Do you know that the 16th of June has been declared the INTERNATIONAL DAY OF FAMILY REMITTANCES by 176 governments in the world?
The first celebration took place in 2015 at the GLOBAL FORUM ON REMITTANCES AND DEVELOPMENT, June 16-19 , 2015 in Milan, Italy as part of the World Expo. The International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations, is the institution behind the idea and the development of the IDFR. The IMTC was part of the first celebration in Milan where the international community recognized the work of the private sector in facilitating the sending of remittances, in developing cost-effective and accessible financial transfer services, and encouraged the industry to link these flows to a range of financial services and products for migrants and their families.
This day is important in order to capitalize on the potential of remittances to further help meet the economic, social and environmental challenges confronting developing countries.
Proclaiming an International Day of Family Remittances represents an invaluable opportunity not only to recognize the efforts of migrants globally, but also to strengthen current cross-industry partnerships and create new synergies among sectors to promote the development impact of remittances worldwide and join together to help reach the ultimate goal of making migration for future generations more of a choice than a necessity.
The number of international migrants — persons living in a country other than where they were born — reached 244 million in 2015 for the world as a whole, a 41% increase compared to 2000, including almost 20 million refugees. That is almost 3.5% of the world population (up from 2.8% in 2000) according to the United Nations.
In recent years, the remittance services industry, a key part of the financial ecosystem, has come under increasing pressure from “de-risking” and bank discontinuance by the international financial sector and negative connotations associated with migration.
June 16th must be a celebration of the hard work, sacrifice and generosity of international workers and the services that we as an industry provide, making remittances a reality for millions of migrants worldwide
Currently, there are almost 250 million international migrants worldwide living outside the country they call home. Throughout civilization, people have always been on the move, seeking better opportunities for themselves and their families – it is part of the human condition. But the scale of migration from rural to urban areas, and across national borders in the 21st century, is unprecedented. Indeed, it has been accurately characterized as “the human face of globalization”.
If your or your institution wants to help us promote the IDFR and wants our help please contact us. We can provide you with Stickers and other materials fo disseminate this important day for migrants and their families, for the institutions that work on the power of remittances to provide development, investments, better education, better housing and better nutrition, help in natural disasters, financial education, etc. and for the International Money Transfer & Payments Industry that provide this needed services with safety, speed, efficiency and the least cost possible to all the migrants in all the countries in the world.
For 2016 the World Bank estimates than more than 600 Billion US Dollars will be sent in family remittances to Developing Countries. These are only the recorded flows. The volume could easily surpass one Trillion Dollars if airtime, international bill payments, carry-on transfers, unrecorded flows (informal transfer systems) are counted. The volume doesn’t tell the story. Is the number of the transfers, is the generosity of the senders and their sacrifice, the tenacity of the migrants to seek better opportunities fighting against all odds, against racism and discrimination, against closed borders, walls and border patrols. The IDFR celebrates family..
June 16, 2017
Join us for the RemTECH Awards at IMTC USA 2017 in San Francisco! On June 16, 2017 at the Park Central Hotel we will host the Remittance Innovation Awards and we will celebrate the International Day of Family Remittances. Check the categories and help us spread the word to get many participants to submit their solutions to bring the industry forward.
June 16, 2016
On the occasion of the IDFR 2016, KNOMAD, the WORLD BANK and IMTC invited the general public to a one-hour virtual session entitled Migration and Remittances: Global Trends, Outlook, and State of Play. Speakers were Dilip Ratha, Head, KNOMAD and Lead Economist, Migration and Remittances, World Bank and Hugo Cuevas-Mohr, Director, IMTC Conferences and Mohr World Consulting. Here are the voice recordings and the available transcripts.