Malaysia To Set Up UPU Regional Technical Centre

KUALA LUMPUR, Nov 12 (Bernama) -- Malaysia has held talks with Universal Postal Union (UPU) over the establishment of a regional technical centre for its postal financial services known as International Financial System (IFS) in the South East Asia region. Communications and Multimedia Deputy Minister Jailani Johari said he met with UPU director-general, Bishar A. Hussein in Berne, Switzerland during his six-day working visit to Switzerland. He said the setting up of the centre was being implemented by the UPU and Pos Malaysia, the designated postal operator in Malaysia. "The IFS is the platform for electronic transfer of remittance amongst postal operators in the UPU. "Pos Malaysia is leading the ASEAN International Remittance Project which aims to open up cross-border remittance corridors within ASEAN and between ASEAN and other countries, as part of ASEAN's financial inclusion objectives where under-served areas will have access to financial services," he told Bernama Thursday. Jailani said this was in line with the government's efforts to expand cross-border remittance services to rural areas as well as to provide secure and trustworthy international remittance service to migrant workers in Malaysia. He said the regional technical support centre for IFS would enable Malaysia to play a leading role in the development of international remittance services in the region. "It is envisaged that the IFS will be linked to other non-postal remittance services such as banks and private remittance services (Western Union/Eurogiro/Moneygram)," he said. UPU, which was established in 1874, is the primary forum for cooperation between postal sector players and helps to ensure a universal network of up-to-date products and services. The international organisation fulfils an advisory, mediating and liaison role, and provides technical assistance where needed. --BERNAMA