Facilitating remittance flows_cirasino

1. FACILITATING REMITTANCE
FLOWS
POLICY AND REGULATORY REFORMS TO
IMPROVE THE SAFETY AND EFFICIENCY OF THE
REMITTANCE MARKETS
Massimo Cirasino
Practice Manager
Financial Infrastructure and
Access

2. World Bank – CPMI General Principles for Intl Remittances
1
Transparency
and consumer
protection
Payment
system
infrastructure
Legal and
regulatory
framework
Market
structure and
competition
Governance
and risk
management
• Role of remittance
service providers
• Role of public
authorities

3. Over $60 billion saved since global effort started
2

4. In 75% of corridors average cost is below 10%,
corridors above 20% disappeared
3
0
20
40
60
80
100
120
140
0-5% 5-10% 10-15% 15-20% >20%
NumberofCorridorsinRange
Average Total Cost of Sending USD 200
Q2 2015
Q1 2009