Remittance-linked banking services

May 2016 -- July 2016


Country: Tajikistan
Region: Central Asia
Type of Client: Not-for-profit international development agency/Bank
Year: May 2016 – July 2016

Country Information

Tajikistan is a country located in Central Asia, west of China, south of Kyrgyzstan. The population of the country in 2018 was 9,111,507. 99% of the population aged over 15 years are literate. Today, Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Because of a lack of employment opportunities in Tajikistan, more than one million Tajik citizens work abroad – roughly 90% in Russia – supporting families back home through remittances that in 2015 were equivalent to nearly 30% of GDP. The GDP of the country in 2017 was estimated to be around 7.15billion USD.

Project Information

The project involved assisting FMFB with identifying a solution to allow Tajik migrants to open, manage and access remittance-linked banking services remotely. It aimed to encourage savings and productive use of remittances in Tajikistan in the long-term and increase the amount of international remittances channeled into FMFB savings accounts.

Project/Services We Provided

Amarante achieved the objectives by:

  • Conducting interviews, reviewing available documentation, and preparing a revised draft of the specific objectives
  • Conducting Market Analysis on Migrants in Russia
  • Defining a Solution and action plan for the client to facilitate Account Origination, Account Management, and Access to Funds directly from Russia