Thursday, 15 November 2012

‘Informal’ OFW remittances P242 billion higher

Jun Vallecera
Business Mirror

The amount of migrant-worker remittances passing through informal channels tops those passing through the banks by a wide margin, estimated at some 30 percent to 40 percent by the Asian Bankers Association (Aba).

This was revealed at the conclusion of the meeting of Aba member-countries held at the Shangri-La Hotel on Tuesday, in which issues of common concern like the financial integration by 2020 were discussed, among other things

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