International Day of Family Remittances

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.

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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 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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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 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.

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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 As HSBC and other UK banks had already substantially withdrawn from the sector, the effect of Barclays’ decision was magnified.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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