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<p>The Remittance and Payments Partnership programme, which ended in 2011, had the objective of improving access to and reducing the cost of remittances for the poor in Bangladesh. Key programme outcomes include:</p><p>Savings of $66 million by migrants in Saudi Arabia, UK and Singapore by bringing down the cost of formal remittance transfers.</p><p>Establishment of the Bangladesh Automated Cheque Handling System that has resulted in a reduction in the time required to deliver a remittance. 95% of individuals surveyed received their remittances in less than 15 days, of which 65% received them in less than seven days compared to 20-25 days.</p><p>Increased usage of formal remittance channels, reported to be at 90%.</p><p>Emerging Markets Group implemented this programme in partnership with Bangladesh Bank, International Organisation for Migration and Refugee and Migratory Movements Research Unit.</p> |