Alternative remittance systems

Harnessing the Remittance Boom

SR VI. Alternative remittance

Alternative informal remittance systems

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

E. Alternative informal remittance systems

Figure 13 Non receipt delay in receipt of benefits

There are no alternate remittance systems.

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

The remittance flow continues to be buoyant.

Receipt and deposit

(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

Remittance income formed a big part of Yemen s budget.

Has this name been circulated to alternative remittance systems?

Don't forget the receipt.

alternative remittance systems are difficult to licence or to supervise.

Do you have a receipt?

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

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

Table 2 Poverty status of households, by receipt or non receipt of remittances and sex of head of household

Non receipt of reports 80 67.

Article 47. Obligation to acknowledge receipt

Figure 16 Number of days taken to respond to complaints concerning non receipt delays in receipt of payments, 2001 2004

Article 10, paragraph 2, rules on receipt

(i) Fissile material receipt and internal movements

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

Expenditure is recorded only upon receipt and acceptance of agency financial reports, at the time of receipt, when the advance is also cleared.

1 Date of receipt of the relevant documents.

1 Date of receipt of the relevant documents.

1 Date of receipt of the relevant documents.

Other countries, however, have taken steps to make remittance transfers possible via mobile phones.

(q) Issues related to the informal and cash based economy, including alternative remittance systems

Policies and projects that facilitated the development impact of remittances must be analysed. As half of remittance senders and the majority of remittance recipients, women were playing a central role in managing and distributing such income.

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

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

(a) One General Service (Other level) post will be tasked with handling queries related to non receipt and delays in receipt of payments and bank charges.

Attention should be drawn to the correlation, in rural areas, between poverty levels and the receipt or non receipt of remittances, particularly among households headed by women.

Time and place of dispatch and receipt of electronic communications

Termination shall become effective months after receipt of the notice.

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

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).

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.