Wednesday, 18 July 2012

‘Hundis’ Cheaper than Bank Transfers: Migrants

The Irrawaddy reports on remittances strategies for Myanmar migrant workers.
Burmese migrant workers in foreign countries welcomed the news on Jan. 1 that the country’s banks would officially allow them to remit funds to their families in Burma. However, some eight months into the scheme and migrants in Southeast Asia are finding that the charges for official transfers are higher than they previously paid using informal money agents, or hundi.

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