Overseas Employment : Family Remittance Management System

On Saturday, Union Minister for Labour U Khin Maung Soe met with personnel from Department of Labour and Managing Directors from Licensed Overseas Employment Agencies at Myawaddy Media Center in Yankin Township, Yangon.

In his remarks, the Union Minister stated that the Ministry has been facilitating and approving the overseas deployment of workers through licensed overseas employment agencies, including skilled workers and workers returning from leave.

In order to minimize difficulties in the overseas deployment, only essential requirements are scrutinized and approved. As the remittance through official and legal channels not only contributes to improving the socio-economic well-being of the families, but also helps increase foreign income of the nation, an agreement is signed between agencies and workers to remit 25% of monthly salary remittance to families through official channels.

The Union Minister called for the collaborative efforts of the Myanmar Overseas Employment Association and Overseas Employment Agencies to ensure the families receive the full remittances, and coordinated necessities. Subsequently, the Union Minister met with Authorized Dealer (AD) Licensed State-owned Banks.

In his remarks, the Union Minister called on active participation of AD licensed banks to increase family remittances. He added that the Ministry is also holding coordination meetings in cooperation with Central Bank of Myanmar to ensure the accurate collection of data on remittances and to establish a convenient remittance system.

Likewise, the Union Minister encouraged on successful implementation of Family Remittance Management System-FRMS in collaboration with CBM, relevant banks and licensed overseas employment agencies.