This paper looks into the remittance channels used by Bangladeshi labor migrants in Hong Kong and Malaysia and examines the reasons why they prefer particular modes of money transfer. Data were collected from 126 respondents (56 in Hong Kong and 70 in Malaysia) through a survey conducted during June 2004 to October 2005. An overwhelming majority of migrants preferred unofficial over official channels in transferring money. According to migrants, the informal channels are quicker in transferring money and the exchange rate is higher than the formal channels. They recognized though that there is a considerable amount of risk in remitting through informal channels.
Get full access to this article
View all access options for this article.
References
1.
AbellaM.1989“Policies and Practices to Promote Remittances,”Philippine Labor Review, 13(1):1–17.
2.
AlburoF.A.AbellaD. I.1992“The Impact of Informal Remittances of Overseas Contract Workers' Earnings on the Philippine Economy.” Mimeo. ARTEP, New Delhi.
3.
AthukoralaP.1993“Statistics on Asian Labour Migration: Review of Sources, Methods and Problems.” Paper presented at the Seminar on Regional International Labour Migration Statistics in Asia, New Delhi, 17–19 March.
4.
Bangladesh Bank. 2007“Central Bank of Bangladesh. Economic Data. Country wise Remittance Inflows,”http://www.bangladesh-bank.org/, accessed on 20 January 2007.
5.
Bangladesh Bank. 2006Report on Remittances and Foreign Exchanges. Dhaka: Bangladesh Bank.
6.
Bureau of Manpower, Employment and Training (BMET)2006“Flow of Migration by Country of Employment.” Report. Dhaka.
7.
Bureau of Manpower, Employment and Training (BMET)2005“Country-Wise Year-Wise Remittance.” Report. Dhaka.
8.
BowringPhilip2005“The Puzzle of Bangladesh,”The International Herald Tribune, 7–8 May.
9.
BrownP.C.1995“Consumption and Investments from Migrants' Remittances in the South Pacific.” Report submitted to the International Labour Organization, Geneva.
10.
BrownP.C.1992“Migrant Remittances, Capital Flight, and Macroeconomic Imbalance in Sudan's Hidden Economy,”Journal of African Economics, 1(1):86–108.
11.
CarlingJørgen2005“Migrant Remittances and Development Cooperation.”International Peace Research Institute, Oslo.
12.
Van DoornJudith2000“Migration, Remittance and Small Enterprise Development.”Geneva:International Labour Organization.
13.
GammeltoftPeter2002“Remittances and Other Financial Flows to Developing Countries,”International Migration, 40(5):181–211.
14.
International Organization for Migration (IOM)2005Dynamics of Remittance Utilization in Bangladesh. IOM Migration Research Series No. 18. Geneva: IOM.
15.
International Organization for Migration (IOM)2003“Defining Migration Priorities in an Interdependent World,”Migration Policy Issues, 1:1–6.
16.
Inqilab Daily2004Immigration Department Turned to Business Centre: Anything Can be Done One Wishes by Bribes. Dhaka. 20 July.
17.
Jugantor Daily2004“Illegal Workers in Malaysia to Get Legal Status.” 7 July.
18.
KardarS.1992“Exchange and Payment Reforms in Pakistan.”UNDP/ILO-ARTEP, New Delhi.
19.
KaziS.1989“Domestic Impact of Overseas Migration: Pakistan.” In To the Gulf and Back: Studies on the Economic Impact of Asian Labour Migration. Edited by AmjadR., New Delhi: ILO/ARTEP.
20.
MiyanAlimullah M.2003“Dynamics of Labour Migration-Bangladesh Context.” Paper. International University of Business Agriculture and Technology, Dhaka.
21.
PuriShivaniRitzemaTineke1999“Migrant Worker's Remittances, Micro-finance and the Informal Economy: Prospects and Issues.” Working Paper No. 21. International Labor Organization Working Paper 21, Geneva.
22.
QuibriaM.G.1986“Migrant Workers and Remittances: Issues for Asian Developing Countries,”Asian Development Review, 4(1):78–99.
23.
QuibriaM.G.ThantM.1988“International Labour Migration, Emigrants' Remittances and Asian Developing Countries: Economic Analysis and Policy Issues.” In Research in Asian Economic Studies. Edited by DultaM., Greenwich, CT: Jal Press.
24.
RussellS.1992“Migrant Remittances and Development,”International Migration, 30(3/4):267–287.
25.
RussellS.1986“Remittances from International Migration: A Review in Perspective,”World Development, 14(6):677–696.
26.
Udbastu2005“How Irregularities are Committed?”Vol.33.
27.
SaithA.1989“Macroeconomic Issues in International Labour Migration: A Review.” In To the Gulf and Back: Studies on the Economic Impact of Asian Labour Migration. Edited by AmjadR., New Delhi: ILO/ARTEP.
28.
SandhuHarjit Singh1998“Hawala-A Good Old Vehicle for the Movement of Bad Money,”Laundering News, 2:2.
29.
SiddiquiTasneemChowdhuryAbrar R, 2003“Migrant Worker Remittances and Micro-Finance in Bangladesh, Social Finance Programme.” Working Paper No. 38. Prepared for the International Labour Office.
30.
SkeldonRonald2003“Migration and Migration Policy in Asia: A Synthesis of Selected Cases.” Paper. University of Sussex.
31.
SwamiG.1981“International Migrant Workers' Remittances: Issues and Prospects.” World Bank Staff Working Paper 481, Washington, DC.
