Remittance

On the African continent, Egypt, Equatorial Guinea, Chad, Libya and South Africa are important source countries of remittance flows to Nigeria, while China is the biggest remittance-sending country in Asia.

But Nepal cannot depend on remittance forever, especially as we need workers at home to stimulate the agriculture sector, manufacturing, construction and tourism, which in turn will create more domestic jobs.

By embedding remittance services directly into these banking platforms, institutions can offer a holistic financial experience and further deepen trust and relationships with their customers.

By leveraging the Maya app, including Maya Bank, to facilitate fast, secure, and low-cost remittance, we’re meeting a vital need in making transactions safer and more convenient,” Shailesh Baidwan, Maya Group president said.

Diaspora remittance in Kenya is now contributing more to the country’s overall bottom-line than some of its actual exports.

During court proceedings on Wednesday, he argued that the decision by the parole board to deny his remittance be reviewed and set aside.

He said going forward, the outlook appeared promising, occasioned by substantial net remittance inflow, private investment, and a rebound in tourism.

He said their visit to Delta was informed by the state’s prompt remittance to the NHF and called on the governor to urge local government councils in the state to comply with the remittances.

He was equally accused of misappropriation of funds received from the national body of the Party as remittance from payments for the purchase of forms by aspirants from the State.

Inflow of remittance, one of the key pillars of Bangladesh economy, fell 15 per cent on quarter-to-quarter basis too.

It is required only if the investor or its representative will purchase FX from AABs and/or their subsidiary/affiliate foreign exchange corporations for repatriation of capital and remittance of earnings that accrue on the registered investment.

Nigerian Airspace Management Agency (NAMA) has joined calls for the exemption of aviation agencies from the Treasury Single Account (TSA) policy and attendant remittance of 40 per cent of earnings to the Federation Account.

Q. What is the potential for RaaS (Remittance as a Service) in the coming years?

Remittance flows to Europe and Central Asia are estimated to have declined by 1.4% to $78 billion in 2023.

Remittances to Vietnam totalled $19 billion last year, making it one of the world’s top 10 remittance recipient countries, local media reported.

The acquisition of a Money Remittance Business licenses from the Bank of Uganda and from the Central Bank of Nigeria, following the same from Canada, further strengthens our position as a trusted solutions provider that takes regulations seriously.

The Commission noted that remittance of the statutory contribution which should have served as succour to the host communities has sadly become a source of pain to the lawful beneficiaries.

The Cooperation Network Teller Machine (CTM) connects cooperatives and rural banks to the traditional bank network, as well as to remittance centers and e-wallets.

The Monetary Authority of Singapore on Monday said integration of India's Unified Payment Interface (UPI) and equivalent network in Singapore, known as PayNow, will begin anytime soon, which in turn will reduce the remittance cost by 10 per cent.

This collaboration between Centi and Centbee showcases the transformative potential of blockchain technology to revolutionise global remittance services.