

    04 February 2016

    Commercial banks have put on many promotional programmes for their money transfer services leading up to Tet (Lunar New Year) holiday. According to online newspaper VnExpress, incoming remittances normally grow prior to the traditional Tet holiday, so many banks including DongA Bank, Vietcombank, V... Read more ›

  • PM Narendra Modi Seeks G20 Deadline to Lower Cost of Remittances

    17 November 2015

    Prime Minister Narendra Modi today sought a definite timeline before 2030 for reduction in cost of transferring money, a move that will help India as it is the world's largest recipient of remittances. "Remittances are a key source of income for households and support for the economy in developing ... Read more ›

  • BNP2TKI Upbeat Migrant Workers Will Pull In $10b by Year's End

    06 October 2015

    The Agency for the Placement and Protection of Indonesian Migrant Workers, known as BNP2TKI, has estimated remittance revenue from Indonesia's migrant workers will grow 19 percent this year as the government continues to develop programs improving financial literacy among migrant workers. Remittanc... Read more ›

  • Philippines’ largest bank sets up first GCC branch

    01 October 2015

    Philippines’ largest bank sets up first GCC branch Manila-headquartered BDO Unibank, the largest bank in the Philippines, has become the first Filipino bank to set up an office in the Gulf Cooperation Council (GCC) where it will operate within the premises of the UAE’s Dubai International Finan... Read more ›

  • What to expect from small finance banks

    22 September 2015

    Customised products, more competition in remittance, and further spread of financial instruments expected On 16 September, the Reserve Bank of India (RBI) gave in-principle approval to 10 entities to set up small finance banks. The central bank has given them 18 months to comply with the requiremen... Read more ›

  • myREMIT pays tribute to day-to-day heroes

    15 September 2015

    myREMIT, the remittance arm of ABS-CBN Global Ltd. subsidiary EMoney Plus Inc., continues to pay tribute to day-to-day heroes who sacrifice abroad for their families' future. A video tribute "My Dad Left Me and I'm Thankful For It," produced for myREMIT's 15th anniversary, tells the story of a man ... Read more ›

  • Like manna from heaven

    08 September 2015

    How a torrent of money from workers abroad reshapes an economy “GULF house”, says Dinesh Kumar every few seconds, gesturing out of the window of a car as it drives through Vennicode, in south-west India. His commentary is hardly necessary. The new houses, built with money sent home by people wo... Read more ›