Global Financial Crisis Global Financial Crisis Global Financial Crisis Global Financial Crisis

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Influence of the middlemen and their interest should be controlled and problems created by them should be checked. Inspirations to go abroad and other favourable influences have to be provided to the migrant workers and employees. It should be ensured by the embassies in the overseas countries that any problem faced by the migrant workers will be taken care of as early as possible and Ministry of Foreign Affairs will have to take every responsibility to take care of the native manpower. Government has to make a close relationship with the concerned overseas countries to search job opportunities in those countries. Remittance sending procedure should be developed to make it secured, quick and effective. Available formal channels for sending money to the native country have to be reorganized to take as short time as possible. Moreover the remittance sending process should be liberalized so that irregular emigrants can also send remittance through regular channels. Charges on sending money should be very favourable for the migrant workers. All information regarding migration should be preserved by the concerned authority Mobilizing GOB support Micro credit to help the workers to go abroad Involvement of the private sector Explore new markets opportunities Skills development Stronger enforcement of regulatory mechanism Strengthening of exiting overseas employment infrastructures and mechanisms within the GOB Facilitating overseas migration from poverty prone regions Taking SFYP-Plus measures for the overseas migration sector Finalizing a comprehensive migration policy Strengthening Bilateral, Regional and Multilateral collaboration WTO-GATS and Bangladesh’s Opportunity Conclusion Recommendations, based on the findings, if implemented will enable the Government of Bangladesh to deal with adverse economical conditions when remittance inflow will decrease. Policies will need to be implemented and proper formulation of the activities should be done to achieve the target as laid down in this paper. Hence, decrease in remittance will not have a major importance in least developed countries like Bangladesh. Despite the risks of a lagged response to a weak global economy, Bangladesh has fared quite positively during the heart of the crisis. In the overseas employment sector, there has not been a mass return of workers from abroad and the inflow of remittance also did not register a sharp decrease. Remittances are also expected to remain more resilient than private capital flows and are forecast to become even more important as a source of external financing in many developing countries. Policy response could involve efforts to facilitate migration and remittances to make these flows affordable, safer and more productive for both the sending and receiving countries.


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