The State Bank of Pakistan (SBP) and the Bureau of Emigration and Overseas Employment (BE&OE) jointly launched on Friday the Pre-Departure Briefing Program to sensitize workers going abroad about the process of sending remittances to home and relevant schemes by the government and banks.
The program will be organized in all Protectorate of Emigrants (PE) Offices across Pakistan to educate intending overseas workers about formal channels for sending remittances, assist them in opening bank accounts, especially joint accounts, highlight the risks involved in using informal channels and update outgoing workers about government’s programs and schemes as well as banks’ products related to home remittances. Executive Director SBP Akhtar Javed and Director General, BE&OE Akram Ali Khowaja launched the program in a ceremony that was attended by the senior officials of SBP, PRI, BE&OE and representatives of the large remittance mobilizing banks, said a statement issued here.
The Pre-Departure Briefing Program, developed by Pakistan Remittance Initiative (PRI) in collaboration with Bureau of Emigration and Overseas Employment (BE&OE) and banks, is considered the key initiative for domestic outreach for educating outgoing workers to use formal channels for sending home remittances. As the outgoing workers are required to register with PE Offices across Pakistan; therefore, the program presents an excellent opportunity, on ongoing basis, to educate outgoing workers for using formal channels for sending remittances back home and opening their own and their beneficiary’s bank accounts, it claimed.
Akhtar Javed highlighted the significance of home remittances for Pakistan’s economy and elaborated that the remittances provide stability to the countrys economy by boosting foreign exchange reserves and supporting the balance of payments.
Shedding light on the importance of the Pre-Departure Briefing Program, he hoped that it will play a crucial role in raising awareness among intending overseas workers about formal channels besides informing them about the risks involved in the informal channels. Head PRI Zulfiqar provided details of the program, the activities to be undertaken and roles and responsibilities of banks, SBP/PRI and BOE&OE.
While DG Akram Ali appreciated the State Bank of Pakistan, PRI and banks for initiating the program for the overseas workers and assured that BE&OE will fully cooperate.
