Launching of “Training of Trainers” (ToT) on “Remittance Transfer in Legal Process and its Effective Utilization” in Bangladesh
Launching of “Training of Trainers” (ToT) on “Remittance Transfer in Legal Process and its Effective Utilization” organized by WARBE Development Foundation held on 18th May, 2017 at YWCA (Young Women’s Christian Association). The inauguration program began with the welcome speech of Syed Mohammad Kamal, Country Manager, Bangladesh, MasterCard. As Remittances represent the largest source of foreign currency earnings, the remittance flow in Bangladesh has grown not only in size but also in importance in terms of as a share of gross domestic product (GDP). Mr. Jabed Ahmed, Additional Secretary, Ministry of Expatriates’ Welfare and Overseas Employment, in his speech spoke on the contribution and initiative of the government for the migrant workers. Now our migrant workers can easily spend their remittance in any bank account, since MasterCard recently took a new project to facilitate the whole transaction process.
As Chief guest, Md. Israfil Alam, Honorable Member of Parliament and chairperson of Parliamentarian Caucus on Migration & Development started with the official recorded remittances which are much lower than the actual remittances that take place through official and unofficial channels of remittances are coming through different ways like friends, relatives and hundi system. Our grass root workers should be concerned about the forms of payment, because any forms of payment should be documented.
Jasiya Khatoon, Director, WARBE Development Foundation took a session on “Remittance and its Proper Utilization”. Like many other developing countries Bangladeshi migrant workers have been contributing to employment, economic growth, poverty alleviation, and social development in Bangladesh.
Md. Faruque Ahmed, Secretary General of WARBE Development Foundation described the importance to reduce the migration cost in his whole session. High migration cost also put a pressure to our migrant workers to income more money.
Syed Saiful Haque, Chairman, WARBE Development Foundation demonstrated the facilities of sending remittance in legal ways. Compared to formal channels, the hundi system is not only less expensive but also more and easily accessible, so Bangladeshi migrant workers should not be tempted by the better rate of hundi, rather they should find out a proper investment idea for their livelihood.
Md. Nurul Islam, Director of BMET at the end of the program showed some graphical statistics on remittance. He also mentioned that these large inflows of remittances are having numerous economic and development effects for Bangladesh.