State Bank of Pakistan recently released the much anticipated Rules for Payment System Operators & Payment Service Providers. The expectations were high. The results. Disappointing.
The Undiscovered Country… I’ve been studying remittances for a long time now; read countless documents, viewed hours of videos, listened to tons of podcasts and interacted with 100s of people on this issue. The one recurring element I see is the problem of micro payments across-the-border. I think the word ‘micro’ here may do …
Under regulatory pressure, many banks are ending or limiting money transfers, most likely meaning higher costs for immigrants sending money home.
This is not comforting on any level. Big Banks’ effect will trickle down to the smaller banks.
Multilateral Investment Fund (MIF), who are a member of the Inter-Amercian Development Bank (IDB) Group recently released a report on remittances to Central American & the Caribbean. This 32-page report is a great (short) read giving a great insight into the Remittance Market for LatAm. The report can be downloaded here.
This week on Around the Coin we talk about the “Changing Landscape of Remittances”. Our in-house expert, Faisal Khan explains the current state of world remittances and a few major business opportunities over the next few years. Around the Coin. – What are remittances?– How big is the remittance industry?– It fast are remittances …