KL bank launches rupiah remittance<\/p>\n
KUALA LUMPUR (AFP): Malaysia's Pacific Bank, through a pact
\nwith Indonesia's Bank Bali, launched yesterday an Indonesian
\nrupiah remittance service to cater to the rapidly rising number
\nof Indonesians working in the country.<\/p>\n
\"The electronic transfer facility is intended to benefit
\nIndonesian nationals working in Malaysia,\" said Pacific Bank
\nexecutive chairman Lin See Yan.<\/p>\n
It is similar to the Filipino Peso remittance service the bank
\nlaunched a year ago to serve Filipinos working in Malaysia.<\/p>\n
Lin said through arrangements with Bank Bali, one of the
\nleading commercial banks in Indonesia with a national network of
\nmore than 120 branches, rupiah remittances would be made
\nelectronically.<\/p>\n
Pacific Bank's nationwide branch network will be raised from
\n44 to 49 next month.<\/p>\n
Foreign workers in Malaysia remit a conservative estimate of
\n2.4 billion ringgit (US$960 million) a year from their wages,
\naccording to recent figures released by Malaysian Human Resources
\nMinister Lim Ah Lek.<\/p>\n
Industry officials said the estimate was based on the official
\ncount of 1. 5 million foreign workers in the country, without
\ncounting the rising number of those working illegally.<\/p>\n
An acute labor shortage fueled by eight straight years of
\nrobust economic growth averaging eight percent a year has sparked
\nan influx of foreign workers into the country, labor officials
\nsaid.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/kl-bank-launches-rupiah-remittance-1447893297",
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