4 percent, driven by growth in remittances
from the UAE, Qatar and Bahrain.
Documentary to raise awareness of illegal remittance
During December 2017, the inflow of worker's remittances
amounted to US $1723.
This is partly driven by base effects, as remittances
were unusually high in November 2016,' the bank said.
to Pakistan saw a sustained growth and increased from $6.
Introduction of Foree Remittance
Account, an account designed especially for the remittance
customers by National Bank is another step towards promoting financial inclusion.
1 percent of remittance
inflows to Arab countries in 2016, up from 14.
NBP also has the fastest growing overseas correspondent base for home remittances
and in a very short time the Bank has made alliance with almost all leading financial institutions Money service business providing remittance
services, for facilitation of overseas Pakistani across the globe.
Ethiopia blames illegal migration as main factor hampering efforts to elevate remittance
as illegal migrants won't be able to send money legally hence residence and work permits are required to do so.
The World Bank Group Report notes that despite economic pressures, remittance
outflows from oil exporting GCC countries continued to rise in 2015 due to maintenance of fiscal spending, and the peg to a strong USD by most economies in the GCC.
Many smaller countries are far more dependent on remittance
Growth in global remittances
, including those to developing countries, will slow sharply this year due to weak economic growth in Europe, deterioration of the Russian economy and the depreciation of the euro and ruble, says the latest issue of the World Bank's Migration and Development Brief, released on April 13 by WB.