Remittances from Youths Working in the Middle East

Remittances from Bhutanese youth working in the middle-east was around Nu 204 million last year according to records maintained by the Bhutan Postal Corporation Limited which is the only agency that operates Western Union, the international money transfer and payment services, in Bhutan.

Remittances from Youths Working in the Middle East (Source: The Telegraph)

Remittances from Bhutanese youth working in the middle-east was around Nu 204 million last year according to records maintained by the Bhutan Postal Corporation Limited which is the only agency that operates Western Union, the international money transfer and payment services, in Bhutan.

Most of the remittances came from the U.A.E, Kuwait, Qatar, and Oman. There were 4,220 transactions from the U.A.E, 1,634 from Kuwait, 1,296 from Qatar and 119 transactions from Oman in 2016.

This year from January to June alone the remittances was Nu 151 mn with 5,586 transactions in total indicating higher remittances for 2017.

This would mean a total of Nu 355 mn remitted in the last 18 months through Bhutan Post.

However, the actual remittances would be higher as youth also use other facilities like the one in the Bank of Bhutan to transfer money on a monthly basis.

“Most of us working here send around Nu 20,000 monthly back home to support our parents. Since we get free accommodation and food, we send whatever we earn home. We try to send more when we get better tips,” said Sangay, a youth working in Dubai. “I am the only child and I want to help my old parents.”

Sonam, another youth working there, said he saves half of what he earns and sends the rest home.

But Tshering, on the other hand, said that since she and some of her friends availed loans to apply for the employment program, they used their earnings to repay loans.

According to the manager of Western Union, Karma Wangchuk, the remittances indicate that youth placed in the Middle East for overseas employment are increasing and that their earnings are positive, which is a good sign.

He said on the other hand, it shows trust, reliability and prompt services rendered by the financial payment service.

He added that under the cooperation between Western Union and Bhutan Post, customers can use the service for receiving money from all parts of the world but can send money to India only, which is due to objection from the Central Bank.

The Director General of department of employment and human resources in the labour ministry, Sherab Tenzin, said the main objective of the government for initiating overseas placement is to engage youths meaningfully, have them gain proper work experience and enhance their skills.

“Remittances have played an important role in many countries; it will have a positive impact for Bhutan as well. And it is a good news that the earnings of the youths working in the Middle East countries are in hard currency,” said the director general.

 

By Sonam Yangdon (This article has been edited for the Bhutan Times)

Photo Credit: The Telegraph

This article first appeared on The Bhutanese.

 


Related Posts

Bhutanese Youths head to South Korea for Vocational Training

A total of 18 young Bhutanese headed to South Korea’s Jeju Province in late Sept 2017 where they will undergo trainings...

Oct 06, 2017 17:30

Entrepreneurship Course Equips Youth with Business Skills

More than 30 out of school youths are learning how to make banana bread, chips, fruit wine and cardamom tea at a basic...

Oct 15, 2017 15:21

First Bhutanese Instant Noodles Hit Market

KP Noodles, manufactured by KP Foods in Chengmari, Samtse, has come up with noodles of three flavours – Hot Garlic...

Apr 20, 2018 04:34

Demand for Bhutanese Honey Encourages Farmers To Take Up...

Bhutan’s organic honey is highly sought after for its fine quality.

Apr 16, 2018 00:31

Top Three Winners of the National Trademark Award 2018

The objective of the award is to recognise the role and significance of the trademark system in promoting brand...

Apr 13, 2018 10:00

Latest

News

Japanese Language and Judo Centres to be Established in Bhutan

At the meeting with Lyonchhen Tshering Tobgay in Tokyo, the Prime Minister of Japan, Shinzo Abe said that Japan would support the...

Apr 19, 2018 00:21

220 Youth to be Employed by the National Housing Development Corporation

The NHDCL has already announced 220 vacancies in different occupations through the ministry’s direct employment scheme (DES) available in...

Apr 13, 2018 21:50

Features

Govt Grants Subsidy To Private Bhutanese Newspapers

The Cabinet has approved to support 50 per cent of the printing cost to a maximum of 1,000 copies a month for a period of two years.

Apr 17, 2018 10:42

Bhutan Participates In The Global Money Week 2018

The theme of the Global Money Week 2018 is “money matters matter”, which aims to inculcate the importance making smart financial decisions...

Apr 15, 2018 16:15

Sports

Bhutan’s Pelden Dorji Wins the First Asian Enduro Series in Nepal

Bhutan’s Pelden Dorji, 35 won gold in the masters A-category title at the recent Asian Enduro series held in the Nagarkot hills of...

Apr 18, 2018 06:13

Paro College To Start Physical Education And Sports Coaching Degree

The degree programme is likely to start only by 2022.

Apr 14, 2018 13:38

Business

First Bhutanese Instant Noodles Hit Market

KP Noodles, manufactured by KP Foods in Chengmari, Samtse, has come up with noodles of three flavours – Hot Garlic Chicken, Spicy Chicken...

Apr 20, 2018 04:34

Demand for Bhutanese Honey Encourages Farmers To Take Up Bee-keeping

Bhutan’s organic honey is highly sought after for its fine quality.

Apr 16, 2018 00:31

Travel

Guidelines To Manage Bhutanese Heritage Sites

The guideline will identify the roles and responsibilities of cultural heritage professionals during response and recovery events as well as...

Apr 10, 2018 16:53

19 Tour Operators Apply for SDF Refund

Tour operators who have already taken groups in the six eastern dzongkhags after the SDF wavier came into effect from November 16 last year...

Mar 24, 2018 22:35

Lifestyle

Mama's Dream - Bhutanese Clothing Line For Children

Mama’s Dream also manufactures its entire clothing items in Bhutan, hence it helps to create various employment opportunities.

Apr 16, 2018 21:50

Green Vibes – Thimphu’s First Fresh Juice Outlet

Green Vibes is the first fresh smoothie outlet in Thimphu, opened by a young, promising entrepreneur, Kinley Wangdi.

Apr 11, 2018 20:23

Subscribe to our newsletter

Never miss out on new happenings and news stories!