Foreign Remittances Grow to $1.5 Billion

[geovalin]

Foreign remittances from migrant workers and Cambodian businessmen based overseas are expected to grow to over $1.5 billion this year, according to Acleda bank. So Phonnary, executive vice president of Acleda, told Khmer Times yesterday that this year the bank had been recording an average of 12,600 transactions per month of money coming in from overseas.
 

“These transactions are about $129 million a month,” she said. Ms. Phonnary said the money transferred from overseas to Cambodia were mainly from migrant workers and businessmen.
 

“Cambodian migrant workers and businessmen based overseas send money home using Acleda’s SWIFT system and also through Western Union. Migrant workers, though, prefer Western Union because it is fast,” she said. Ms. Phonnary pointed out that the foreign remittances were mostly from Thailand, Malaysia, South Korea, the US, France and Canada.

 

read more http://www.khmertimeskh.com/news/31820/foreign-remittances-grow-to--1-5-billion/

 

 

-- © Copyright Khmer Times 09/11

[mettech]

I do know a few Cambodian national living in Canada and working there in Edmonton Alberta and they do religiously send money to family left in Cambodia.