25 Jun Remittance Services Providers: Beyond a Money Transfer Service; Socially Responsible Companies 2021
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in IDFR 2021 Celebrations
Remittance Services Providers
Beyond a Money Transfer Service; Socially Responsible Companies
2021
Money sent by migrant workers to families and friends in their countries of origin
is usually referred to as remittances.
This money is an important part of the income of millions of families worldwide, and thus contributes to the reduction of poverty. During 2019, it was estimated that there were around 272 million international migrants in the world, which equated to 3.5 per cent of the global population.
These numbers provide an idea of the magnitude of the impact which remittances
have at a global level.