They should also adopt specific policies to affect volumes of remittances, remittance transfer mechanisms, management of remittance funds, the use of remittances and diaspora contributions to development.

Alternative remittance systems

I've told you my remittance hasn't come. Remittance indeed! said Mrs. Hall.

Harnessing the Remittance Boom

SR VI. Alternative remittance

Alternative informal remittance systems

E. Alternative informal remittance systems

There are different approaches to the problem, particularly between remittance source States and remittance receiving States.

The impact of remittance income on household well being depends on who controls remittance income and how it is spent.

There are no alternate remittance systems.

Remittance income formed a big part of Yemen s budget.

An additional payment was released when the partner had justified the use of the funds (at least 70 per cent of previous instalments) through the remittance of a subproject monitoring report.

Without mechanisms to identify such remittance systems operators, their locations, the remitters and recipients of the funds, or the mode of settling balances between operators, prevention of such abuse is almost impossible.

The remittance flow continues to be buoyant.

Remittance payments made 299 441 763 534

The Law defines that money remittance companies are those natural or legal persons which provide a service for the transmission of money through money transfers or any funds transfers, funds compensation, or by virtue of any other means, inside and outside the country of Panama.

(c) In order to address the concerns of remittance receiving States, registered alternative remittance systems should be obliged to settle balances through normal banking channels

Furthermore, remittance levels are double those of official development assistance (ODA).

The remittance system of Hawala does not obtain in this jurisdiction.

And thank you in advance for your remittance.

It was hard to see how the remittance of funds to their families by emigrant workers could be institutionalized given the difficulty of forecasting the amounts and assessing the eventual impact on countries' development.

(a) Simplifying procedures and facilitating access to formal means of remittance transfers

Has this name been circulated to alternative remittance systems?

The networks that allow some Somali warlords to channel funds for the procurement of arms comprise businesses operating in diverse economic sectors in trade, telecommunications, air transportation and money remittance services in Somalia and abroad.

alternative remittance systems are difficult to licence or to supervise.

Policies and projects that facilitated the development impact of remittances must be analysed. As half of remittance senders and the majority of remittance recipients, women were playing a central role in managing and distributing such income.

One State has recorded some success in encouraging the voluntary registration of alternative remittance systems.

Table 3 Private remittance flows to Africa, 1998 2003 (In billions of United States dollars)a

The exploitation of Alternative Remittance Systems such as trade based money, hawala and NGOs are addressed.

Restrictions or regulations, if any, applicable to alternate remittance systems such as or similar to hawala , as well as on charities, cultural and other non profit organisations engaged in the collection and disbursement of funds for social or charitable purposes.

Restrictions or regulations, if any, applicable to alternate remittance systems such as or similar to 'hawala' , as well as on charities, cultural and other non profit organizations engaged in the collection and disbursement of funds for social or charitable purposes.

Hurdles in converting informal remittance systems to formal systems through registration or licensing

The regulatory authorities of some States have initiated programmes to detect unregistered or unlicensed alternative remittance activity.

The Team makes no distinction between alternative and informal remittance systems for the purposes of this report.

Other countries, however, have taken steps to make remittance transfers possible via mobile phones.

(q) Issues related to the informal and cash based economy, including alternative remittance systems

Initiatives were also needed to improve remittance services to migrants and reduce transfer costs.

(d) African authorities should view capital and remittance flows as an important part of their national economic statistics.

The main goal is to detect the main obstacles to efficiency along the life cycle of the remittance.

No provision has yet been made in the Administrative Manual for the payment of interest on delayed remittance of contributions.

Alternative remittance systems are known by many terms, but all share the same operational characteristics.

Provision of funds

Custody of funds

Investment of funds

Source of funds