Remittances Gateway
On 16 February, the 176 member states of the Governing Council of IFAD, unanimously declared 16 June the INTERNATIONAL DAY OF FAMILY REMITTANCES.
Objective of this observance is to recognize and raise global awareness of the fundamental contribution made by migrant workers to the wellbeing of their families and communities back home, and to the sustainable development of their countries of origin.
by USAID Press Office, January 26, 2015.
President Barack Obama announced today in New Delhi a new partnership among the U.S. Agency for International Development (USAID), Calvert Foundation and several private financial institutions in India to develop an Indian Diaspora Investment Initiative.
#IFundFoodNotTerror is calling out punitive antiterrorism regulations that pressure banks to discontinue wire transfers to Somalia.
Source: Takepart
February 11, 2015 By Melissa Catelli
Even when times were tough, immigrant Silvia Navas says she never stopped sending money to her mother in Guatemala.
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The Pew Research Center has built an interesting interactive map of remittance flows worldwide in 2012. International migrants sent $529 billion in remittances alone last year. […]
The United States accounts for nearly a quarter of all the remittances sent in 2012, with $123.3 billion flowing out of the country. The top recipient countries of these remittances were Mexico ($22 billion),China ($13 billion), and India ($12 billion)
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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 in Kampala yesterday, Mr Abulkadir Kamtir, the director in the Office of Diaspora Affairs, said their investments will be protected.
The African Union Commission is in the final phase of establishing the “African Institute for Remittances”, announced an AU official on Wednesday.
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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 this year and become fully operational in 2015, the AU Commission (AUC) said here Monday.
Following the acceptance of the offer, the Council – at its recent meeting here – requested the AUC to conclude the Host Agreement with Kenya and requested the World Bank and other development partners to support the Institute.
Read more 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 other UK banks had already substantially withdrawn from the sector, the effect of Barclays’ decision was magnified. With very few exceptions, remittance transfer companies have found it impossible to secure banking facilities elsewhere – a prerequisite for the continued operation and regulatory compliance of larger ones.
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Somalis from all over the UK met the Secretary of State for International Development to express their need to re-enable remittance payments into their home country. Secretary of State for International Development Justine Greening met members of the UK’s Somali community to discuss Britain’s aid and development programmes.
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