Promoting Low-cost Formal Remittance Channels and Financial Literacy

Event: 7th ADB-ADBI-OECD-ILO Roundtable on Labor Migration: Increasing the Positive Impact of Migration Through Finance and Technology

Promoting Low-cost Formal Remittance Channels and Financial Literacy

18 January 2017

Author / Speaker:

Pia Bernadette Roman Tayag, Bangko Sentral ng Pilipinas - Other materials by the author

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In the Philippines, remittances have become very important, given the increasing number of overseas Filipino workers (OFW) and the amount they regularly send back to the country. In 2015, official data show that they sent $25.6 million cash remittances, which is about 10% of the country's gross domestic product. This presentation shows how the Philippines is tapping remittances to improve financial literacy, promote low cost remittance channels, and push financial inclusion.

Geographical Focus:

Philippines

Type of Content:

Learning Event

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