Remittances dip on exodus

15 July 2014
The Phnom Penh Post
Banking and financial services / Economic policy and administration / Economy and commerce / Government / Ministries and other national bodies / Ministry of Foreign Affairs and International Cooperation
ACLEDA Bank / Anthony Perkins / Cambodian Economic Association / CEA / Cham Yeam / In Channy / Ministry of Foreign Affairs / O’Smach / Thailand / WING

Two of Cambodia’s largest financial service providers have reported declines in transactions stemming from key Thai border provinces as thousands of undocumented migrant workers continue to exit the neighbouring country. Third-party payments and remittance service Wing has seen a 3 per cent decline in the amount of money being transferred to and from users located in five key Thai border provinces, company data seen by the Post show. CEO of Wing, Anthony Perkins, said that Koh Kong, Pursat, Preah Vihear, Battambang and Pailin provinces saw a combined $1.7 million decline in domestic remittances during June, equaling just 0.5 per cent of the firm’s nationwide volume. ...

 Eddie Morton
http://www.phnompenhpost.com/business/remittances-dip-exodus