Remittance refers to the transfer of money from a person working in one country to their home country. It is often carried out by migrants who send a portion of their earnings back to their families. Remittances are typically done using channels like banks or money transfer services, providing vital financial support to families and communities abroad.
Additionally, remittances can also involve sending money from the home country to support family members who have relocated to a new country for settlement, study, or other purposes. This financial support helps ease the transition and cover essential expenses in the new country.
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