Issue 1 - 9 May 2013

Over 370 participants from over 83 countries have registered, and counting..

  UNCC6  

From 20 to 23 May 2013, Bangkok will be the centre of worldwide discussions on remittances and their impact on the economy of developing countries. The upcoming Global Forum on Remittances (GFR) is attracting hundreds of participants with different regional, professional and cultural backgrounds from all over the world, among which government officials, policy analysts, business leaders, international experts, researchers and various other stakeholders, with the promise of exciting debates on the impact of remittances on development. With less than two weeks to the GFR 2013, over 370 participants from 83 countries have already secured their participation - including dignitaries from ministries, central banks and regulators from all continents, officials from the international organizations, key private sector entities active in the field of remittances, representatives from the academic world and, civil society representatives.

During the course of the Forum, participants will discuss and define concrete ways in which they can contribute to maximizing the positive impact of remittances for development in the spirit of shared responsibilities, and engage in a concrete dialogue between governments, the public and private sectors, and the civil society.

The presence of over 50 governmental bodies - including ministries, specialized  government agencies, regulating bodies, postal networks, and other local authorities - will highlight the fundamental role of migrant workers and remittances in the development of local and global economies.

Furthermore, the Forum will see the participation of over 140 representatives from the private sector belonging to a broad range of organizations, including important representatives from commercial banks, money transfer operators, mobile and telecommunications companies, MFIs, and non-profit organizations.

To complete the panorama, representatives of over 60 civil society organizations and more than 30 international development organizations, international finance institutions, and UN Agencies will be present at the Forum to highlight the key role that migrant workers have in the development of their communities back home. 

As the preparations for the event are being finalized, we look forward to welcome those who have confirmed their participation and encourage those who have not yet done so to register and secure their place at the upcoming Global Forum Remittances 2013.


USD 1 trillion in remittances: key to rural development

  Cleaver  
 

 

Kevin Cleaver, IFAD Associate Vice President, Programme Management Department
   

Migrants will send US$1.5 trillion in remittances to rural areas in developing countries in the next five years.
IFAD is a United Nations agency with a mandate to eradicate rural poverty.  Two hundred million rural people live in poverty. IFAD has acknowledged the fundamental role played by migrant workers and the remittances they send as important agents of development and poverty reduction, and consequently has included this topic as an area of its intervention.

IFAD’s Financing Facility for Remittances has been working in over 40 countries since 2006. The Facility has been carrying out on-the-ground testing of models to help account for national remittance flows, support the creation of low-cost remittance transfer mechanisms, expand cross-selling of financial services, and promote investment opportunities in rural areas which can profitably absorb remittance money.

IFAD has worked with the international community and the Group of 20 (G20 countries) to promote the development impact of remittances. The Global Forum on Remittances is an integral part of our strategic advocacy approach to remittances. The event plays a key role in acting as a platform for policy dialogue on the topic of remittances, and in creating an inclusive global community of practice where the public, private and civil society sectors exchange views and lessons learned.

The 2013 Global Forum on Remittances will be the fourth of its kind and aims to address the largest remittance market in the world – the Asian continent. In Asia, US$260 billion remittances are sent home annually by over 60 million migrant workers. With this in mind, we believe that the Forum will prove to be a useful platform to permit the international community to  develop a regional agenda on this important phenomenon.

This said, we look forward to seeing you in Bangkok!

Kevin Cleaver, Associate Vice President, Programme Management Department


Global Remittance Working Group: Message from Massimo Cirasino

Message from Massimo Cirasino, Manager, Financial Infrastructure and Remittances, The World Bank

  Cirasino  
 

 

Massimo Cirasino, Manager, Financial Infrastructure and Remittances, The World Bank
   

We are very pleased to co-host with IFAD this Forum, which will bring together a wide array of stakeholders in the area of international remittances. The Forum will provide a platform where different players share experiences and good practices on transparency, payment systems infrastructures, legal and regulatory framework, competition and developmental impact of international remittances.

Over the past decade, there have been many developments in these areas. Establishing an internationally agreed framework by the BIS-CPSS and the World Bank - together with regulators/overseers and international organizations - marked a significant achievement in 2007. International fora have committed to better facilitate remittance flows. Many countries have initiated a path of reforms in many aspects of the remittance market, introducing innovation in payment systems infrastructures, improving the legal environment and fostering consumer protection and transparency. In line with international commitments, remittance costs are declining gradually at the global level and drastically in some countries. However, there are still many challenges to developing and sustaining an enabling environment that fosters innovation and competition while achieving safety, efficiency, and integrity of remittance services. In particular, access to basic financial services is still a major challenge in many parts of the world due to the lack of adequate payments infrastructure and regulatory conditions

We are looking forward to the Forum and are sure that participants will have the opportunity to exchange their views on the challenges facing the remittances market as well as identifying some solutions and business opportunities. We are also convinced that the Forum will enable diverse participants to exchange dynamic views on how to accelerate the global efforts by both public and private sectors towards further reducing the global remittance costs in the next months

See you in Bangkok!!!

Massimo Cirasino, Manager, Financial Infrastructure and Remittances, the World Bank


Remittances to Asia: the largest market in the world

For the first time in the history of the Global Forum on Remittances, IAMTN will participate as a co-organizer jointly with IFAD and the World Bank. This fourth Global Remittances Forum, will take place this May in Bangkok and focus on both the global and the Asian remittance market. At IAMTN we are very glad to see that this will be the first time that a significant number of actors from across the private, governmental, civil society and regulatory sectors will gather in one place to discuss the challenges and opportunities presented by the huge global flows of remittances.

IAMTN

Why is this significant for the private sector? While there is a massive development agenda surrounding remittances, what is less understood is what this means for the private sector and how they can tap into this agenda.

Governments, regulators and civil society groups have a number of strategic objectives. These include encouraging these flows and leveraging them for economic development, promoting access to financial services, and creating a transparent and inclusive financial sector. Key to meeting these objectives is looking beyond the initial cross-border transaction to the many transactions and relationships on the receive side: How is the remittance received? How is it saved, invested or spent? How do people make further payments with those remittance funds?

With a number of issues surrounding a lack of financial infrastructure and access to financial services, there is a clear opportunity for the private sector to engage in new markets, and provide innovative solutions that address the needs of remittance receivers as well as the objectives of the groups present at the forum.

The private sector can also actively participate in setting the remittance agenda.  This forum is a unique opportunity to have a say in the debate surrounding policies and regulations that impact international money transfer, and speak directly to government representatives and regulators who seek transparency and security.  The private sector can learn about opportunities for partnerships. They can also learn from governments and civil society groups about their diaspora engagement strategies (which several Asian countries have exemplary examples of) as a way of better understanding their needs as a potential customer base and how to reach out to them.
There is a need for dialogue amongst the various actors that are involved in this space, as each can benefit in various ways from sharing innovations, best practices and needs. The private sector is uniquely placed to pioneer these innovations and this forum provides a fantastic jump-off point to develop relationships amongst a range of actors.


The "Marketplace” of the GFR 2013: The Place to Network

Coffee breaks, lunch breaks, pauses in between panels and sessions are undoubtedly a fertile ground for networking, exchanging comments and innovative ideas, but above all, for building partnerships…

  marketplace  

In Bangkok, for the entire duration of the Global Forum for Remittances (GFR 2013) hosted at the modern United Nations Conference Centre (UNCC), participants will have the opportunity to meet at “The Marketplace”, a dedicated area between the two main conference rooms where the various sessions of the event will take place, and obtain information from other stakeholders, setup partnerships and exchange innovative ideas.

The “Marketplace” will be comprised of thirty booths, where representatives from international organizations, the public sector, commercial banks, industry and civil society organizations from all over the Asia-Pacific region and the world will welcome participants with valuable information and new publications, with a focus on “meeting” rather than “showcasing”.

At the “Marketplace”, participants will be given the opportunity to meet potential project partners, find initiatives to participate to, collect information on innovative programmes aimed at leveraging the role of remittances for development, get in touch with stakeholders, participate in discussions, and promote their own activities or future events..

Open discussions and easy access to all information and stakeholders working on issues related to remittances will find their natural place at the “Marketplace”.

The organizations displaying at the “Marketplace” are:

AFI

INAFI

Unidos

Atikha

IOM

UNISTREAM

AusAID

Master Card

UNCDF

Basug

MoneyNet

UN Women

CGAP

Oxfam Novib

UPU

DMA

Passport FX Australia

VeriFone Mobile Money

EUROGIRO

RemitONE

Western Union

European Union

Russlav Bank

World Bank

IAMTN

TimesofMoney

WSBI/ESBG

IFAD

UAE Exchange