Objective 20: Promote faster, safer and cheaper transfer of remittances and foster financial inclusion of migrants

The Sending Money Home web site is a price comparison service for sending remittances from Norway.  

The Customs Division of the Ghana Revenue Authority (GRA) grants tax incentives to diaspora, including through lower customs duties and fees, reduction in income tax rates, lower tariffs on equipment for investment, and tax deductions on charitable goods. 

The Africa Migration Project was undertaken to improve our understanding of migration and remittances in Sub-Saharan Africa, including their magnitude, causes, and impacts on poverty reduction, with a view to generating informed policy recommendations. 

Find multiple currency exchange providers using our free comparative service which will enable you to find who is offering the best rate of exchange.

The Philippines' Department of Finance has entered into bilateral negotiations with the US Treasury Department with the intent of reducing remittance costs. The means by which cost reduction is to be achieved is through the granting of rights to local banks to form agreements with their counterparts in the US, thereby enhancing access to the formal transfer systems and at the same time ensuring compliance with regulations concerning financial flows. A Memorandum of Understanding has been signed for the purpose. 

The central banks of Mexico and the US have signed an agreement that allows banks to to transmit electronic fund transfers from the USA to Mexico through the Federal Reserve Banks’ Automated Clearing House (FED - ACH).

The FedGlobal Mexico Service offers US financial institutions the added benefit and convenience of promotional materials and tools to aid in promoting the service to their customers and pre-opening accounts at participating institutions in Mexico.

The Spanish initiative seeks to enhance Remittances as an effective source of finance for development, by no means trying to substitute current flows of development aid. The Spanish initiative considers the involvement of the Public Administration, the financial sector, university circles and civil society.

By choosing to focus on Remittances Spain tries to make most of its experience as a Remittances receiving country during the 60s and 70s to help developing countries.

The State Secretariat for Economic Affairs SECO published this brochure, as a contribute to greater transparency among the various operators and services on the Swiss market. In addition, in promoting private sector development in transition and developing countries, it is helping to create attractive savings and investment opportunities on site. This encourages recipients to use the money not only for spending but also, and increasingly, for productive investments, thereby contributing to growth and job creation in their own country.

Egypt, Jordan, Morocco, Qatar, Syria, Tunisia, UAE and Yemen signed an agreement to start electronic money transfers using technology that has been developed by the Universal Postal Union (UPU).

According to the Universal Postal Union (UPU), the agreement will now allow the eight countries to exchange money orders on a multilateral basis. This is particularly valuable in countries such as the United Arab Emirates, where more than 80% of the population are foreigners, and millions of dollars are sent to home countries through remittances. 

The Banco do Brasil, the Japanese National Mail Service and several banks have agreed to cooperate to facilitate remittances transfers.