Ciudad Juarez.- Following an alliance with the United Nations International Organization for Migration (IOM/UN Migration), Banco Azteca will facilitate financial and labor inclusion for migrants of different nationalities who are in Mexico through Guardadito Amigo Migrante.
Currently, migrants have difficulties accessing financial services in the country for various reasons, including the lack of immigration and identification documents, ignorance of their rights, the lack of banking services offered by private banks and, in many cases, discrimination, the international agency noted.
On the other hand, the lack of knowledge among Mexican financial institutions about the valid immigration documentation required for migrants to access bank accounts or other financial products, such as loans and insurance, limits their socioeconomic integration, since access to financial services is closely linked to access to formal employment, he said.
Following the alliance with IOM, Banco Azteca created the Guardadito Amigo Migrante account program, a scheme that seeks to serve migrants by allowing them access to financial services and facilitating their integration into the formal labor market.
“Financial inclusion is not only key to sustainable development, but it also gives people more freedom by allowing them to take control of their economic future,” said Tonatiuh Rodríguez, CEO of Banco Azteca, in a press release issued by the international organization.
He assured that the commitment between the financial institution and the IOM will allow people on the move to access financial services safely and efficiently.
IOM reported that the cooperation agreement reached will set an important precedent in promoting effective access to banking for migrants, while allowing the bank and the organization to share good practices and lessons learned with government authorities and other companies on mechanisms to promote financial inclusion for migrants in Mexico.
“Despite the opportunities and benefits of labour migration, in Mexico a large part of the migrant population still faces significant barriers to economic integration (…), which greatly limits migrants’ ability to save and invest and prevents their full socioeconomic integration (…). Thus, financial inclusion can be a step towards enabling their participation in the formal economy and in community life,” said Jeremy Mac Gillivray, Deputy Representative of IOM Mexico.
Information on the Guardadito Amigo Migrante account can be found on the bank’s official website, in Spanish, English and French, and can be opened with 1 Mexican peso.
In addition to allowing you to use your card in Mexico and abroad, and check your balance through the app or at branches, the account also gives you access to medical, legal, and psychological assistance for the cardholder and his or her family. (Hérika Martínez Prado)
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