On May 9, 2014, The Western Union Company marked its first anniversary in Myanmar with a special celebration in Yangon, themed â€śJourney to Prosperity.â€ť
Online PR News – 23-May-2014 – Yangon, Myanmar – YANGON, MYANMAR â€“ On May 9, 2014, the Western Union Company (NYSE: WU), a leader in global payment services, today marked its first anniversary in Myanmar with a special celebration in Yangon, themed â€śJourney to Prosperity.â€ť
Western Union is one of the first global money transfer companies to provide service in Myanmar, paving the way for formalized international money transfers after sanctions were eased in 2012. Since its official service launch at the beginning of 2013 with just over 100 Agent locations in the key commercial towns, the Western UnionÂ® Money TransferSM service is now available at over 460 Agent locations1 across the country. Chin State, a mountainous area and one of the most difficult-to-access states in Myanmar for financial services, is the latest state to be covered with Western Unionâ€™s international service in collaboration with Cooperative Bank.
The recent signing of Yoma Bank as Western Unionâ€™s ninth agent in Myanmar will add over 50 locations and consolidates Western Unionâ€™s position as the largest international money transfer in Myanmar, linking consumers here with one of the worldâ€™s largest money transfer networks with over 500,000 locations in over 200 countries and territories.
International money transfer is an essential service for Myanmar diaspora living overseas and their families, serving as a vital link for regular financial support, education, medical and gifts for special occasions.
Myanmar emigrants form a large and significant diaspora, with over two million people living and working in Thailand, Malaysia, Singapore, Japan, Korea, Middle East, United States, Europe, Australia and other countries.
To date, consumers in Myanmar have received remittances through Western Union from 143 countries and territories.
Western Unionâ€™s Agents in Myanmar include Ayeyarwady Bank, Co-operative Bank, First Private Bank, Global Treasure Bank, Kanbawza Bank, Myanmar Apex Bank, Myanmar Oriental Bank, United Amara Bank and Yoma Bank.
Pre-departure awareness program for Myanmar migrant workers announced
To mark the first year anniversary in Myanmar, at todayâ€™s event, Western Union and its Agents announced their sponsorship of an International Organization for Migration (IOM) program aimed at promoting awareness of safe migration among Myanmar workers.
The program â€śPromoting Pre-Departure Awareness for Myanmar Migrant Workers,â€ť has been made possible through a US$62,000 grant and targets source communities of lower-skilled migrant workers in Myanmar seeking employment in neighboring countries including the Lower Mekong region. The program aims to establish a fully functional Migrant Resource Centre (MRC) in Myanmar and will raise awareness among potential migrant workers about safe migration and rights and obligations in their destination countries. The program will cover ways in which migrants can better protect themselves, financial literacy, and awareness of the cultural and societal norms in Thailand and Malaysia.
Western Union, together with Myanmar Oriental Bank, Ayeyarwady Bank, Kanbawza Bank and Co-operative Bank, has pledged to support this program. All funds raised by the four banks are being matched by the Western Union Foundation.