Central Banking

General principles for intl remittance services

The Committee on Payment and Settlement Systems (CPSS) and the World Bank issued a report Tuesday 23 January which provides an analysis of the payment system aspects of remittances, to assist countries that are seeking to improve the market for remittance services.

The report contains five general principles, covering: transparency and consumer protection; payment system infrastructure; the legal and regulatory framework; market structure and competition; and governance and risk management. The

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