BANGLADESH: Bank Asia signs MoU with Post Office

Diaspora Journey: The greater role of postal banks as remittance distribution channels is increasing. Kenya is already providing domestic and interstate remittance services. In 2010, Philippine Postal Corp. announced that most overseas Filipino workers (OFWs) can already send their remittances to their families in the country in seconds, and with cheaper rate compared with other remittance centers. The remittance service is envisioned to cater to both domestic transfer and international remittances.
Bangladesh is the latest initiative of governments to improve channeling of remittances.

Bank Asia Limited has signed a Memorandum of Understanding (MoU) with Bangladesh Post Office recently in the city.

Erfanuddin Ahmed, President and Managing Director of Bank Asia and Mobasherur Rahman, Director General of Bangladesh Post Office signed the MoU on behalf of their respective organizations.

Under the agreement, Bank Asia will be using designated outlets of Bangladesh Post Office to channellize remittance payments electronically. It may be mentioned here that Bank Asia Limited has arrangements with more than 20 exchange houses and remittance focused organizations spread allover the world and channellizing remittances through more than 1500 locations within Bangladesh.

Bangladesh Post Office is on the threshold of launching electronic money order and fund transfer services and has in the process signed MoUs with several banks. This joint venture will enhance remittance through authorized and legal channels and boost the economy further efficiently.

JAMAICA: Capital and Credit, Xoom in money-transfer alliance

Capital and Credit's remittance operation Reggae Money Express has formed an alliance with Xoom Corporation, an Internet-based global money transfer company operating from the United States.

The Reggae Money Express-Xoom.com partnership will allow customers to send money from a credit card
or chequing account to Jamaica from any Internet-enabled computer, the Jamaican company said Wednesday.

The details of the deal were not disclosed.

services offered

Reggae Money Express offers cash pick-up at some 70 sub-agents in the island, deposits to accounts held at any financial institution, bill payments
, as well as mortgage and other loan payments.

Under the new Xoom facility, when paying from a chequing account, the cost to transfer money to Jamaica, in amounts up to US$2,999, will be US$7.99. Read more

PAKISTAN: Risk of Gulf remittances falling: World Bank

ISLAMABAD: The recent debt payment problems of the Dubai World could lead to tightening of credit in the region, pointing to downside risks for South Asian migrants, working in the Gulf and reduced flow of remittances to their home countries, World Bank says in its latest report.

‘Should a significant portion of the stock of expatriate workers return home with accumulated savings due to downturn in the Gulf, near-term remittances inflow may likely rise,’ according to ‘Global Economic Prospects 2010: Crisis, Finance and Growth in Developing Countries.’

The debt payment problems suggest economic activity in the Arabian Gulf economies could surprise on the downside in the event of protracted problems, it says.

The report says remittances inflows – which provided a cushion for the region – could fail to recover in the event of a prolonged global recession or a jobless economic recovery, potentially coupled with tighter immigration controls.
Read more

Nigerians in diaspora remit $1.7billion annually

By Peter DURU, Makurdi
Professor Toyin Falola of the University of Texas, United States of America has disclosed that Nigerians in diaspora remit over $1.7billion annually to boost the nation’s economy.
He disclosed that these remittances were to family members and friends in the country, advising that the nation tapped into this foreign exchange source to stimulate development in the country.

Delivering a paper at a public lecture organised by the History Department of Benue State University, Makurdi, titled “Citizens at home, citizens abroad and the globalization of knowledge”, the don noted that the huge transfers could be translated to tangible developments for the teeming populace.

Professor Falola, who was invested with the Julius Nyerere Professorial chair of Modern African History by the Vice Chancellor of Benue State University, Professor Paul Akase Sorkaa, described himself as a Structural Adjustment Programme SAP Diasporan.

Moroccan policy-makers claim progress despite global slump

A bruised but battling Morocco has used competitiveness-boosting measures to fight through the global financial crisis, a government oversight committee concluded this week.

"The measures taken to tackle the crisis have mitigated the downturn witnessed since the end of 2008 and beginning of 2009," Finance Minister Salaheddine Mezouar, who heads the Strategic Monitoring Committee created in February to manage the crisis, told Magharebia on Tuesday (December 15th).

Morocco's recession has slowed in recent months, as the rate of contraction of critical sectors has decelerated. The most encouraging signs are in the two largest sources of foreign income: tourism and remittances. Tourism contracted by only -8.1% in October, compared with -21.6% in March, while in the same two months, remittances declined by only -7.7% as compared to -14.6%. Read more

Nepal: Migration and Development in South Asia

Dev Raj Dahal
Head, FES Nepal

Introduction: The new globalization reflects unorganized movement of workers while 19th century globalization was better organized as the states did not restrict the movement of workers. Now almost 3 percent of world's workers are on move. Though the state rules prevent the migration of workers but fosters the process of the globalization of capital, technology, knowledge and marketable goods. Developed countries demand more skilled workers which are in short supply in developing countries while the Gulf region and fastest growing economies demand all types of migrants. Brain drain has also reduced the stock of the nation's human capital and created development gap between the two where the developed countries defines the rules of game while developing countries have to adjust. Due to concentration of power and resources in urban notes there is a mass migration of people from rural to urban areas and even out migration. This is integrating various peoples into monoculture or mass civilization. Read more

SRI LANKA: Marked increase in foreign remittances

Despite the global economic meltdown foreign remittances have shown a significant increase and diversification.

Foreign remittances from countries such as Japan, Korea, Malaysia, Europe and North America recorded a higher growth during the year, a senior official of the Central Bank told Daily News Business.

He said that these remittances were mainly from expatriate Sri Lankans working in Middle East countries, which accounts for 60 percent of the total remittances, while 20 percent was remitted by Sri Lankan expatriates in Europe.

The other remittances were from North America and the Far East. This indicates a slight decline in remittances from Middle East countries, while there is a growth in the percentage from countries such as Japan, Korea, Malaysia, Europe and North America.

The Central Bank did not anticipate a higher growth in foreign exchange earnings during the year as many employees lost their jobs due to the global recession. Gross foreign remittances during the first nine months of the year were US$ 2,481.4 million, a growth of 10.3 percent compared to 2008.

The Central Bank targets US$ 3 billion in foreign exchange earnings this year and it is confident that they could achieve this goal, he said. Read more

BANGLADESH: Stop harassment of overseas job seekers

President Zillur Rahman yesterday urged the expatriate welfare and overseas employment ministry for immediate special action to stop harassment of the Bangladeshis going abroad for employment.

"Bangladeshi job seekers abroad fell victims of harassment and various deceits and are often compelled to lead miserable life by losing everything," he said at a function at the Osmani Memorial Auditorium on the occasion of International Immigrants Day.

The function was organised by expatriate welfare and overseas employment ministry with its Minister Khandaker Mosharraf Hossain in the chair.

Zillur hoped that besides the government, different institutions and individuals who are involved with the sector should play a responsible role to protect the interests of the overseas job seekers. Read more

Iranian postal company’s reps to cover in Baku exchange of electronic remittances with Azerbaijan

Baku, Fineko/abc.az. Specialists of Iran’s postal company will arrive in Azerbaijan on December 20-22 of current year.

The Ministry of Communications & Information Technologies (MCIT) informs that during the visit the guests will discuss a number of issues with the specialists of the MCIT and Azerpocht LLC.

“At the suggestion of Azerbaijani side, the agenda of the meeting includes a wide range of issues such as sending of international mail in transit between the two countries, exchange of electronic remittances, creating conditions for the delivery of international terrestrial mail from the territory of Iran to Nakhchivan Autonomus Republic, issuance of joint postage stamp dedicated to the theme of ecology of the Caspian Sea and others,” the Ministry says.

These activities are carried out within provisions of the Memorandum of Understanding on cooperation in the postal sphere between the Ministry of Communications and Information Technologies of Azerbaijan and Iranian Ministry of Information and Communication Technologies, signed on March 10, 2009 in Tehran during this March’s visit of Azerbaijani President Ilham Aliyev to Iran.

In this respect, working groups have been established in postal agencies of both countries and it is planned to hold regular meetings between experts of postal areas in both countries to implement activities stipulated in the document.

Source

ANGOLA: Angola: New study highlighting remittances in Angola calls for measures to enhance their development impact

Source: International Organization for Migration (IOM)

Date: 18 Dec 2009


With remittances crucial to family welfare and food security in Angola, a new IOM study argues the need to do more to build links with the Angolan diaspora and to lower remittance costs in order to maximize the developmental impact of remittances in the country.

The study, "Migrant Remittance Flows to Angola from Portugal and South Africa, and their Current Use and Impact on Receiving Households", released today in the Angolan capital, Luanda, also calls for continued efforts to facilitate investment in the Southern African country.

Interviews with 404 remittance-receiving family heads in Angola and 423 remittance sending migrants in Portugal and South Africa revealed that only 14 per cent of respondents used a portion of remittances for business purposes and even fewer, one percent, for investment in agricultural activities. Read more

JAMAICA: The love keeps coming home - Remittances increase despite recession

Despite the economic challenges this year, many Jamaicans are still expected to make that journey to spend Christmas on the rock. Those who can't make it home are still expected to send money for relatives.

According to GraceKennedy Money Services (GKMS) operators of Western Union, while the amount of money people send has decreased, the number of transactions has gone up by five per cent.

GKMS managing director Joan-Marie Powell said although persons complain that remittances are down, Jamaicans overseas continue to take care of their families.

"Persons who used to send US$100 may send $80 or $50, but the fact is they're still sending. In fact, the number of transactions has actually increased by about five per cent, as people send a little less, but more often," she notes. Read more

Rwanda: Engaging the Diaspora as Force for Dev't

Kigali — Rwandans in the Diaspora are meeting in Kigali to map out strategies on how they can better serve their country. As this important group of Rwandans meet, the Central Bank has given them the green light to set up the Rwanda Diaspora Mutual Fund to mobilize resources for investing in various sectors of their interest within the country.

The Rwandan Diaspora is increasingly becoming an important sector of our society, contributing immensely to the development on this country. Last year, remittances from this group rose to $175 million up from $139 million that was recorded a year before.

The figures are expected to rise this year, despite the on-going global financial crisis. Read More

PHILIPPINES: Remittances hit record $1.5B in October

Highest monthly figure bringstotal to $14.3B
By Michelle Remo
Philippine Daily Inquirer
First Posted 22:07:00 12/15/2009

Filed Under: Remittances, Overseas Employment

MANILA, Philippines - Remittances sent to the Philippines reached $1.5 billion in October, the highest monthly record to date, due to the sustained global demand for Filipino labor and moves of OFWs to send more money to families affected by the recent calamities.

The October figure was 6.7-percent higher than the level in the same month last year and brought total remittances for the first 10 months of the year to $14.3 billion, up 4.5 percent from a year ago.

“The continued deployment of Filipino workers abroad, particularly skilled and higher-paid workers, has provided support to the steady flow of remittances over the 10-month period,” said Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas. Read more

Is a US Brain Drain on the Horizon?

BERKELEY, CALIFORNIA: At a recent meeting of young technologists in Silicon Valley, I polled a room full of Indian techies about their future plans. It was an ad hoc exercise but when I asked how many of them planned to return home to India to work in the near future, I was amazed that over 50 percent of the people raised their hands. That dynamic is also playing out on a world stage as the great nations of the world battle for the brains that will spur their economies. During his recent trip to the US Indian Prime Minister Manmohan Singh said he welcomed Indians to return home. India also unveiled a policy that would allow Indians to hold multiple citizenships to allow them to access the incentive benefits of Indian nationals without giving up their US citizenship. China, too, has mounted campaigns and offered incentives to bring back business people, technologists and entrepreneurs who were living overseas. Ironically, this trend has been growing at a time when the crisis-hit United States is facing pressure to discourage immigration by foreigners with skills. Read more

BANGLADESH: Recruiting, money transfer agents asked to ensure safe investment of remittances

Recruiting and money transferring agencies must play a role in ensuring safe and secure investment of remittances from their corporate social responsibility (CSR) point of view, speakers told a seminar here yesterday.

The agencies earn billions of dollars from migrant workers but do nothing for protection of their rights and their family members, they pointed out at the seminar marking the International Human Rights Day.

Chairman of the Parliamentary Standing Committee on Ministry of Labour and Employment M Israfil Alam was the chief guest at the seminar on 'Protection of the Rights of Migrant Remitters and their Family' held at Jatiya Press Club.

WARBE Development Foundation (WDB), an NGO working for the migration workers' rights, organised the event in cooperation with International Network of Alternative Financial Institutions (INAFI) and Ovibashi Karma Unnayan Program (OKAF).

WDB Chairman Syed Saiful Haque chaired the seminar, addressed as special guests by President of Bangladesh Association of International Recruiting Agencies (BAIRA) Ghulam Mustafa, Director of Bureau of Manpower, Employment and Training (BMET) Dr Nurul Islam and Project Manager (remittances) of INAFI M Rashed Al Hasan.

Read more

INDIA: Citi Partners With India Post For Remittances Solution

Citi has entered into a landmark partnership with the Department of Posts, Government of India (India Post) to enhance its recently launched MO Videsh remittance product. This international remittance service is powered by Citi’s WorldLink payment services and provides India Post the ability to send payments in over 130 currencies globally through their existing Eurogiro payments platform.

Under the partnership, India Post will provide global remittance services to its customers in over 800 head post offices across the country within three months. India Post plans to extend the service to over 8,000 post offices nationwide within one year.

This deal is significant for both Citi and India Post leveraging the Citi and Eurogiro partnership to provide India Post with the widest number of currencies globally. Read more

NEW ZEALAND: NZ programme aims at helping with remittances

Diaspora Journey: Financial Literacy for remittance senders and receivers is very vital. Here is one innovative approach to educate people on how to manage their hard-earned income for their own benefit

.


The New Zealand Pacific Remittances project has produced a calendar with a different financial tip for Pacific consumers each month.

The Project Manager, Kim Hailwood, says it is the first step in a pilot programme to help people become more financially aware and to save money.

The project team has the support of the Ministry of Pacific Island Affairs, the Reserve Bank, the World Bank, NZAID and the Pacific Cooperation Foundation.

Ms Hailwood says people sending remittances learn how to save extra transaction fees.

“The whole purpose of the calender was to create awareness, and we originally thought about doing a sheet, a financial literacy tips sheet. But then people get a piece of paper, read it and then throw it out. But with a calendar its on the wall for twelve months, and each month there is a new financial literacy tip. And it’s in English, Samoan and Tongan.”

Kim Hailwood says copies of the 2010 calendars have been sent out to community groups nationwide as well as to Samoa and Tonga.

News Content © Radio New Zealand International
PO Box 123, Wellington, New Zealand

Source:

Kiribati appeals for jobs abroad to save islanders

COPENHAGEN, Denmark—The remote Pacific nation of Kiribati has appealed to rich nations to give training and jobs to its people, fearing its very existence is at risk if the low-lying atolls are swamped by rising seas.

Foreign Secretary Tessie Eria Lambourne said Kiribati, whose islands lie just two meters (about six feet) above sea-level on average, was in imminent danger from global warming.

She proposed expanding a scheme already in place in Australia and New Zealand, where people from Kiribati are trained as nurses and given the option to work and settle there. Read more

Kidnap-prone Filipino seafarers keep remittances afloat at $2.5 billion

Amid the threat of kidnappings in the high seas, Filipino seafarers remitted a record $2.502 billion from January to September this year, the Trade Union of the Philippines (TUCP) said.

The increase in remittances is attributed to the rising enlistment of Filipinos in the world’s ships, TUCP secretary-general Ernesto Herrera said Tuesday.

“Foreign employers find Filipino sailors quick learners, and easier to train compared to other nationals," Herrera added.

According to him, several European and Asian shipping firms have disbanded their multinational crews to replace them with all-Filipino personnel. Read more

First session of Overseas Pakistanis Forum: Overseas Pakistanis extend full support to Pakistan's challenges

DUBAI: The first session of Overseas Pakistanis Forum, organised by Pakistan's Ambassador at large Javed Malik and chaired by Federal Minister for overseas Pakistanis Dr Farooq Sattar concluded here on a high note with the overseas Pakistani community expressing their full support to their homeland in these challenging times.

Delegates from UAE and some middle-eastern countries also took part.

"The forum provided a platform for the overseas Pakistanis in the region to directly interact with the decision makers, and therefore we invited the federal minister for overseas Pakistanis to listen to their issues," explained Malik who is leading this effort.

Presidents of all Pakistani associations and business councils in the UAE were represented in the forum and took part in the interaction. The forum started with a presentation by Malik in which he highlighted the issues being faced by overseas Pakistanis. He was critical of the fact that successive governments have wrongly stereotyped the role of overseas Pakistanis only as workers who can simply send remittances. This is not all that they are capable of doing, times have changed and Pakistanis living abroad have acquired positions of affluence and influence, they have gained skills, professional training and resources and many other features in the most influential and rich list of their host countries. All of them are keen to play a role in supporting their country, but there is no framework that allows them to do this. Read more

ZIMBABWE: Diasporans oiled the ZANU-PF machine: Mafa

By Hakuna Musina in Mashonaland West, Zimbabwe

Zanu-PF has shamelessly admitted that it survived and managed to stay in power because of finances remitted by Zimbabweans living in the diaspora as it emerged that diasporans remitted US$1 billion in 2008 alone.

Speaking at a consultative meeting which is a build-up to the party's congress next week, Zanu PF Mashonaland West Chairperson John Mafa revealed that the ZANU-PF killing machine which was on the brink of total collapse at some point, was in fact oiled by the diasporans.

The disaporans did not intend doing so, but through strict foreign currency regulatory laws introduced by the troubled Mugabe government from 2004 meant that every penny sent by a Zimbabwean from abraod, the government would get a share. In the process when the whole world was squezzing the dictator, Mugabe turned to the same people whom he used to chastise for doing minimal jobs in England - if it was not for these Zimbabweans, Mugabe would be history today. Read more

SRI LANKA: Nearly SLR 2 billion deposited by Tamil refugees

``Many of the displaced had come to the camps with cash strapped to their arms and legs. Forty feet containers were transformed into mobile banks so that the people could deposit the money and valuables. Telecommunication facilities were also given so that they could get remittances from relatives abroad,’’ governor of Central Bank of Sri Lanka, Ajith N Cabraal, told HT.

``As more Tamils get resettled, we expect that remittances they have been getting from abroad would also increase,’’ Cabraal said. He added that in a recent meeting in Jaffna, commercial banks in the five districts of the northern province – large parts of which were under the Liberation Tigers of Tamil Eelam (LTTE) – were instructed to release about SLR 1 billion this month in small loans to help Tamils resettle. Seven other financial schemes for the resettled were also being implemented. Read more

MINDIA: Migrant workers from India are going to be hit real hard by the Dubai debacle

A sudden halt to Dubai's real estate boom has come with the country's defaults on huge debts to global creditors. It has flustered the confidence of the investors across the Gulf region. The government of Dubai on November 25, 2009 said that it would ask all creditors of Dubai World and Nakheel to "standstill" and extend their loan agreements by six months. This revelation sent shock waves to the Sensex world. Stock exchanges all over the world tumbled after this, including Bombay Stock Exchange.

Dubai World is a large government-owned corporation with an enormous portfolio, ranging from interests in ports to property and diamonds, involving thousands of workers and professionals. Its most well-known companies are Dubai Ports World, one of the largest owners of ports in the world, and Nakheel, a property developer that created the swanky The Palm Islands, The World and The Waterfront for the super rich. Also an Islamic bond, known as sukuk, with a face value of $3.52 billion is due to come on December 14. Read more

BANGLADESH: Utilizing remittances and reserve productively

A sound foreign currency reserve is the desired macro-economic objective of all countries. For, a good reserve helps to underwrite a country's economic viability by creating assurances of smooth conduct of its foreign trade. It has been always considered that a country must have a reserve position to be able to pay for its expected imported operations for a minimum reasonable period of time, let us say three to four months. This margin is considered the lowest limit, falling below which level may invite macro-economic instability. The current reserve of Bangladesh, $10.5 billion, should be enough to support the country's import activities for about two to six months. Thus, the present size of the reserve can be a sort of satisfaction for managers of the economy. Read more

Kenyan remittances slip in October to $53 mln

NAIROBI (Reuters) - The amount of money sent home by Kenyans abroad fell to $53.04 million in October from $53.35 million the month before and the central bank said on Monday that cumulative remittances had dropped 4 percent this year.

Remittances are the third-biggest source of foreign exchange for east Africa's biggest economy, following agricultural exports and tourism.

Kenyans sent home $504.60 million over January-October compared with $527.14 million over the same period last year, but up from $476.66 million in first 10 months of 2007.

Remittances in 2008 totalled a record $611 million, which the central bank says was as a result of Kenyans in the diaspora responding to cushion relatives against the multiple shocks of drought-induced inflation and post-election violence. Read more

PHILIPPINES: Debt Crisis Could Halve Remittances Of Filipino Workers In Dubai

Manila, Philippines (AHN) - The Trade Union Congress of the Philippines warns of a substantial cut in remittances from Filipino workers in Dubai due to the debt crisis being faced by the city. OFWs in the United Arab Emirates send home yearly $632 million, which is one-fourth of all remittances from Filipino workers in the Middle East.

TUCP Secretary General Ernesto Herrera said all Dubai state-owned companies will likely cut their jobs. Similar moves are expected from construction, real estate, financial services, retail, trade and travel and tourism firms, which employ thousands of Filipino workers.

For the first nine months of 2009, OFWs in UAE sent home $431.4 million, according to data from the Bangko Sentral ng Pilipinas. It is already down by one percent compared to the same period last year and may likely go plummet further as Dubai's debt crisis deepen. Read more

PHILIPPINES: Dubai-crisis-could-cost-RP-300M-in-remittances

MANILA, Philippines—The Philippines could lose as much as $300 million worth of remittances from Filipino workers based in Dubai due to the debt woes of Dubai World, one of the flagship holding firms of the United Arab Emirates (UAE), the Trade Union Congress of the Philippines (TUCP) said.

"If the labor department’s projection is accurate—that as many as 200,000 Filipino workers there might be adversely affected—then we risk losing one-half of all remittances from Dubai on an annual basis," said TUCP secretary-general and former senator Ernesto Herrera in a statement.

"All of Dubai’s state-owned companies, the biggest employers there, will surely be forced to restructure, mainly through job cuts," said Herrera, former chairman of the Senate committee on labor, employment, and human resources development. Read more

BANGLADESH: Fat Remittanc May Prove Bane to Economy

Financial analysts said rising remittances to Bangladesh should be invested in the productive sector to avert inflation and spur economic growth.

They said the idle foreign exchange in the banks could spur inflation and raise import of luxury goods, which would affect the country's macro-economy badly.

The non-resident Bangladeshis (NRBs) and workers have remitted over US$1.0 billion in November-- the highest monthly inflow recorded, central bank statistics said.

Read more

Dubai crisis not to largely impact UAE remittance outflow: IMF

WASHINGTON/NEW DELHI: The International Monetary Fund has said the Dubai debt crisis will not have a large impact on the flow of remittance out
of the United Arab Emirates.

The UAE accounts for nearly 13 per cent of the total remittance flow into India, with as many as 42 per cent of the 1.5 million population of Dubai being Indians.

Noting that remittance worth USD 10 billion go out of the UAE, a top IMF official has said the Dubai crisis might have some effect on those outflows.

"... I think it's important to recognise that while there may be a slowing down in Dubai, Abu Dhabi continues to grow rapidly, as do other countries in the Gulf Cooperation Council (GCC). So the net effect in terms of remittances out of the region may not be as large," Masood Ahmed, Director of IMF's Middle East and Central Asia Department said on Wednesday. Read more

Dubai faces gradual exodus of migrant workers

y W.G. Dunlop
Agence France-Presse First Posted 12:35:00 12/06/2009 Filed Under: World Financial Crisis, Economy and Business and Finance, Overseas Employment

DUBAI, United Arab Emirates—Construction worker Bilal is in a happy mood as he takes his lunch break sitting next to an artificial lake near Dubai's showpiece Mall of the Emirates.

But he admits anxiety about the end of his contract in one year's time, when the 24-year-old may have to return to Bangladesh.

The shock news of Dubai's debt crisis is not expected to spark an immediate surge in redundancies in the once-booming desert metropolis, but a gradual exodus is likely as workers' contracts expire and the lack of new projects means they are unable to find new jobs. Read more

E-consultation on Migration and Rural development in ACP countries

ANNOUNCEMENT


E-consultation on Migration and Rural development in ACP countries

It is increasingly recognized that migrants constitute an invaluable resource for development in their home countries. For many developing countries, remittances from overseas migrants exceed development aid and foreign direct investment volumes. But how does migration affect African, Caribbean and Pacific (ACP) rural development?

The Technical Centre for Agricultural and Rural Cooperation (CTA) started discussing this issue during the Brussels Development Briefing on “How does international migration affect ACP rural development?” last 11th December 2008. As a follow up to this event, CTA will coordinate an electronic discussion on “Key challenges on Migration and Rural development for ACP countries”, from mid-November 2009 to February 2010. Key themes such as remittance flows and their contribution to rural development and the role of migrants and Diaspora groups in rural development will be addressed. The discussion will be held in French and English with translation provided by the organisers.

For more information or to register for the e-consultation kindly contact Mrs Leila Rispens-Noel (leila.wimler@gmail.com), coordinator of the e-consultation, or Mrs Isolina Boto (boto@cta.int).

About CTA - Technical Centre for Agricultural and Rural Cooperation

The Technical Centre for Agricultural and Rural Cooperation (CTA) was established in 1983 under the Lomé Convention between the ACP (African, Caribbean and Pacific) Group of States and the European Union Member States. Since 2000, it has operated within the framework of the ACP-EC Cotonou Agreement. CTA’s tasks are to develop and provide services that improve access to information for agricultural and rural development, and to strengthen the capacity of ACP countries to produce, acquire, exchange and utilise information in this area. CTA is based in Wageningen, The Netherlands, and has a branch office in Brussels.

Web links:
CTA website: www.cta.int
CTA Brussels weblog: http://brussels.cta.int/
Brussels Development Briefings: http://brusselsbriefings.net/


Discussion électronique sur la migration et le développement rural pour les pays ACP

Il est de plus en plus accepté que les migrants constituent une source inestimable de développement dans leurs pays d'origine. Pour de nombreux pays en développement, les transferts de fonds de migrants installés à l’étranger surpassent l’aide au développement et l’investissement direct étranger. Mais dans quelle manière la migration affecte-t-elle le développement rural des pays ACP (Afrique, Caraïbes, Pacifique)?

Le Centre technique de coopération agricole et rurale (CTA) a commencé à examiner cette question lors du Briefing de Bruxelles sur le développement sur “Comment la migration internationale affecte-t-elle le développement rural ACP?”, tenu le 11 décembre 2008. En tant qu’activité de suivi au briefing, le CTA va coordonner une discussion électronique sur “Les défis clés en matière de migration et développement rural pour les pays ACP”, de mi-novembre 2009 à février 2010. Certains thèmes clés, tels que les transferts des migrants et leur contribution au développement rural et le rôle des migrants et des groupes de diasporas dans le développement rural seront discutés. La discussion se déroulera en français et en anglais, avec la traduction des contributions assurée par les organisateurs.


Pour de plus amples renseignements ou pour s’enregistrer à la consultation, veuillez contacter Mme Leila Rispens-Noel (leila.wimler@gmail.com), coordinatrice de la consultation, ou Mme Isolina Boto (boto@cta.int).

A propos du CTA - Centre technique de coopération agricole et rurale

Le Centre technique de coopération agricole et rurale (CTA) a été créé en 1983 dans le cadre de la Convention de Lomé entre les États du groupe ACP (Afrique, Caraïbes, Pacifique) et les pays membres de l'Union européenne. Depuis 2000, le CTA exerce ses activités dans le cadre de l'Accord de Cotonou ACP-CE. Le CTA a pour mission de développer et de fournir des services qui améliorent l'accès des pays ACP à l'information pour le développement agricole et rural, et de renforcer les capacités de ces pays à produire, acquérir, échanger et exploiter l'information dans ce domaine. Le CTA a son siège à Wageningen, Pays-Bas, et dispose également d’une antenne à Bruxelles.

Liens :
Site web du CTA: www.cta.int/fr/
Weblog du bureau CTA de Bruxelles: http://bruxelles.cta.int/
Briefings sur le développement à Bruxelles: http://bruxellesbriefings.net/

MÉXICO - Hard Times for Remittances

The amount of money sent by migrants from the U.S. will fall 13.4% this year

In 2009, according to BBVA Bancomer, remittances sent by Mexicans residing in the U.S. will fall 13%. Between Jan. and Sept. of this year, according to figures from Banco de Mexico, which the financial institution cites, the money sent from this migrant sector will add up to $16,438 million, representing a 13.4% drop compared with the same period in 2008. For 2010, according to the bank, remittances will see a quick rebound growing between 1 and 5%. Source

Global remittance flows likely to slip 6.1% as labour migration slows

Dubai: Global remittance flows could decline by 6.1 per cent this year to $317 billion from last year's record flow of $338 billion, said a top World Bank remittance expert.

"The year 2008 held off so well that despite a decline in private capital flows, global remittances reached their peak," Dilip Ratha, Lead Economist and Manager for Migration and Remittance of World Bank's Development Prospects Group, told Gulf News on the sidelines of the World Economic Forum's Global Agenda Summit that concludes on Sunday.

"The true size of flows, including unrecorded flows through formal and informal channels, is even higher.

"The crisis has impacted new migration flows, but existing migrants are not returning; global migration stock is still rising. Remittances are estimated to have declined by only 6.1 per cent in 2009, but a shallower recovery is expected during 2010-11. Read more

Transactions of Long Awaited Mobile Money Rise in Europe, Says Frost & Sullivan

LONDON, Nov. 12 /PRNewswire/ -- Both mobile operators and banks are turning to mobile transactions to foster loyalty and drive revenues. Ranging from vouchers and bank balance checks to remittance and top-up payments, mobile money is finally coming to fruition in both the banked and unbanked sector, while near field communication (NFC) promises to be the pot of gold at the end of the rainbow.

New analysis from Frost & Sullivan (http://www.wireless.frost.com), Money in Mobile -- European Transactions, estimates the mobile money market in Western Europe to grow to 4 to 5 billion Euros by 2013. The research examines both the banked and unbanked sectors and segments mobile money into four areas, namely: non-NFC based m-payments, mobile banking, remittance, and NFC based m-payments.

"Solutions targeting the developed world require a long-term strategy, even as providers will need to find a viable solution for retail payments (B2C)," notes Frost & Sullivan Principal Analyst Sharifah Amirah. "NFC is potentially a solution, but hardware costs and mass market availability still remain key challenges for its widespread adoption. In the mean time, SMS-based services will drive growth."

Read more

PHILIPPINES: BDO waives remittance fee for flood donations

Diaspora Journey: A concerted effort of banks and money transfer operators in time of calamities.

MANILA, Philippines - BDO Unibank Inc., the country’s top remittance bank, has waived its remittance service fees on donations sent to institutions participating in relief efforts for victims of tropical storm Ondoy.

The bank, through its remittance offices in Hong Kong, Macau, USA, Italy and Germany, said there are no service fees charged on cash donations sent to BDO Foundation and ABS-CBN Foundation Inc.’s Sagip-Kapamilya.

A number of remittance partners of BDO all over the world have also given their commitment on this effort. In Asia, for instance, those participating are BTI Pesos Express in Singapore, Afima Express in Brunei, EEC International Phil Corp. in Taiwan and Forex World Australia Pty., Ltd. In the US and Canada, BDO’s remittance partners Chartered Forex, E-Pera Corp., Mercury Quick, New York Bay and Continental Exchange are also helping by waiving the remittance fees for the said institutions. The same goes for CBN Grupo, Global Express Money Remittance and Safe Transfer Ltd in Europe and BDO’s remittance partners in the Middle East - Leela Megh Exchange, Al Ansari Exchange and Al Ghurair Exchange. BDO has also arranged with its global money transfer company partner Xoom Corp. to waive the service fee for all remittances credited to the Philippine Red Cross account.

A day after Ondoy hit Metro Manila and some parts of Luzon, the bank started receiving queries from OFWs and Filipinos residing abroad on how they can send donations to those affected and make sure that their contribution will reach the recipients.

With the cancellation of the remittance service fees, concerned Filipinos abroad will be encouraged to send monetary help to victims of the typhoon.

PHILIPPINES: Match remittances, government urged

Economy
Written by Dennis D. Estopace / Reporter
Wednesday, 11 November 2009 21:17

THE government should match the money sent by Filipinos overseas to boost the country’s ability to survive a crisis, former Social Security System chief Corazon de la Paz-Bernardo said.

“The steady growth of OFW [overseas Filipino worker] remittances should be complemented by a public investment program that is hinged on improving a major infrastructure base such as road and even mass-transport systems,” said de la Paz-Bernardo, currently president of the International Social Security Association (Issa). She spoke during a forum on government-owned and controlled corporations (GOCCs) on Wednesday.

She cited her experience as SSS for seven years on how state-owned enterprises could wield institutional leverage in view of the collapse of the global financial system.

“With financial markets continuing to unravel close to two years since the recession, the domestic economy has become heavily reliant on remittances,” she said. Read more

Dhaka 8th largest remittance earner in developing world

A Z M Anas

Bangladesh became the eighth largest remittance earner in the developing world last year as it showed resilience in the face of stinging global recession, according to the latest World Bank data.

The Development Prospect Group of the bank, in a revised estimate, said that the country's remittance flow amounted to US$9.0 billion in 2008, catapulting it into the league of top 10 recipients as Bangladesh edged out Egypt and Vietnam. Read more

Pakistan’s October Remittances From Overseas Workers Rose 63%

By Farhan Sharif

Nov. 11 (Bloomberg) -- Remittances from Pakistanis living overseas rose to $758.3 million in October as workers sent more money home from the United Arab Emirates, United States and Saudi Arabia.

Transfers of funds rose by $292.2 million, or 63 percent, in the fourth month of the fiscal year that began July 1, the Karachi-based State Bank of Pakistan said today in an e-mailed statement. Remittances in the four month period ended Oct. 31 rose 32 percent to $3.1 billion.

Workers in the Emirates transferred $175.2 million, up from $75.9 million a year earlier. Pakistanis in Saudi Arabia sent home $142.9 million, up from $96.8 million, and Pakistanis in the U.S. transferred $154.3 million, compared with $127.3 million. Read more

El Salvador remittances fall 10 pct in Jan-Oct

SAN SALVADOR, Nov 10 (Reuters) - Remittances by Salvadoran migrant workers to relatives back home fell 10 percent in the first 10 months of this year compared to the same period a year ago, the central bank said on Tuesday.

Migrants sent home $2.8 billion from January to October, the bank said. The decline comes amid the U.S. recession.

Remittances from 2.5 million Salvadoran workers in the United States are the main source of foreign exchange inflows to the impoverished Central American country. (Reporting by Guillermo Mejia) Source

PHILIPPINES: Remittance through Philpost in early 2010

EARLY next year, most overseas Filipino workers (OFWs) can send their remittances to their families in the country in seconds, and with cheaper rate compared with other remittance centers.

This will be made possible by the Philippine Amusement and Gaming Corp., (Pagcor) donation of at least P20 million to the Philippine Postal Corp. (PhilPost) for the improvement of the latter’s information-technology infrastructure.

Postmaster General Hector Villanueva said in an interview that PhilPost will use the money to buy computers to develop its remittance service to at least 100 post offices nationwide, including cities and municipalities in Metro Manila, Davao, Cebu, Cagayan de Oro and Zamboanga, among others.

“We handle 1 million letters a day. Many of the letters contain small denominations of foreign currency. [Through the Pagcor donation] we will purchase P20 million worth of hardware, accessories and software to computerize 100 post offices in major provincial cities in and outside the metropolis,” Villanueva said at the sidelines of PhilPost’s 111th
anniversary celebration at Manila Central Post Office. Read more

Nigeria: World Bank - Citizens Remit $10 Billion Home

Lagos — With an estimated $10 billion inflow of foreign exchange from its citizens abroad this year, Nigeria yesterday emerged the sixth highest destination of remittances from citizens of developing nations in the Diaspora.

The World Bank, which gave the figure in its Migration and Development Brief released at the weekend said in the updated remittance flow table, India, China and Mexico retained the top three positions among developing countries and attracted funds up to $52 billion, $49 billion and $26 billion respectively. Read more

Better protection of migrants’ rights—UN chief

MANILA, Philippines—In an era where people are crossing borders in greater numbers seeking better opportunities, it is more vital than ever that states safeguard the rights of migrants, Secretary General Ban Ki-moon told a high-level gathering in Athens Wednesday.

“Let us never forget than in the end, policies and laws are really about people and values,” he said in his remarks to the opening of the third Global Forum on Migration and Development which were e-mailed to media outfits by the UN office in Manila.

The Secretary General noted that the number of international migrants today is greater than at anytime in history, with 214 million people living outside their country of birth. Read more

700 Million Worldwide Desire to Migrate Permanently

November 2, 2009
700 Million Worldwide Desire to Migrate Permanently
U.S. tops desired destination countries
by Neli Esipova and Julie Ray

WASHINGTON, D.C. -- Every day, migrants leave their homelands behind for new lives in other countries. Reflecting this desire, rather than the reality of the numbers that actually migrate, Gallup finds about 16% of the world's adults would like to move to another country permanently if they had the chance. This translates to roughly 700 million worldwide -- more than the entire adult population of North and South America combined. Read more

PAKISTAN: Remittances to Pakistan from Kingdom soaring

06 November 2009
JEDDAH: Overseas workers' remittances to Pakistan in September this year jumped to $806.12 million, a 22 percent increase over the same month in 2008. This took the third quarter (July-September 2009) figures to $2.33 billion, due to the launch of Pakistan Remittance Initiative (PRI), said a top executive of National Bank of Pakistan (NBP).

Remittances from Saudi Arabia also made an impressive record. Pakistani nationals living in the Kingdom sent $430.75 million in the third quarter, an increase of $32.73 million or 8.22 percent over the same period in 2008.

"This is the direct result of the launch of PRI and other measures taken by the government of Pakistan," senior executive vice president of NBP Khalid bin Shaheen, told Arab News on Wednesday.

PRI is a joint initiative of the Ministry of Finance, Ministry for Overseas Pakistanis and State Bank of Pakistan, which is the country's central bank. Launched in August this year, it aims to double the flow of remittances within three years. "We are aiming to take remittances up to $13-14 billion by 2011," said Shaheen, who is currently touring Saudi Arabia as a representative of PRI, of which his bank is a member. His itinerary includes meeting top executives of Saudi banks. He arrived after visiting Kuwait, the United Arab Emirates and Bahrain. Read more

BANGLADESH: Remittance on growth path

Reduced migrant outflow notwithstanding

IN spite of being arrayed against adversities, remittance flows into the country have been on the growth path. It is the rate of increase that has been subject to fluctuations but not growth as such. On top of this, we now have a definitively positive piece of news in that the WB's projections of a reduced remittance growth for the current fiscal are already being assailed if the figure for the first four months of the current fiscal is any guide. The growth of inflow stood at 21.23 percent during July to October and there is cautious optimism about outlook for economic recovery in the host countries possibly brightening up in the remainder of the year.

The figures speak for themselves as Bangladesh recorded remittance inflow of $3.61billion between July and October, 2009 compared with $2.98 billion in the same period last year. The forex reserve has crossed $9 billion in August compared with $7.74 billion in July. Read more

INDIA: MasterCard eyes $50 bn inward remittance market

MUMBAI: Mastercard is scouting for new opportunities in India. The payments company is eyeing the $50-billion inward remittance market and is
also registering its presence in mobile banking.

Some banks have joined hands with MasterCard for an inward-remittance product which will allow a worker based in say the UAE to send money to India using his MasterCard. The money transferred will be credited to a MasterCard account in India, which can be either a debit or a credit card account. “In this case, customers on both sides have bank accounts. The transactions can be done on a real time basis and we can provide the service at a much cheaper cost. Also checks and controls can be maintained,” points Joshua L Peirez, group executive, innovative platforms Masstercard. Read more

PHILIPPINES: Contribution of remittances to GNP seen shrinking

REMITTANCES SENT by Filipinos overseas, which now account for 10 percent of the gross national product, may no longer contribute as much to the economy seven years from now.

This was according to state-owned Development Bank of the Philippines, which said the economy needed to prepare itself for the time when it would no longer receive a substantial boost from the money sent by overseas Filipino workers.

“Currently, remittances are a major growth driver and it will continue to be in the next seven years. After that, however, things may change,” Reynaldo David, DBP president and chief executive officer, told reporters Thursday.

David was one of the speakers during a business forum organized by the Association of Development Financing Institutions in Asia and the Pacific [ADFIAP].

Over the medium to long term, he said, more and more OFWs and their families were expected to live permanently in their host countries. As a result, he said, remittances sent to the Philippines would likely shrink.

By the time that happens, he said , the Philippines should have already strengthened its economy and that growth would be sustained even with less money sent from abroad.

Currently, remittances contribute about 10 percent of the country’s GNP and fuel consumption, which accounts for 70 percent of the gross domestic product.

GNP is the sum of the values of goods produced and services rendered by Filipinos, both here and abroad. GDP is the sum of the values of goods produced and services rendered within the country, both by Filipinos and foreigners. Read more

Kenya: Forex remittances via mobile phones

Kenyans can now receive remittances from family and friends in the United Kingdom via their mobile phones through a service called M-PESA. This follows a successful pilot project with selected outlets in the UK over the last three months.
mobile phone

The international component of M-PESA makes Safaricom the first telecom company to offer a mobile based international money transfer service. The pilot according to Itnewsafrica.com engaged three agents - Western Union, Provident Capital Transfers and KenTv.

A total of 19 outlets were carefully selected to cover areas with relatively high number of Kenyans, including Reading, London, Luton, Wembley and Glasgow, the report said. Read more

Philippines: Remittances to lose their luster

REMITTANCES from migrant workers will remain a major growth driver in the medium term but could lose significance after, the chief of the Development Bank of the Philippines (DBP) said.

DBP President Reynaldo G. David, speaking at a panel discussion on remittances at an Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) forum, urged the government and businessmen to create more local jobs to offset a likely decline in the cross-border flows.

He asked: "The growth rates will continue in the next six to seven years, but how long will that go on?" Read more

First Ever Debit Card Service for Somalia

HARGEISA, Somalia, October 29 /PRNewswire/ -- Dahabshiil, the largest international money transfer business in the Horn of Africa, has launched the first ever debit card service in Somalia to help individuals and businesses make and receive payments.

The service, called Dahabshiil eCash, will enable customers to pay for goods and services at any shop, restaurant, hotel or petrol station that is an official Dahabshiil merchant and has a point of sale terminal on the premises.

Abdirashid Duale, CEO of Dahabshiil, said: "We are delighted to be the first company in the region to provide our customers with the facility to make and receive payments via debit card. This underlines our intention to be at the forefront of the region's banking and money transfer sectors. Read more

AFRICA: ADB moves to enhance remittance flow to Africa

By Babajide Komolafe

African Developemnt Bank has commenced moves to enhance inflow of remittances from African migrant. Last week Friday, the Bank Group signed an agreement with the French government and the International Fund for Agricultural Development (IFAD) to establish a multilateral Trust Fund to improve African migrant remittances.

The agreement was signed by the ADB President, Donald Kaberuka; the French Immigration, Integration and Cooperative Development Minister, Eric Besson and IFAD’s Director for West and Central Africa, Mohamed Béavogui.Read more

Juniper Research: Half a Million People Will Use Mobile Money Transfer Services by 2014

Research and analysis firm Juniper Research (News - Alert) recently revealed a study showing that global consumer demand for money transfer services will significantly increase and cross the 500 million threshold by 2014.


This proliferation of mobile money transfer services will be mainly in developing countries, the firm’s research finds. Details of this analysis have been outlined in its latest report, “Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014.” The report further purports that several new mobile money services which are in the pipeline will counter political, regulatory and commercial obstacles before their services can be distributed in the market. Read more

Nigeria: The Nation Earns $3.3 Billion Agriculture Remittances-Ifad

Abuja — According to a World Bank record presented at the International Fund for Agricultural Development (IFAD) remittances forum in Tunisia yesterday, Nigeria ranks top among five leading African countries with the highest remittances inflow.

Making a presentation at the IFAD forum, Director of the Association of Ethiopian Microfinance Institutions Wolday Amha said Nigeria is leading the pack of the top five African countries in terms of remittances inflow under a World Bank survey followed by Kenya, Sudan, Senegal and Sudan who get $1.3 billion, $1.2 billion, $874 million and $856 million respectively. Read more

Dollars Without Borders: Can the Global Flow of Remittances Survive the Crisis?

Between 2003 and 2008, on the back of a growing world economy, remittances more than doubled, reaching as much as $330 billion in 2008. Now, with the world's largest economies in steep decline, many fear that the flow of remittances will also take a hit, threatening the millions who depend on funds sent by relatives and friends working abroad to meet basic needs.

In fact, remittances are proving to be one of the more resilient pieces of the global economy in the downturn, and will likely play a large role in the economic development and recovery of many poor countries. Remittances provide the most tangible link between migration and development, a relationship that has only increased in importance since the crash. To ensure that these funds can move efficiently and easily around the globe, governments of rich and poor countries should attempt to make remittances as accessible and cheap as possible. Read more

Migration: Remittances Also Drive Political Change

* by Thalif Deen (united nations)
* Monday, October 05, 2009
* Inter Press Service

The world's 200 million international migrants have traditionally been viewed in terms of dollars and cents: how much hard currency have they remitted to their home countries?

But a new study, commissioned by the U.N. Development Programme (UNDP) and released Monday, also focuses on the political side of the equation.

What role did migrants play in the politics or civil wars in their home countries: Lebanon, Sri Lanka, Liberia, Mozambique, Turkey, Morocco?

In Lebanon, returning migrants used the wealth earned abroad to engage in politics, particularly when new political forces were formed after the 1989 Ta'ef Accord ending the country's longstanding civil war. Read more

EVENT: Results Presentation of “Survey on Remittances 2009, Childhood and Adolescence”

Friday, 30-10-2009 to Friday, 30-10-2009

Guatemala City, Guatemala - IOM Guatemala and the UN Children’s Fund (UNICEF) are presenting the results of the “Survey on Remittances 2009, Childhood and Adolescence” at the Hotel Real Intercontinental on 30 October 2009.

The “Survey on Remittances 2009, Childhood and Adolescence” is part of the series of annual surveys carried out by IOM Guatemala since 2002.

The problems affecting children and adolescents as a consequence of international emigration, mainly due to the absence of their parents, have become an increasing concern for governments and the international community. These problems are often the cause of international emigration, or they may prompt the involvement of children and adolescents in gangs or illegal activities. Read more

India: Rupee rolls up to cheer up remittances

Saturday, Mar 15, 2008

Gulf News

The rupee's depreciation in the past few weeks should bring cheer to the millions of Indian expatriates in the Gulf. The decline is expected to continue in the coming months as turbulent stock markets and a widening trade deficit take their toll.

The rupee has weakened more than two per cent against the dollar so far this year, pressured by equity outflows and a severe shortage of spot dollars in the market. Curbs on foreign borrowing imposed by the government last year and the global credit woes caused by the US subprime crisis have also cut inflows.

After gaining more than 12 per cent in 2007, the rupee has fallen to around 40.5 per dollar, its weakest since mid-September and farther away from a near 10-year high of 39.16 in November. [Read more]

BANGLADESH: EBL, RPCF signs agreement to simplify remittance payments

Eastern Bank Limited (EBL) will soon launch multiple remittance services products through their Telco Partners, Visa Card and other electronic payment channels which will simplify the migrant's remittances in Bangladesh.

With this end in view, EBL signed a grant implementation agreement with Remittance and Payments Challenge Fund (RPCF) in Dhaka recently.

Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank Ltd and Robert Smith, Challenge Fund Manager of RPCF signed the agreement on behalf of their respective sides. Senior executives from both the sides were present on the occasion.

Under the agreement RPCF will support the EBL's visionary initiative towards simplification of remittances payments through various Electronic Alternate Payment Channels.

RPCF is the cost sharing grant facility of the remittances and payments partnership between Bangladeshi banks and institutions and UK Department for International Developments. Source

SOMALIA: Anti-terror laws hinder Somali immigrants

For months, Somalis living in Columbus have complained that it has become increasingly difficult to send money home to family members because of banking-industry fears that the funds could end up with terrorists.

Huntington, JPMorgan Chase and Charter One are among the banks that have closed accounts set up by remittance companies, said Omar Tarazi, a local lawyer who has worked with the Somali American Chamber of Commerce and several remittance companies.

Somali leaders said remittances that refugees send home are a lifeline to families and friends struggling in the war-torn African nation. It has few banks, so remittance companies are crucial to sending money home. Read more

Yemeni expatriate remittances make up nine percent of the national income

YEMEN - Yemeni expatriate remittances (money sent by a foreign worker to his home country) have been responsible for nine percent of the gross national income during the past eight years, reported Abdul Karim al-Mogharm, the sub-governor of Central Bank of Yemen, during an expatriates conference that was held recently in Sana'a.


Al-Mogharm had prepared a paper on investment opportunities in the banking sector, which he presented at the conference. He emphasized the essential nature of remittances in supporting Yemen's foreign exchange reserves, balancing payments, and increasing the national income. Al-Mogharm went on to say that “emigrants' remittances helped finance the country's needs,” and added that “an average of 3.5 percent of the financing for the country's imports came from remittances.” Read more

Remittances to Moldova exceed 730 million dollars in eight months of 2009

Oct. 15, 2009 / [7596]

Chisinau, 15 October /MOLDPRES/ - Moldovans working abroad remitted over 730 million dollars through commercial banks in the first eight months of 2009. This is by about 35 per cent less against the same period last year, when the remittances amounted to 1.1 billion dollars, according to data by the National Bank of Moldova (BNM).

Remittances from abroad started decreasing last January. In August 2009, the transfers stood at 103 million dollars, at the same level as a month before. The drop in remittances is triggered by the economic crisis, as part of the Moldovans working abroad lost their jobs or returned home.

Government officials have forecast that, in 2009, the remittances will remain at the last year's level or will drop because of the economic crisis.

BNM data also showed that 82 per cent of all the money was sent through quick transfer systems, among which Western Union, Migom, Strada Italia, Express Mail, etc.

In 2008, remittances from abroad reached a record-high level - 1.66 billion dollars. In 2007, Moldovans sent home about 1.2 billion dollars, and 855 million dollars in 2006. Source

UGANDA: MTN to Start Global Mobile Money Transfer

Kampala — MTN is to start international money transfer services, the chief marketing officer, Isaac Nsereko, has said.

"We are going global as well," said Nsereko in a telephone interview.

The development not only shifts the competition terrain to a geographical level, but ushers the telecoms into one of the most capitalised industries, international remittances.

Uganda's remittances from abroad were $724m in 2008, down from $786m in 2007 as a result of the global economic crisis. Read more

INDIA: UAE-India non-oil trade worth over $44 bn, says Tharoor

Bilateral trade between the United Arab Emirates (UAE) and India was worth $44.5 billion in 2008-2009, WAM news agency reported Friday, citing India's Minister of State for External Affairs Shashi Tharoor.

This accounts for about half of India's total trade in the Gulf region. The figure is excluding the oil sector. India's trade with the six-member Gulf Cooperation Council (GCC) reached $86.9 billion, putting it ahead of the European Union ($80.6 billion) and ASEAN countries ($44.6 billion). Read more

PAKISTAN: 100% official channelisation of remittances urged

KARACHI: If 100 percent of all home remittances are channelised through official channels, the remittance amount would be doubled and we would not be in need of a begging bowl anymore, S M Muneer, President of Indo-Pak Chamber of Commerce and Industry said here on Thursday. Read more

JAMAICA: Good news on remittances, says Jamaican PM

KINGSTON, Jamaica (OPM) -- Prime Minister, Bruce Golding says there has been a slow down in the rate of decline in Jamaica's economy and based on reports he has received, remittances for August have shown an improvement of 8 per cent, compared to the figures for August last year.

Prime Minister Bruce Golding shares a light moment with Parliamentary Secretary in the Ministry of Culture, Youth & Sports, Senator Warren Newby at his 8th Town Hall meeting on the University of the West Indies, Mona Campus on October 6. Golding urged the students to improve the chances of employment by pursuing studies for jobs in demand locally.
The Prime Minister was speaking at his 8th Town Hall meeting in the Assembly Hall at the University of the West Indies (UWI), Mona campus, on Tuesday. Read more

NEW ZEALAND: Taking your money for a ride

Sending money overseas is notoriously expensive but greater transparency, regulatory changes and some new competition mean the sky-high sums charged by operators are starting to drop, commentators say.

Transferring money to the Pacific Islands can cost up to 25 per cent extra in fees, according to an international study. In some cases, the one-off fee can be up to NZ$185 for a single transfer.

With more than half a million New Zealand citizens living across the Tasman, Australia is our biggest remittance market – although no records are kept of just how much money is sent to family and friends there.

Some bank customers say sending A$100 to Australia can cost an extra A$50 to cover all the fees and charges. Read more

Pakistan Overseas Remittances Rise to Record in Sept. (Update1)

By Farhan Sharif

Oct. 10 (Bloomberg) -- Remittances from Pakistanis living overseas rose to a record $806.1 million in September as workers sent more money home from the U.A.E. and Saudi Arabia.

Transfers of funds rose by $145.7 million, or 22.1 percent, in the third month of the fiscal year that began July 1, the Karachi-based State Bank of Pakistan said today in an e-mailed statement.

Workers in the Emirates transferred $504 million, up from $312.2 million a year earlier. Pakistanis in Saudi Arabia sent home $430.75 million, up from $398 million, and Pakistanis in the U.S. transferred $498.7 million, compared with $499.5 million. Read more

PHILIPPINES: Remittances seen up 5%

HE National Economic and Development Authority (Neda) believes overseas Filipino workers (OFWs) are and will continue to respond to the calamity brought by typhoons Ondoy and Pepeng by boosting their remittances to relatives—an increase that may reach around 5 percent by the end of the year.

Neda Acting Director General Augusto Santos said it is also in the nature of Filipinos to help each other, especially relatives.

The Bangko Sentral ng Pilipinas (BSP) earlier expected the global economic crisis would reduce growth of worker remittances to zero, but in the first seven months of the year, remittances have already posted a 3.8-percent growth rate. Read more

Rainy-day oil funds see Mideast through downturn

DUBAI, United Arab Emirates — The Middle East has weathered the global economic downturn better than other parts of the world because its energy exporters were able to tap billions of dollars in oil profits collected when prices were booming, the International Monetary Fund said Sunday.

By reaching into those reserves, major oil producers like Saudi Arabia shielded their economies from the worst of the slump by maintaining government spending and injecting liquidity into domestic banking systems rattled by the credit crisis.

Doing so not only blunted the impact of the downturn on their own economies, but also helped shore up the economies of neighboring countries without large oil reserves, the IMF said. Read more

Kenya leads region in remittances from abroad — UN report

Kenya received the bulk of remittances in the region in 2007, amounting to $1,588 million, while Uganda got $849 million, and $51 and $14 million were sent to Rwanda and Tanzania respectively.

According to the 2009 Human Development Report launched last week by the UN, average remittances per person in Kenya were $42, $27 for Uganda, $5 for Rwanda and $0 for Tanzania, compared with $26 as the average for sub-Saharan Africa, which received a total of $16,815 million. Read more

Philippines: Help typhoon victims in Luzon, Philippines

Diaspora Journey:

May I break the topic this time to give way to an appeal to help the victims of typhoon Ondoy (Ketsana) in the Philippines. I am appealing to kind-hearted people worldwide to donate and help the victims. Thank you for your kind attention.

You can find more stories at http://blogs.inquirer.net/current/2009/09/26/how-you-can-help/

9/26/09

The news is grim. People on their roofs, people losing their homes, loved ones separated, refugees everywhere, the most recent report is 5,000 people stuck in the Trinoma Mall in Quezon City. I have yet to confirm this but have heard this is the worst deluge since 1967; PAGASA reported that in three hours, as much rain as normally falls in two weeks soaked the Metropolis. Reports from the rest of Luzon -with most of Luzon’s provinces, including the National Capital Region placed under a State of Calamity by the President- are only now trickling in. Rescue and relief efforts over the years have gotten increasingly efficient, but this is one of those events that happen so suddenly, no one can possibly prepare for it.

FOR THOSE OUTSIDE THE COUNTRY WHO WANT TO DONATE:

TXTPower.org has set up a paypal account for donations. Your money will be forwarded to Red Cross.

Kapuso Foundation is also accepting credit card donations.
2/F GMA Kapuso Center
Samar St. cor. 11th Jamboree St. Diliman, Quezon City
Call 9827777 loc. 9901/9904/9905.
accepts relief goods and cash
In Kind donations

LOCAL:

Please send in-kind local donations to The Philippine National Red Cross National Headquarters in Manila. They could also arrange for donation pick-up.


INTERNATIONAL:

Send a letter of intent to donate to the PNRC
A letter of acceptance from PNRC shall be sent back to the donor
Immediately after shipping the goods, please send the (a) original Deed of Donation, (b) copy of packing list and (c) original Airway Bill for air shipments or Bill of Lading for sea shipments to The Philippine National Red Cross National Headquarters c/o Secretary General Corazon Alma de Leon, Bonifacio Drive, Port Area, Manila 2803, Philippines.

PHILIPPINES: Goldman Sachs, DBS turn bullish on RP

Diaspora Journey: It is remarkable how remittances from overseas Filipino workers help in time of economic crisis.



By Michelle Remo, Ronnel Domingo
Philippine Daily Inquirer
First Posted 00:04:00 09/21/2009

Fi

FOREIGN FINANCIAL INSTITUTIONS are turning bullish on the Philippines after the local economy showed resilience in the first half of 2009 and avoided falling into a recession.

Goldman Sachs has raised its economic growth projections for the Philippines, saying stable remittances and pump-priming by the government would help boost the country’s productivity to levels higher than initially expected.

Singapore-based DBS Bank also raised its forecast growth for the Philippines’ gross domestic product (GDP) for 2009 to 1.6 percent from 0.5 percent, citing “the strong second-quarter rebound.”

In a paper on the Philippines, Goldman Sachs said it now expected the domestic economy to grow 1.6 percent this year and by 4.2 percent in 2010. Read more

GEORGIA: Bank of Georgia offers new product on remittances market, expects growth of customers

Nino Sikhuashvili


Recognizing that remittances are one of the driving forces of the Georgian economy, a major bank is making it easier for its customers to receive funds electronically.


Bank of Georgia announced last week that it has a new service which it called “a revolutionary product in the banking system” that allows customers to receive wired funds from anywhere in the world that will be accessible through a bank-issued debit card. This will eliminate the need to visit a branch to receive cash, the bank’s General Director Irakli Gilauri told reporters.


He said he expects this service - the first of its kind in Georgia - to attract people who receive remittances from abroad through services like Western Union or Moneygram but don't have a bank account.


"Customers from other banks will also be attracted,” Gilauri said.


Exactly how much growth the bank projects, Gilauri isn't saying, but he said the bank does hope that the service will encourage Georgians to store more of their money in their bank accounts.


“Our ultimate hope is that more than 20m USD will be deposited in bank accounts annually,” he said.


Over 800, USD is transferred to Georgia from abroad annually and 45 percent out of them sends money via Bank of Georgia, according to the bank’s latest statistics.


The system will be telephone-based in which the customer who has received wired funds (USD, EUR or GEL) will enter their details into the system staffed by a live operator. Source



“Money will be transferred to the account in several minutes,” he said.



The bank will not levy a commission for transaction less than 3,000 GEL.



The service is compatible with major transfer services like MoneyGram, Anelik, Elva, Contact, Ria Money and Unistrim.



Bank of Georgia is the largest Georgian bank with 34 percent of total banking assets. It operates in Georgia, Ukraine and Belarus. It serves more than 800,000 individuals and 146,000 businesses and has 140 branches.

PHILIPPINES: Economists see 5.5% increase in ’09 remittances

REMITTANCES from Filipinos working abroad will probably grow by 5.5% this year despite the global economic crisis, buoying the struggling economy, a Reuters poll showed.

The median forecast from 10 economists was a sharp reversal from a 0.5% contraction predicted in July and a 5% fall forecast in May.

It was also higher than the Bangko Sentral ng Pilipinas’ (BSP) latest estimate.

BSP governor Amando M. Tetangco, Jr. told Reuters on Monday that remittances could grow by 2-3% this year, higher than a previous forecast of flat growth from 2008’s record $16.4 billion, due to a sustained rise in the number of Filipinos working overseas.

Remittances have continued to grow through the global economic crisis, which resulted in massive job losses and wage freezes worldwide.

Remittances totalled $9.97 billion in the seven months to July, up 3.8% from the same year-ago period.

All 10 analysts predicted stronger growth this year, far better than the July survey in which half of 10 analysts expected inflows to contract between 1% to 10.4%.

Remittances from overseas workers are the equivalent of a tenth of gross domestic product and are a pillar of domestic spending. About a tenth of the country’s 92 million population live and work abroad. — Reuters
Source

EVENT, Oslo (Norway): Seminar Thinking out of the box - how can migration and development lead to new ways for collaboration?

The Norwegian Development Network is organizing a seminar titled “Thinking out of the box - how can migration and development lead to new ways for collaboration?” on September 16 in Oslo, Norway. The aim of this seminar is to present different models for working with migration and development. The organizer also hopes that the seminar will stimulate and give ideas to more cooperation between Norwegian civil society organizations and diaspora groups. For details of the seminar:



Organizer: The Norwegian Development Network (NDN) is a resource and competence network for its members and other actors in the field of development working to:

1) Focus on the values that provide guidance for development co-operation

2) Increase the professional knowledge on development work among its members and other development actors

3) Increase the quality of development co-operation

4) Facilitate exchange of experiences among its members, both generally and on specific topics

The NDN has 66 members as of August 2008. These comprise the majority of Norwegian Civil Society Organisations (CSO) - including umbrella organisations - who are involved in development co-operation with the Global South.

GUATEMALA: Remittances to Guatemala Down Nearly 10 Percent

GUATEMALA CITY – Guatemala’s central bank announced Thursday that the sending of remittances from abroad into the country fell by 9.7 percent between January and August compared to the same period last year.

In the first eight months of 2009, $2.64 billion flowed into the country in the form of remittances compared to $2.92 billion sent by Guatemalans living abroad last year, the Banco de Guatemala said.

Last month, remittances totaled $337.44 million, some 10 percent less than the $373.53 million received during the same month in 2008, the bank said on its Web page.
Read more

INDONESIA: UPDATE 1-Indonesia's Mandiri to open remittance unit in Malaysia

JAKARTA, Sept 11 (Reuters) - Indonesia's Bank Mandiri (BMRI.JK) will open a new unit in Kuala Lumpur dedicated to collecting remittances from the millions of Indonesians working in Malaysia, a senior executive said late on Thursday.

Thomas Arifin, Director for International Banking, said the new unit would help Mandiri, Indonesia's biggest bank, increase its fee-based income.

"The bank will initially cover millions of Indonesian workers who are working in Malaysia by progressively extending the number of outlets," Arifin said in a text message sent to Reuters. Read more

JORDAN: Remittances from Jordanian workers drop

Bloomberg
Published: September 12, 2009, 11:37

Amman: Remittances from Jordanians working abroad dropped 3.7 percent in the first seven months of 2009 compared with the same period of 2008, the Central Bank of Jordan said.

Remittances from about 700,000 Jordanians, mostly in Gulf states, fell to 1.48 billion dinars ($2.1 billion) in the period, the bank said in a report on its website.

Remittances, which account for about 14 per cent of Jordan's gross national product, are expected to remain at about 2.7 billion dinars this year, said Finance Minister Bassem Salem. Read more

PAKISTAN: Gulf-based expats lift remittances to new high

The government is hoping that the robust growth in remittances by non-resident Pakistanis, mainly from the Gulf region, will help it tide over its massive current account deficit.

According to the latest data from the State Bank of Pakistan, overseas Pakistanis remitted $780.5mn in August, 31.78% higher than the corresponding period last year.
This is the second consecutive record remittance in a single month during the current 2009-10 fiscal year (FY10). The previous record remittance in a single month by Pakistani workers was in July 2009 when $744.85mn was received.
If remittances continue at the same pace, the total amount could cross $9bn at the end of the current fiscal. This would be enough to offset the impact of the current account deficit.

The country received $7.811bn as workers’ remittances in fiscal 2008-09 while current account deficit stood at $8.86bn in the last fiscal. A gap of over $1bn was visible.
Read more

PHILIPPINES: Metrobank, Luup partner for mobile remittances service in the Philippines

Philippines-based financial services provider Metrobank has signed a contract with mobile payment services provider Luup, owned by Norwegian m-payments services provider Contopronto to launch a mobile money transfer service, cellular-news.com reports.

Aimed at overseas workers who want to send money to their families, the service enables the Luup banks' customers to initiate transactions via Metrobank's network of over 500 branches and over 1,100 ATMS across the country.

Metrobank provides a suite of banking services to large local and multinational corporations, middle market and retail segments. Luup has recently entered an agreement with MoneyGram International to develop a mobile money transfer service by making use of the latter's global agent network and Luup's mobile payment services.
Source

PHILIPPINES: DBP to serve remittance needs of Macau-based OFWs

Quezon City (9 September) -- State-owned Development Bank of the Philippines (DBP) and the Industrial and Commercial Banking Corporation of China Ltd (ICBC) recently signed a memorandum of agreement (MOA) for a remittance partnership that will enable DBP to reach out to overseas Filipino workers based in China.

Through its partnership with ICBC, DBP will now be able to handle and serve the remittances of Filipino migrant workers particularly in Macau, a special administrative region of the People's Republic of China.

DBP chairman Patricia A. Sto. Tomas expressed gratitude to ICBC officials led by its chairman Zhu Xiaoping and vice chairman and CEO Shen Xiaoqi for partnering with DBP. She also expressed hopes that the relationship between the two banks will be strengthened not only to cover remittances but also other banking services.

ICBC is the world's biggest bank with more than 300,000 personnel. It also has overseas branches and subsidiaries in Hong Kong, Japan, Korea, Australia, Germany, United Arab Emirates, United States and United Kingdom. (DBP) Source

Roamware Acquisition Outlines Strategy to Lead in Global Mobile Financial Services

SAN JOSE, Calif., Sept. 9 /PRNewswire/ -- Roamware Inc., a global leader in
mobile roaming solutions, announced that it has completed the acquisition of
Macalla Software Ltd, a leading developer of mobile financial services (MFS)
solutions. Macalla's m-commerce and mobile banking solutions are successfully
deployed by banks and operators around the world; these solutions include
adding prepaid minutes, credit transfers, international remittance, person to
person transactions and bill payment. With Macalla's acquisition, Roamware
aims to build upon its roaming expertise and become a market leader in MFS,
specifically addressing the needs of low income, unbanked communities across
the world. Read more

MEXICO: MÉXICO - Slight Increase in Remittances

Although falling at an annual rate, shipment averages increase in July

During the second quarter, remittances sent home by Mexicans working abroad slumped by 18% in annual terms, however, according to the Bank of Mexico (Banxico), the per consignment average for July showed a slight improvement amounting to $323 per shipment, a figure close to the $345 average in 2008. For Mexico’s poorest families, remittances represent 14% of their total income.
08-Sep-2009 03:09pm

Sources

Wells Fargo ExpressSend Remittance Service Now Available Online

Making it Possible for Customers to Initiate Remittance Transactions 24-Hours a
Day
SAN FRANCISCO--(Business Wire)--
Wells Fargo & Company (NYSE:WFC) has expanded its ExpressSend remittance service
to the online channel. Wells Fargo customers are now able to send an ExpressSend
remittance transaction through WellsFargo.com - making it possible for customers
to initiate remittance transactions 24-hours a day, 7-days a week.

Wells Fargo offers international remittance products to the top seven countries
from the U.S. - Mexico, El Salvador, Guatemala, India, the Philippines, Vietnam,
and China. According to Javelin Strategy & Research, 77 percent of onlineAsians
and Hispanics actively bank online. Read more

Rwanda: Remittances Up 24 Percent Despite Global Recession

Kigali — Rwanda's private inflows from abroad have increased by 24 percent in the first half of 2009, so far defeating earlier forecasts that remittances will drop by 15 percent at the end of the year.

Viviane Mwitirehe, Director of Statistics in the National Bank of Rwanda told Business Times yesterday that in the first six months of this year statistics indicate that $85.69 million (Rwf48.39 billion) was remitted into the economy compared to $69.13 million (Rwf38.9 billion) in the same period last year. Read more

Migrant remittances to fall 5-8 per cent in 2009, says UNCTAD

Bangkok/New Delhi - Migrant remittances are expected to fall 5 to 8 per cent this year after hitting a record-breaking 305 billion dollars in 2008, the United Nations predicted Monday.

Despite the global crisis, recorded remittances reached 305 billion dollars last year, up 8.8 per cent over 2007 figures, with India taking the lead at 45 billion dollars in money transferred home, up 27.6 per cent year-on-year, according to the annual report of the United Nation Conference on Trade and Development (UNCTAD). Read more

Helping Migrants Weather the Storm

By WILLIAM LACY SWING
Published: September 6, 2009

Perceptions of migration and broad recognition of the positive contributions that migrants make to society have regrettably regressed in most migrant-receiving countries during the current economic downturn.

As job markets in the developed world have contracted, a perception has emerged of migrants as the unwanted flotsam and jetsam of globalization, a reserve army of surplus labor that can be jettisoned or rehired with the ebb and flow of the global economy. Read more

PHILIPPINES: BSP, banks agree to cut remittance fees

By LEE C. CHIPONGIAN
September 4, 2009, 5:20pm
The Bangko Sentral ng Pilipinas (BSP) and the Association of Bank Remittance Officers (ABROI) have agreed in principle to reduce fees on fund transfers.

Talks have been ongoing for months now but BSP Deputy Governor Armando L. Suratos said the memorandum of agreement is being finalized for signing by the end of this year.

“There is an agreement in principle with banks to standardize and reduce their back-end processing fees,” Suratos said. “We expect to implement (this) upon signing of the MoA.”

The central bank is encouraging ABROI bank members Banco de Oro Unibank, Metropolitan Bank & Trust Co., Bank of the Philippine Islands, Philippine National Bank, Land Bank of the Philippines, Rizal Commercial Banking Corp. and China Banking Corp. to course remittances through its Philippine Payments and Settlements Systems (PhilPaSS). BSP cut fees to P5 per transaction as sweetener.Read more

Indian bank eyes 55% growth in remittances

By Himendra Mohan Kumar, Staff Reporter
Published: September 03, 2009, 22:55
Abu Dhabi: Indian multinational bank Bank of Baroda expects remittances to India through its UAE branches to increase 55 per cent on year to Rs45 billion (Dh3.37 billion) in the year to March 2010, a top executive said.

"In the April to June quarter, the combined remittances through our branches in the UAE stood at Rs13 billion. So, we are well on course to achieving our target," Ashok Gupta, the bank's chief executive for the GCC said.

Total remittances to India through the bank's branches increased 80 per cent on year to Rs29 billion in the year ended March 2009, said Gupta. Read more

Kenyans’ remittances home rise 8%

Friday, 4th September, 2009
E-mail article Print article
NAIROBI

The amount of money sent home by Kenyans living abroad in July was $50.372m, up 8.7% from $44.137m in the same month of 2008, the Central Bank of Kenya said on Thursday.

Total remittances in the first seven months of 2009 stood at $342.3m, down 8.4% from the same period of 2008, but up 10.3% from January-July 2007.

“The surge in 2008 remittance inflows was attributed to the Safaricom IPO and post-election violence, which attracted large funds for investment and consumption smoothing respectively,” the bank said in a statement issued early on Thursday.

Remittances to east Africa’s biggest economy are a key source of foreign exchange. They totalled $611.2m in 2008, up from $573.6m in 2007. Read more

EVENT: International Forum on Remittances, Tunis

The 2009 International Forum on Remittances will take place on 22 and 23 October 2009 in Tunis. This year’s forum will mainly focus on remittances to and within the African continent. The objective of the forum is to raise awareness among different stakeholders in the remittance market and highlight the potential benefits that remittances can bring to the social and economic development of the African continent. To register please complete the online registration.

Registration is free of charge.

Additional information will be provided at a later date.

Remittances, business models and technology fair will run parallel to the Forum to allow private-sector entities and other stakeholders to exhibit their products and services.

The fair will serve as an opportunity to interact with other key players in the remittance market, involving the public, private, and civil society sectors. For more information and registration please contact: remittances@ifad.org

Link

EVENT: SWIFT SIBOS 2009 - Hong Kong, 14-18 September 2009

Welcome to Sibos, the world's premier financial services event
In these unprecedented economic conditions, we're proud that Sibos continues to deliver unique value.

It is the only event that brings the entire financial community together in person; where networking and doing business are at the top of the agenda; and where you can contribute to advancing critical dialogue to define future strategies and take collective action that can shape the future of our industry.

> Workers' remittances: Evolving through the crisis

Tuesday 15 September, 16:00 - 17:00

Banks are getting back to basics and are looking at their fee-generating transaction business in a new light. The humble remittance is about as basic as it gets. The revenue generation potential is certainly interesting. More importantly, the service is key to acquiring new customers and creating a platform to cross-sell the other financial services they require. But do banks really have what it takes to serve migrant communities well? This session will look at banking industry developments in remittances, analyse what it takes to be a winner in ethnic banking, and look at innovative new products, services and marketing techniques that are being deployed.

Daniel Ayala, Senior Vice President, Global Remittance Services Group Head, Wells Fargo Bank
Michael Bellacosa, Director, Product Management, Treasury Services, The Bank of New York Mellon
Antonio Blanco, Director of International Banking, "La Caixa"
Navinder Duggal, Managing Director, GTS, Cash and Trade, DBS Bank Ltd.
Richard So, Senior Vice President and Deputy Group Head of the International Offices and Subsidiaries Group Metropolitan Bank and Trust Company

Read more

EVENT: Money Transfers Singapore Conference

Money Transfers Singapore Conference

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GCMT2006
GCMT2007
MTD2008
MTL2008
MTD2009
MTM2009

IAMTN will be hosting the inaugural Money Transfers Singapore conference on 28th September 2009 at The Grand Hyatt. The one-day conference will be the first ever IAMTN conference held on remittances in Singapore. Delegates from money transfer companies, banks and regulators throughout Asia Pacific will take part in a one day programme that will address the key issues in the remittance world in the largest receive region in the world. These include the impact of the global financial crisis on remittances globally and within the region, new technological opportunities, the regulatory environment and will focus on both strategic and operational imperatives. Not only will MTS provide a real opportunity to listen to acknowledged experts in the area of money transfer but it will also allow plenty of time for networking, initiating partnerships and showcasing products.

True to IAMTN traditions this conference will concentrate on practical solutions to challenges delivered by real experts who have first hand knowledge of working in the industry and working with regulators and the public sector to create an environment that delivers real products and real value to consumers. This will be an action oriented conference for people who want to ‘do’ not those who just want talk.

Delegates will be drawn from Singapore, Asia Pacific and other regions. This is a must attend event for anyone with an interest in doing business in the region or understanding just how important remittances are to Asia.

Read more

EVENT: African Diaspora and Remittances: A Pool for Financing Investments in Africa

heme: "African Diaspora and Remittances: A Pool for Financing Investments in Africa."
You are currently logged on to the AREC-2009 Website (www.arec-conference.org). It gives you access to ongoing information and features on the first African Remittance Conference, AREC, due to hold in Yaoundé – Cameroon from November 23- 25, 2009.


AREC 2009 is a market place for ideas to propel Africa’s development through increased remittances. Though a new phenomenon, development aid and foreign direct investment put together are now inferior to remittances received by some developing countries. Yet Africa is still to fully embrace this trend. Over $250 billion worth of remittances came into developing countries in 2006 according to the World Bank. AREC 2009 will sound a wakeup call for Africa - the poorest continent on the globe - to reap from this new form of wealth.


Africa’s development landscape has changed – for the better - and it is our hope to promote this positive record of economic growth. Further information on this conference will be available on this website which is however still under construction. If you have any problems with registration process or our account login, please contact us. Read more