The World Bank Group published a report in 2010 which aims to analyze the legal and regulatory framework and identified a standard approach to the remittance sector. The remittance sector is functioning based on cross-border person-to-person payments of relatively low value. This report identifies the reasons the remittance sector has to be standardized. One of [...]

This report presents an overview of the operation of international transactions in remittances. The report focuses on demography, transaction channels and regulatory aspects of remittances. Other issues the report covers are: The concepts and components of remittances; The data sources and estimation methods of international transactions; The compilation and data processing issues in the international [...]

The Risk-Based Approach Guidance for Money Service Businesses is divided into three sections. Firstly, the report underlined the usage of the guidance and purpose of the risk-based approach presenting the background, purpose, benefits and challenges of the Risk-Based Approach. Secondly, guidance for public authorities are analysed as well as the high-level principles for creating a [...]

The Word Bank published a report on general principles for international remittance services in January 2007. The report focuses on the issues listed below: The analysis of the key issues concerning remittance services such as the lack of transparency and understanding, infrastructure issues, legal and regulatory framework, lack of competitive market conditions and risks. General [...]