The effectiveness of Dahabshiil remittances is one of the reason behind International Day of Family Remittance (IFAD)

0
97

 

Dahabshiil Company celebrated the International Family Remittance Day which is celebrated every year on June 16 worldwide.

“Today, June 16th, we celebrate International Family Remittances Day” was published Dahabshiil Instagram account.

In a statement issued by the Department of diaspora Office of the Ministry of Foreign Affairs, it stated that the Somaliland diaspora in the world sends funds of two billion dollars a year, apart from other funds for the activities of donations and disasters that they participate in, as stated by the Governor of the Central Bank of the Republic of Somaliland.

According to a World Bank report, Somaliland is the largest recipient of remittances in Africa.

The theme of the 2024 Family Remittances campaign is “Digital remittances towards financial inclusion and cost reduction,” highlighting the positive effects of digitalization in reducing costs, improving access, and advancing financial inclusion.

IFAD’s Resolution Proclamation of an International Day of Family Remittances Approved by 176 Member States of IFAD’s Governing Council on 16 February 2015.

It is worth noting that for the past two decades the remittances has gone up five fold globally, hence its costs has duly been going down annually, becoming the cheapest and swiftest means of such services.