CPD calls for financial inclusion of migrant workers
The Centre for Policy Dialogue (CPD) has pitched for the welfare of migrant workers, saying such people needed social protection at all times during pre-migration, their stay at the host country and post-return as well. There is also the need to increase the number of subsidiary banks overseas and renewed efforts are required to encourage overseas workers to use the banking services, and not go for just remitting money, said CPD executive director Prof Mustafizur Rahman.
Rahman said this while presenting the keynote address at CPD-hosted meeting titled Safeguarding interests of Bangladeshi migrant workers: Issue of financial influence and social protection at a Dhaka hotel yesterday.
The meeting was moderated by former adviser to the caretaker government Monjur E Elahi. Among others, planning minister AHM Mustafa Kamal, minister for expatriates welfare and overseas employment Nurul Islam, state minister for finance and planning MA Mannan, World Banks Dhaka office lead economist Zahid Hussain, former finance minister M Syeduzzaman, and expatriate welfare secretary Mohammad Iftekhar Haider spoke on the occasion.
There is need for a global accord to ratify core ILO conventions by all host countries, Rahman said. A monitoring mechanism can be set up as part of the SDG implementation monitoring process, he added.
On his part, the planning minister hailed the migrant workers for playing an important role in earning foreign currency for the country. Thanks to migrant workers, the remittance inflow to the country is increasing every year. Bangladesh is expected to achieve a remittance inflow of $ 25.39 billion by 2020, Kamal added.
Kamal rued that migrant workers from Bangladeshi earned less than their counterparts from other countries because of poor English language skills. This is a great problem. We have to take remarkable steps in this regard, he added.
Kamals cabinet colleague Nurul Islam said everybodys support was needed to make migrant workers aware against sending money through risky and expensive channels.
The banking sector and we need to think of ways to provide the migrant workers and their families access to the types of formal financial services that are available to other income groups, he added.
The expatriate minister further said the government would like the cost of remittance to Bangladesh to be low.
Referring to recent studies, the minister suggested that remittances should go towards household welfare and small enterprise. Remittance flow helps to improve the livelihood of the poor and reduce income inequality, he added.
