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WSBI supports International Day of Family Remittances

WSBI supports International Day of Family Remittances

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Brussels, 16 June - WSBI supports the 2021 Global Forum on Remittances, Investment and Development. This virtual Summit will focus on the role of remittances to strengthen market recovery amidst the current global pandemic, and to improve the resilience of migrant workers and the communities where they live. In particular, the Summit will seek to share and analyze practical strategies and mechanisms related to digital and financial inclusion of migrants and their families.

The Summit will see the observance of the UN-adopted International Day of Family Remittances (IDFR), in recognition of the tireless abnegation of almost 200 million migrant workers who send money home for the wellbeing of their families in communities of origin, and who have demonstrated unprecedented resilience in these times of crisis.

In its efforts to increase financial inclusion, WSBI has always pointed to the importance of leveraging remittances as a stepping stone to financial inclusion. WSBI has created the FairRemit framework and platform with the objective to provide fair and transparent pricing and enable real-time cross-border small value remittances. The objective of the framework is to offer a fair and transparent channel for remittances, in accordance with the World Bank/BIS General Principles on Remittances. For more information on FairRemit, do not hesitate to get in touch with Mina Zhang  at WSBI.​