Myanmar reins in employment agencies to harvest remittances

BANGKOK -- Myanmar's cash-strapped military regime has intensified its scrutiny of the nation's 580 labor agencies in a bid to make more money from overseas workers' remittances to address its foreign currency shortage and stabilize the economy.

The Ministry of Labor ordered the employment companies to submit in person evidence of remittance transfers by overseas workers to its headquarters in the capital, Naypyitaw, according to a directive dated Aug. 12 seen by Nikkei Asia. Failure to comply could result in the suspension of their operations, the ministry warned.