We can learn from PRI

A recent report published in The Daily Star (25.11.2012) titled “Bangladesh drops in remittance ranking” mentioned that although Bangladesh continues to be the top 10 remittance receiving countries, it has slid one notch down compared to last year. On the other hand, countries like Pakistan and Nigeria have improved in remittance earnings from the previous years. The reason behind the success of Pakistan in remittance ranking position in recent years was the state-driven joint initiative called “Pakistan Remittance Initiative” (PRI). Under this framework, the government encouraged the state bank to open dedicated Home Remittance Centres and enhance their activities overseas for collecting remittances.
Further, to provide a reliable and immediate contact, a call centre has been established which is open 24 hours a day, 7 days a week. Through the call centre the overseas Pakistanis and their families back home can inquire about the remittance services of the bank and lodge complaints if they have any. The call centre has provided a toll-free number for the overseas Pakistanis residing in 12 countries of the world. That has increased Pakistan's remittance earning from US$ 6.4 billion in FY 2007-08 to US$ 13.2 billion in FY 2011-2012.
The main motto of PRI programme is 'nearer to remitter and nearer to beneficiary,' which resulted in reduction of remittance delivery time and increased the overall standard of the service. PRI can be a lesson for Bangladesh that will not only reduce the suffering of the remitters and remittance receivers but also increase the total amount of remittance. It can also be helpful to improve the remittance ranking position of Bangladesh in the near future.