17 Jun DMA Global Pledge to Support International Day of Family Remittances 2020
The International Day of Family Remittances was adopted by the United Nations in 2018. June 16 is officially designated as the International Day of Family Remittances. The Day aims to recognise, and raise global awareness of, the fundamental contribution migrant workers make to the wellbeing of their families and communities back home, and to the sustainable development of their countries of origin. Remittances represent one of the largest single financial force for good on the planet.
At around US$700 billion, the money sent home annually by migrant workers dwarfs international aid and, in most instances, foreign direct investment too. Remittances also power financial inclusion and disproportionately benefit both the poor and women in emerging markets. Hundreds of millions of families globally rely on these money flows to keep food on the table and a roof over their heads.
This year has already been extremely tough on migrant workers, so it is more important than ever to offer a day of thanks and celebration to the impact that they make. The unprecedented impact of Covid-19 has demonstrated how important migrants are not only to their family and friends but to their countries of origin as a whole.
June 16 is the day we celebrate the hard work, sacrifice and generosity of international workers. As stakeholders in the remittance market, we, pledge to work together to make remittances faster, cheaper and more accessible to all so that this growing pool of money has the greatest impact possible on the lives of the poorest.
We call on governments, regulators, market operators financial institutions and development bodies to do everything in their power to help us achieve that aim. We are committed to celebrating the power of remittances with people throughout the world and will do everything we can to assist all stakeholders trying to improve remittances to support the migrants and their families who make such personal sacrifices to improve their lives.
DMAG is an international development consultancy specialising in all areas of international finance. DMAG’s core competencies include; remittances and payments market research, financial inclusion, programme design and implementation, product design, market entry and inward investment. Widely regarded as a leading remittances and payments consultancy, DMAG is engaged by both the public and private sector to deliver projects around the world.