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.

Support for green development inside central government organizations like SEPA offers little assurance of an effective countervailing force.

There are no alternate remittance systems.

The remittance flow continues to be buoyant.

Remittance payments made 299 441 763 534

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

And thank you in advance for your remittance.

Remittance income formed a big part of Yemen s budget.

Has this name been circulated to alternative remittance systems?

(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

alternative remittance systems are difficult to licence or to supervise.

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.

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

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

But China has seen a steady decentralization of power in recent years, making it harder for SEPA to affect policies at the regional and local levels.

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

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

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.

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

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

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.

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

Many States may therefore need to amend their laws to bring informal remittance systems under regulation.

No money remittance agencies are operating outside the banks (see the answer to the question 1.6).

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

Some States have initiated registration or licensing regimes for alternative remittance systems, or plan to do so.

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.

That's what I want to know. I told you three days ago I was awaiting a remittance

It is still common for electronic remittance or invoicing to be printed in order to maintain paper records.

(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.

An improved knowledge base was needed in order to formulate effective remittance management strategies that would enhance development.

At present there are no specific provisions to authorize or regulate the activities of money remittance or transfer services.

I was all against the scheme. At the same time, don't you know, I had to have that remittance.

For example, in commodity dependent and resource strapped Lesotho, remittance receipts represented about 27 per cent of GDP in 2001.

Although few States in their 1,455 reports acknowledged the existence of unregulated remittance systems within their jurisdiction, they are widespread.