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Financial Education for Migrants and their Families

Adele Atkinson and Flore-Anne Messy
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Adele Atkinson: OECD
Flore-Anne Messy: OECD

No 38, OECD Working Papers on Finance, Insurance and Private Pensions from OECD Publishing

Abstract: Money remitted by international migrants is a major source of income for many countries around the world, exceeding all international development funds combined. Yet individual migrants and their families are often amongst the most vulnerable people in society, and many face significant barriers to the access and use of appropriate financial products. Recognising their importance and vulnerability, some home and host countries are taking measures to support migrant workers and their families and improve their financial literacy; in some cases this occurs within the framework of a national strategy for financial education. In order to increase the extent of such support and to improve international co-operation, this paper seeks to illustrate the key challenges and suggest possible ways forward. The lessons learned will be used by the OECD and its International Network on Financial Education to develop a checklist for policy makers in order to increase the coverage of high-quality financial education for migrants.

Keywords: emigrants; financial education; financial inclusion; immigrants; migrants; remittances (search for similar items in EconPapers)
JEL-codes: D14 D18 F22 F36 G28 I28 J61 R23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mig
Date: 2015-03-30
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