Alternative remittance systems

As half of remittance senders and the majority of remittance recipients, women were playing a central role in managing and distributing such income.

There are different approaches to the problem, particularly between remittance source States and remittance receiving States.

Harnessing the Remittance Boom

SR VI. Alternative remittance

Alternative informal remittance systems

I'm sorry, without an I.D. you cannot receive a remittance.

E. Alternative informal remittance systems

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

There are no alternate remittance systems.

The remittance flow continues to be buoyant.

(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

Has this name been circulated to alternative remittance systems?

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

alternative remittance systems are difficult to licence or to supervise.

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

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

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

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

Other forms of alternative remittance system, such as hundi or hawala, could be discussed here.

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

The principal remittance receiving States appear to prefer a soft, incentive based approach meant to improve public accessibility to the formal banking systems.

It is not thought that licensing alone would prevent alternative remittance systems being used by terrorists.

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).

Two of those cases one filed by a charity, Benevolence International Foundation, and the other by money remittance firms and a related individual were dismissed years ago.

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.

(d) African authorities should view capital and remittance flows as an important part of their national economic statistics.

She received a doctor's degree.

We haven't received a telegram.

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.

Many small developing countries also receive remittance flows that are significant as a share of GDP or in per capita terms Lebanon, Lesotho, Tajikistan and Tonga are examples.

Steve received a letter from Jane.

I received a letter from her.

He received a golden watch as a prize.

I have received a letter from a friend.

(d) States should consider publishing the names and locations of registered alternative remittance system operators on a regular basis, or making a list available on the Internet, so as to expose unregistered operators

(a) States not prepared to ban alternative remittance systems should be encouraged at least to register, and preferably to licence them, with prosecution available for all unregistered or unlicensed operators

RESTRICTIONS OR REGULATIONS, if any, applicable to alternate remittance systems generally, any group can be incorporated under the Companies Act 1995, a non profit company is usually limited by guarantee.

I received a letter three months later.

An additional payment was released when the partner had justified the use of the funds (at least 70 per cent of previous instalments) through the remittance of a subproject monitoring report.

An additional payment was released when the partner had justified the use of the funds (at least 70 per cent of previous instalments) through the remittance of a subproject monitoring report.