Is it true that remittances aid money laundering? This is the quintessential question that is asked by everyone. The Oracle of Remittances, Mr. Dilip Ratha of World Bank says ‘No’. Ask US Department of Treasury and other regulators, and they will answer with a ‘Yes’. So which one is it? Do they? or Don’t they? […]
Access to Banking: The De-Risking Issue Earlier this year, The World Bank inserted itself into the crowd to understand how the entire reduced access to banking issue was playing out, especially for money transfer (i.e. remittance) companies. (See earlier article on this World Bank Survey) See related articles on de-risking: Strangulation by Regulation. Can’t find […]
De-risking is a huge issue for MSBs and MTOs. Banks have been closing accounts, left, right and center, ridding themselves of all MSB / MTO related clients. I’ve written extensively on this: Can’t find MSB Friendly Banks? Go ahead, scream. No one is listening. The Sandstorm that is blanketing the operations of money transfer companies.
The World Bank Bilateral 2014 Remittance Data infographic is up. This interactive chart shows the Remittance Flow between various countries. The chart is divided into two parts: Remittances Sent Remittances Received The assigned URL to this infographic is: http://faisalkhan.com/remittances/
Woah! Remittances to reach $55 Billion by 2017 for Nigeria. That’s huge!
Though this is relatively a dated document, this condensed survey outcome done by World Bank provides a very solid outlook on the various payment systems worldwide. The report can be downloaded from here.
The Guardian did a recent post, that was very well presented, showing the visual map of remittance transfers all over the world. The date used in the above graph comes from the Bilateral Remittance Data as published for 2011 by the World Bank. The original article in full can be read here: Where does the money […]