Mr Tony Burke (Watson, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

I rise to speak on a very important and concerning issue relating to the decision by banks in Australia to close the accounts of remittance services in Australia. Remittance services have been a very important aspect of the banking system for some years. These services allow many communities to send money back to families in developing nations that often do not have established banking networks, or modern forms of electronic fund transfer capabilities. It needs to be understood that the payment of remittances is not simply some birthday present or bonus payment that communities try to send from time to time—it goes to the core of people looking after their families and why they go to work each day.

I have written to the finance minister asking that the government take action on this. It is important to these communities in Australia that we find a way for remittance services to be resumed. There are occasions when specific transactions can and should be stopped for national security reasons, but to stop all remittance services in the manner that has occurred pushes many hardworking Australians into a circumstance where they cannot help people who are from their family who are completely reliant on that help. This has been a big issue in my electorate. Earlier this week in Canberra I met with representatives of the Somali community in Melbourne. It is within the grasp and the gift of the government to work with the banks and have this issue fixed.