The Central Bank of Kenya agreed with the banks to waive mobile money transfer charges until June 30 in the push for cashless payments aimed at curbing the spread of the coronavirus....
Expecting a shortfall in the amount of money sent back to the country by migrant workers because of the Covid-19 pandemic, the government decided to offer an incentives package to overseas Pakistanis to encourage them to use banking channels to transfer remittances. The package included tax...
Following the government announcement that COVID-19 Level 4 alert would be introduced on 25 March only essential services were permitted to remain open at a central place of business. The Government determined that financial services were essential services. These were banking, insurance and other financial institutions which...
The government of the United Kingdom amended the Health Protection (Coronavirus, Restrictions) Regulations 2020 to include money transfer organisations as essential service providers, exempted from restrictions during the lockdown period. The amendment recognises the importance of access to remittance services, especially for migrants and diaspora unable...
The government of Zimbabwe has allowed money transfer agencies to open three times a week during lock-down to pay out remittances from abroad....
The Sri Lankan authorities have introduced measures for a period of three months, aimed at restricting capital outflows, through suspension of outward investment payments, and a prohibition on commercial banks purchasing Sri Lankan sovereign bonds. There are also some current account restrictions, suspending imports of...
WSBI calls upon all stakeholders and actors in the remittance industry to join us in endorsing the “International Day of Family Remittances”. The day helps promote the ever-pressing need for wider financial inclusion. Greater inclusion happens when people and banks connect. It means person-to-person, online, via...
AFFORD congratulates the hard work and immense contributions of migrants and diasporas around the world, especially those from Africa who sent over $86 billion to loved ones. The African corridor is the most expensive global corridor for remittances, with average costs of 10-12 per cent compared...
At IAMTN we are proud to pledge our support to the IDFR, as we have done each year since its inauguration, to encourage the public and private sectors to collaborate and work together to maximise the impact of remittance funds in the developing world. Through IAMTN,...
Family remittances have a significant contribution to the economies of Latin American and Caribbean countries. UNECLAC and IFAD have worked closely with Central American governments to develop innovative strategies aimed at fostering the productive use of family remittances through financial inclusion. Providing recipients with incentives to invest...
