Central Banking

Rules found to hinder remittance payments

Regulatory compliance is the main barrier to doing business in the area of workers' remittance payments, according to a poll of Sibos delegates.

After largely ignoring the remittance world, the banking sector is starting to realise the potential in a market estimated conservatively by the World Bank to be worth $270billion.

Anti-money-laundering requirements have tended to drive the price of processing remittance payments up, which has led to consumers using money transmitters and the grey and

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