Remittance Inflow: Proactive steps can fetch $30b a year
Say speakers at a webinar, urge more govt incentives for remitting money through formal channels Staff Correspondent Staff Correspondent
The country could receive as much as $30 billion in remittance annually if proactive steps are taken by the government and other stakeholders, including the banking sector, speakers said at a dialogue yesterday.
They said the use of formal channels to remit money home was still not at the level. The channel also lacked the required speed to encourage more remitters to use it and the speakers suggested that further government incentives could encourage them to use the formal channel.