The Handbook for Armenians Abroad was published in 2010 by the Armenian Ministry of Diaspora with the support of the ILO-EU project 'Towards Sustainable Partnerships for the Effective Governance of Labour Migration in the Russian Federation, the Caucasus and Central Asia'.
The Republic of Korea has built infrastructure that directly links national remittance service providers with those in receiving countries to provide real-time remittance services at affordable costs, through the removal of intermediary services such as SWIFT and the establishment of bilateral partnerships between clearing and settlement institutions (e.g. the Korea Financial Telecommunications and clearing institutions).
The ASEAN Framework Agreement on Services (AFAS) was signed on 15 December 1995 by the ASEAN Economic Ministers, allowing for Mutual Recognition Agreements (MRA) in various professions and an agreement on the Movement of Natural Persons (MNP)
The government of El Salvador, through the experience of linking migration with development seeks a productive, economic, social and cultural integration of migrants and their families; as well as the guarantee of their economic, social and cultural rights.
This case study forms part of a series of case studies on good practices, lessons learnt and recommendations extracted from the projects supported by the UN Joint Migration and Development Initiative (JMDI) to enhance migration management for local development. The experience of the JMDI shows that the most effective initiatives are anchored with local or regional authorities and carried out in a multi-stakeholder and participatory approach, including migrants and migrants’ associations or diaspora.
Pakistan and China are engaged in a partnership to build China-Pakistan Economic Corridors (CPEC) which aims to enhance connectivity between the two countries through building up of highways and railroads. The goal is to spur economic activity for the mutual benefit of both Pakistan and China as well as for the entire region.
The Indian ICICI Bank offers hybrid solutions with remittance kiosks and ATMs in migrant areas and dormitories. Kiosks in Singapore and Bahrain can be used to transfer funds to India on the same day. ICICI sees mobile banking as a powerful medium for further financial inclusion.
The provision of basic skills to manage finances can have a considerable impact on the choice of modes of remittance transfers, expenditure preferences, savings behaviour and options for converting remittances into assets.
The Bangladesh Bank, national commercial banks, and public commercial banks have created a number of investment products aimed specifically at migrants and their families. These products include bonds, deposit pension schemes (DPS), fixed deposits, savings accounts, investment loans, and investments in capital markets through, for instance, the Non-Resident Investor’s Taka Account (NITA).
The Pakistan Remittance Initiative (PRI) was launched in 2009 by the State Bank of Pakistan, the Ministry of Overseas Pakistanis and the Ministry of Finance for the purpose of (a) facilitating and supporting a faster, cheaper, convenient and more efficient flow of remittances, and (b) to create investment opportunities in Pakistan for overseas Pakistanis. The PRI has encouraged the financial sector to provide greater commitment to remittance services.