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CPSS and World Bank issue remittance report.
(From Electronic Payments International)
The Committee on Payment and Settlement Systems (CPSS) and the World Bank have issued a new report entitled General Principles for International Remittance Services, which provides an analysis of the payment system aspects of remittances and outlines principles designed to assist countries that are seeking to improve the market for remittance services.
The report examines transparency and consumer protection; payment system infrastructure; the legal and regulatory framework; market structure and competition; and governance and risk management in relation to remittances. The report has been prepared for the CPSS and the World Bank by a task force consisting of representatives from international financial institutions and from central banks in both remittance-sending and remittance-receiving countries.
Important source of income The report said that the flow of funds from migrant workers back to their families in their home country is an important source of income in ...
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