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Industry news

The man changing the world of remittances

In the years following the attacks of 11 September 2001, it is not surprising that Western security forces and authorities clamped down hard on the mo

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New Study Finds Positive Impact of Remittances More Widespread than Previously Thought

The University of Colorado Boulder Leeds School of Business, which includes the well-regarded Business Research Division, and The Western Union Compan

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WorldRemit eyes $100M funding round

UK firm WorldRemit, which enables remittances to be sent and received via mobile devices, is hoping for another blockbuster fundraising round, accordi

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NBP collaborates with UAE group for fast remittance transfer

KARACHI: National Bank of Pakistan has joined hands with Al Rostamani International Exchange (ARIE) of UAE for fast transfer of home remittances from

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DBP taps Remit2Home for OFW online remittances

The Development Bank of the Philippines (DBP) recently partnered with TimesofMoney Ltd. through its Remit2Home service to offer Overseas Filipino Work

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DBP taps Remit2Home for OFW online remittances

The Development Bank of the Philippines (DBP) recently partnered with TimesofMoney Ltd. through its Remit2Home service to offer Overseas Filipino Work

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DBP taps Remit2Home for OFW online remittances

The Development Bank of the Philippines (DBP) recently partnered with TimesofMoney Ltd. through its Remit2Home service to offer Overseas Filipino Work

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Thomas Cook launches 26 forex branches

Thomas Cook (India), a travel and travel related financial services company, has launched 26 foreign exchange branches and Gold Circle Partner (franch

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CFPB’s Final Remittance Rule Boosts Exemption to 100 Annual Transactions

The Consumer Financial Protection Bureau on Tuesday released the final part of its new remittance rule, increasing the maximum number of annual transa

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Dialog launches eZ-cash

The country's first Mobile Money service eZ Cash was launched by Dialog Axiata, the company which revolutionised the mobile telephone market.

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Public sector

World Bank Group: Remittances – A Vital Channel for Global Cash Flows

Source: Cfi.com Envision the world economy as a complex, interconnected array of financial engines whose propulsion helps reinforce one another’s mom

27-01-2015
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Philippines allows Christmas remittance peso boost

Date: 27 December 2014Source: The Borneo Post The Philippine central bank is allowing record Christmas remittances from overseas workers to give the

29-12-2014
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Diaspora remittances in relative increase, hit Sh10.2b in March

Your are here  » Home   » Business News Diaspora remittances in relative increase, hit Sh10.2b in March Updated Wednesday, May 14th 2014 at 21:43 GMT

16-05-2014
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Remittances up 6.9% in March

Personal remittances continued to rise in March, registering a 6.9-percent growth to $2.1 billion from a year ago due to robust remittance flows from

16-05-2014
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Recruiters: OFWs must be allowed to deposit foreign currencies

In a bid to address the weakening buying power of overseas Filipino workers (OFWs) and their families, the recruitment industry is now calling on the

28-04-2014
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Homeward bound

New data on the piles of cash Canadian immigrants send overseas raises questions about our aid policies

28-04-2014
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Why India remains top of remittances league

Indians working abroad continue to send more money home than their counterparts from other countries.

28-04-2014
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Cash Transfers: Merits and demerits

An unintended effect of cash transfers: bringing everyone into the banking fold much sooner than expected. True financial inclusion, however, is anoth

28-04-2014
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Bangladesh's current account surplus rises to nearly $1 bn

Propelled by merchandise export and inward remittances, Bangladesh's account balance recorded a surplus of nearly $1 billion in the first half of curr

28-04-2014
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OFW money helps boost business activity in hometowns

The money remitted by overseas Filipino workers could translate into potential investments for them and their loved ones in their rural hometown.

28-04-2014
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BofA ends free money transfers to sites in Mexico

Bank of America has quietly discontinued a program that allowed customers to transfer money to friends and family in Mexico for free.

28-04-2014
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Koreans Spent $4 Billion on Overseas Study Last Year

New figures show Koreans have spent a total of around US$4 billion per year on overseas study since 2006. The Bank of Korea said that this is 80 times

28-04-2014
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Civil society

Qatar 2022: Construction firms accused amid building boom

The 2022 Qatar World Cup is all about money. Claims that millions of dollars were paid in bribes to secure the world's biggest football tournament fo

24-12-2014
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The International Fund for Agricultural Development joins Better Than Cash Alliance to bring financial inclusion to rural communities

The International Fund for Agricultural Development (IFAD) is pleased to accept an invitation to join the Better than Cash Alliance (BTCA) in our shar

24-12-2014
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Migration: Global development'™s biggest good news story...almost

Migration is big news — it makes headlines when UK Prime Minister David Cameron proposes to limit immigrants’ access to tax credits, and it leads the

22-12-2014
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Migrant Women Lift Remittances

Even when times were tough, immigrant Silvia Navas says she never stopped sending money to her mother in Guatemala.

08-04-2014
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Africa: Somali Remittances - 10 Things You Need to Know

  In May 2013, Barclays announced that it would close the accounts of all but 19 of its 165 clients in the remittance transfer business. As HSBC and

21-02-2014
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Ethiopia/AU: Kenya hosts African Institute for Remittances

  The African Union (AU) Executive Council has accepted Kenya's offer to host the African Institute for Remittances (AIR), which is due to take off t

21-02-2014
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AU Commission in final phase of establishing African Institute for Remittances

The African Union Commission is in the final phase of establishing the "African Institute for Remittances", announced an AU official on Wednesday. In

21-02-2014
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Somalia turns to Diaspora for investment

  The Somali government has said it intends to tap into its Diaspora to invest in the war-ravaged country.Speaking to the Somali Diaspora community i

21-02-2014
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New Remittance Map Shows Where the Money Goes

  The Pew Research Center has built an interesting interactive map of remittance flows worldwide in 2012. International migrants sent $529 billion in

21-02-2014
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Somaliland: UK Int. Dev. Minister discusses development and remittances...

  Somalis from all over the UK met the Secretary of State for International Development to express their need to re-enable remittance payments into t

21-02-2014
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Virtual Forum

Latest comments
maiatikha@yahoo.com's Avatar
30 Jan 2015 22:30
Creating a roadmap for scale Nana, These are interesting insights. We are currently looking at developing crowd funding to raise funds for social enterprises in our target provinces. Can you share more details about how you went about doing the crowd funding. I think partnership and ...
Leon Isaacs's Avatar
30 Jan 2015 17:29
MTO Bank Account Closures Yes, thanks to Carlo and Massimo for this one - we know you guys are really trying to solve this.
sarah.hugo's Avatar
29 Jan 2015 12:03
Framing a relationship & Taking to Scale Thank you Manuel for your comments. I was wondering whether you, or anyone else, have any preferences as to how the financial education should be delivered to migrants / their families - what works and what doesn't in different situations? The pilots that...
Marco van Andel's Avatar
29 Jan 2015 11:05
Changing Landscape Dear Virtual Forum participants, welcome in the changing landscape of money transfers In the past 5 years, much changed, but I would say that this will remain insignificant compared with what is to come in the coming 5 years. This Virtual Forum, ahead of the...
sarah.hugo's Avatar
12 Jan 2015 17:49
Industry Choking Billions out of Developing World? Open for discussion: Lowering the Cost of Remittances – Is the Global Remittance Industry Choking Billions out of the Developing World? Background: In 2014 it was reported in a UK newspaper that “a handful of firms are exerting a stranglehold over...
Super User's Avatar
17 Jul 2014 13:43
Why the initiative? Recent researches conducted by IFAD and the WB have illustrated that remittances to and within Africa are the most expensive in the world.
Admin's Avatar
24 Feb 2014 11:18
Welcome to Kunena! Welcome to Kunena Thank you for choosing Kunena for your community forum needs in Joomla. Kunena, translated from Swahili meaning “to speak”, is built by a team of open source professionals with the goal of providing a top quality, tightly unified...

Featured articles

The Post Office Banks on the Poor

ATHENS, Ga. — PEOPLE like to complain about banks popping up like Starbucks on every corner these days. But in poor neighborhoods, the phenomenon is q

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Zimbabwe: Diaspora remittances in decline

Remittances by Zimbabweans in the Diaspora sent through money transfer agencies and formal banking channels declined by 15 percent last year to $1.8 b

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New Remittance Map Shows Where the Money Goes

  The Pew Research Center has built an interesting interactive map of remittance flows worldwide in 2012. International migrants sent $529 billion in

Read more »
Ethiopia/AU: Kenya hosts African Institute for Remittances

  The African Union (AU) Executive Council has accepted Kenya's offer to host the African Institute for Remittances (AIR), which is due to take off t

Read more »
Somalia turns to Diaspora for investment

  The Somali government has said it intends to tap into its Diaspora to invest in the war-ravaged country.Speaking to the Somali Diaspora community i

Read more »
Peru received $2.7 bn in remittances during 2013

Last year Peru received $2.7 billion in remittances, a figure that represents a 2.9 percent drop compared with 2012, the central reserve bank said in

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Migrants sent less money back to Mexico in 2013

Mexico's central bank says the amount of money Mexican migrant workers sent home to their families fell by 3.75 percent in 2013, as compared to the pr

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AU Commission in final phase of establishing African Institute for Remittances

The African Union Commission is in the final phase of establishing the "African Institute for Remittances", announced an AU official on Wednesday. In

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IFAD tender on baseline research in 11 African countries

The International Fund for Agricultural Development (IFAD) based in Rome Italy, has recently published a Request for Proposal on the United Nations Gl

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Ethiopia/AU: Kenya hosts African Institute for Remittances

  The African Union (AU) Executive Council has accepted Kenya's offer to host the African Institute for Remittances (AIR), which is due to take off t

Read more »

Development community

  • International Financial Institutions
  • Migration 4 Development

The International Fund for Agricultural Development (IFAD) is , a specialized agency of the United Nations, was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference. http://www.ifad.org 

The Consultative Group to Assist the Poor (CGAP) CGAP develops innovative solutions through practical research and active engagement with financial service providers, policy makers, and funders to enable approaches at scale. Housed at the World Bank. http://www.globalmigrationgroup.org

The World Bank is one of the world’s largest sources of funding and knowledge to support governments of member countries in their efforts to invest in schools and health centers, provide water and electricity, fight disease and protect the environment. http://www.worldbank.org/


The EU's executive body and represents the interests of Europe as a whole (as opposed to the interests of individual countries). http://ec.europa.eu/index_en.htm

The Multilateral Investment Fund (MIF), The Multilateral Investment Fund (MIF) supports economic growth and poverty reduction in Latin America and the Caribbean through the promotion of private investment and promoting private sector development. http://www.fomin.org

The Ministry of Foreign Affairs and Cooperation plans, directs, implements and assesses Spain's foreign policy and development cooperation policy, following the Government's guidelines and applying the principle of unity of external action. http://www.exteriores.gob.es/Portal/en/Ministerio/Paginas/inicio.aspx 

The Inter-American Development Bank (IDB) lends directly to Latin-American, Central America, South American and Caribbean countries for infrastructure and civil society projects. http://www.iadb.org/en/inter-american-development-bank,2837.html

The government consists of a president, with the title of Prime Minister and several members with the title of Minister. It may also include one or more members with the title of Minister or Secretary of State. https://www.gouvernement.lu/

KNOMADThe Global Knowledge Partnership on Migration and Development (KNOMAD) is envisaged to be a global hub of knowledge and policy expertise on migration and development issues.
http://www.knomad.org

 

GMGThe Global Migration Group (GMG) is an inter-agency group bringing together heads of 16 agencies for more coherent, comprehensive and better coordinated approaches to the issue of international migration. On the GMG website links to all individual agencies can be found.
http://www.globalmigrationgroup.org

 

JMDIThe Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making. Its membership comprises 19 countries plus the European Union. Each G20 president invites several guest countries each year. https://www.g20.org/about_G20

 

GFMDThe Global Forum on Migration & Development in line with the September 2006 report from the UN-GA High Level Dialogue on Migration and Development (HLD) and the GFMD Operating Modalities endorsed in Brussels in 2007, the GFMD is a voluntary, informal, non-binding and government-led process open to all States Members and Observers of the United Nations, - See more at:  http://www.gfmd.org/process#sthash.UBcNZKgR.dpuf.

 

Global Forum 2015

Useful information

  Registration    is free of charge, and you are all most welcome to participate. However, due to space availability and quotas by instit

29-11-2014
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Programme GFRD2015

PUBLIC SECTOR DAY - 16 JUNE THE REMITTANCES MARKET PLACE  Running parallel to the forum, the Remittances Marketplace will allow priv

26-11-2014
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About the GFRD2015

The Global Forum on Remittances and Development (GFRD) 2015 will be held in Milan on 16-19 June, in conjunction with the Universal Exposition EXPO20

26-11-2014
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Expo Milano 2015 Participants

Expo Milano 2015 is a global event characterized by its nature of uniting many different voices, basing its success on the involvement of all the vari

24-06-2014
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Global Forum on Remittances Development

More info on the GFR2014 page About the Forum The Global Forum on Remittances 2013 is the fourth in a series of groundbreaking fora dedicated to hig

28-05-2014
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Recent Posts

About the Gateway

The RemittancesGateway portal is a one-stop shop providing the latest news, events, publications, information and statistical data from a broad range of institutions, partners and stakeholders on the subject of remittances, migration and development. The Gateway is a fully interactive website that targets industry, private and public sectors, civil society actors and the development community. Besides sharing information, the portal is a virtual forum for discussion among remittance experts and stakeholders, and an institutionally neutral platform for continuous dialogue.

Virtual forum

  • maiatikha@yahoo.com's Avatar
    Nana, These are interesting insights. We are currently looking at developing crowd funding to raise funds for social enterprises in our target provinces. Can you share more details about how you went about doing the crowd funding. I think...
  • Leon Isaacs's Avatar
    30 Jan 2015 17:29
    Yes, thanks to Carlo and Massimo for this one - we know you guys are really trying to solve this.
  • sarah.hugo's Avatar
    Thank you Manuel for your comments. I was wondering whether you, or anyone else, have any preferences as to how the financial education should be delivered to migrants / their families - what works and what doesn't in different situations? The...
  • Marco van Andel's Avatar
    29 Jan 2015 11:05
    Dear Virtual Forum participants, welcome in the changing landscape of money transfers In the past 5 years, much changed, but I would say that this will remain insignificant compared with what is to come in the coming 5 years. This Virtual Forum,...
  • sarah.hugo's Avatar
    Open for discussion: Lowering the Cost of Remittances – Is the Global Remittance Industry Choking Billions out of the Developing World? Background: In 2014 it was reported in a UK newspaper that “a handful of firms are exerting a...
  • Super User's Avatar
    17 Jul 2014 13:43
    Recent researches conducted by IFAD and the WB have illustrated that remittances to and within Africa are the most expensive in the world.

Contacts

Remittances Gateway Team
Via Paolo di Dono, 44
email: remittances@ifad.org
tel. +39 0654592311

Quotes

"Deepen the range of financial services provided in rural areas"
J. Doe
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