Diaspora Empowerment and Engagement

The International Remittance Network (IRnet®) was established in 1999 to facilitate remittance flows from the US to Latin America.

World Council of Credit Unions (WCUU )established the Network based on the urging of member credit unions from El Salvador, Guatemala, Honduras, Nicaragua, Mexico and Jamaica, and according to the World Bank it resulted in lower fees charged by the IRnet compared to major Money Transfer Companies (MTOs) - a flat rate of $10 to send up to $1000.

The Philippines National Bank has teamed up with 7Eleven and Citibank in Hong Kong to provide remittance services.  Under the agreement, Overseas Filipino Workers (OFWs) can remit on many street corners in Hong Kong through any of 7-Eleven’s 480 outlets, 24 hours a day, seven days a week.

Wells Fargo has made inroads to Vietnam by partnering with the Commercial Bank of Vietnam (Incombank) by offering an account-to-account remittance program. Customers in the United States can send up to $3,000 a day to Vietnam for $8. As one of the largest banks in Vietnam, Incombank gives recipients an opportunity to claim their funds at more than 700 branches and 400 ATMs throughout Vietnam.

Wells Fargo has made inroads to China by partnering with the Agricultural Bank of China (ABC), one of the largest banks in China, by offering an account-to-account remittance program. Customers in the United States can send up to $1,000 a day to China for $8. Recipients can claim their funds at more than 31,000 ABC branches and 12,500 ATMs throughout China.

In Mexico, on a weekly basis, the Procuraduria Federal del Consumidor (PROFECO)- the Federal Attorney's Office of Consumer - publishes fee statistics on a USD $300 remittance, the exchange rate banks apply to the payments, dollars received and the total cost of the remittances.

This information helps Mexican migrants make informed choices when sending remittances home. 

The Bangko Sentral ng Pilipinas ('BSP', the Central Bank of the Philippines) issued a circular in January 2005 requiring bank and non-bank financial institutions to s to register with the BSP and to post the charges for their various remittance products including cost clarifications. This is partly to address the non-response of service fees despite the decrease in costs incurred because of automation in the remittance process.

In 1990, under the patronage of King Hassan II, the Foundation for Moroccans Living Abroad was created to promote economic and cultural co-operation with the diaspora and to support them. This Foundation, in co-operation with the International Organization for Migration (IOM) established an Observatory of the Moroccan Community Living Abroad (EOMC), which offers an information system for the government on migration management issues. 

The Sri Lanka Bureau of Foreign Employment (SLBFE) was formed by an Act of Parliament in 1985, one of its objectives being the establishment of an Overseas Workers Welfare Fund (OWWF). The OWWF aims to meet all expenses incurred in providing assistance to Sri Lankan migrant workers and their families. The Fund offers a compulsory insurance scheme, coverage of cost of repatriation of migrant workers, scholarships for children, and loan schemes with partner banks to cover migrants' pre-departure costs and start-up of self-employment schemes.

The "Colombia Nos Une" ('Colombia Unites Us') program was created by the Ministry of Foreign Affairs, through its Directorate of Migration Affairs, Consular and Citizen Services, specifically targeting Colombians living abroad.

It aims to :

The main goal of this portal is to promote the access of the Chilean citizens residing abroad to government services and information. It also: