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GFRID 2018 Asia-Pacific: 8-10 May
Newsletter 5

 
20 days until GFRID 2018 
 
REGISTER HERE
Key Dates:
9 April: Registration Closes
23 April: Extended Registration Closes
8 – 10 May: GFRID 2018

 
UPDATED AGENDA:
PLEASE FIND THE AGENDA WITH UPDATES INCLUDING ALL SPEAKERS AND STRUCTURE HERE.
DIGITAL INNOVATION FOR FINANCIAL INCLUSION
 
In most remittance markets, the financial goals of remittance families and the commercial strategies of financial service providers rarely meet. As a result, the potential to leverage remittances to promote financial inclusion and, in turn, generate more impact on economic growth and development is often lost. Once regulated financial intermediaries recognize this untapped market, more families can have access to remittances channels paired with other financial services (savings, loans and insurance), so that the income from remittances and other sources can be transformed and invested in the local community, thus enhancing job opportunities and elevating overall productivity.

A statement from GFRID 2018 side-event host the United Nations Capital Development Fund (UNCDF) explains how technology and cross-sectoral partnerships can maximize the impact of remittances.

MAXIMIZING THE IMPACT OF REMITTANCES: UNCDF INCLUSIVE FINANCE DIRECTOR HENRI DOMMEL

International remittances are the least volatile component of balance-of-payment inflows and household income. They have a critical role to play in smoothing household consumption, especially following economic shocks to domestic income. For least developed and developing economies, where financial access and adoption rates are low, remittances could be a natural “on ramp” for improved access to formal financial services, increasing livelihood opportunities and strengthening financial resilience.

While emerging technologies and efforts by various development and private sector partners have played a significant role in gradually declining remittance costs, unregulated remittance flows and limited offering of remittance-linked financial products continue to be important challenges in the market. These challenges do not allow migration to fully contribute to the sustainable development in the countries of origin.

This is why persistent efforts to sensitize governments against taxing remittances are needed, as it may further strengthen unregulated channels. Governments should engage with remittance service providers and regulators at the country level towards building enabling ecosystems, and apply a risk-based supervision that does not penalize emerging players who are yet to establish large-scale operations. Most importantly, partnerships amongst banks, micro-finance institutions, mobile network operators, money transfer operators, insurance providers, and fintech firms should be facilitated so that innovative remittance-linked financial products can be tested and adopted based on the tailored financial needs of the migrants and their families.

I wish to congratulate IFAD, which in a long string of successful initiatives such as the Financing Facility on Remittances, co-organizing the Global Forum on Remittances, Investment and Development (GFRID) and the International Day of Family Remittances, has engaged public and private sector stakeholders towards this important agenda. As UN Member States prepare to adopt Global Compact on Migration in December 2018, it is our collective responsibility to further establish market-enabling principles and policy frameworks that can foster financial inclusion of migrant families and help international remittances to be effectively utilized for stronger resilience, economic opportunities and domestic investments.
 

GFRID 2017 Marketplace, United Nations Headquarters, New York (USA)

THE REMITTANCE MARKETPLACE – FULLY BOOKED!
We are pleased to announce that all of the Remittances Marketplace exhibitor spaces have been filled!
 
Running in parallel to the Forum, the Remittance Marketplace will offer a unique platform for the exchange of views and ideas, addressing challenges and opportunities, as well as an occasion to meet and network. The final list of GFRID 2018 Marketplace exhibitors is as follows:
 
AFI, AZIMO , Bitspark , CIMB (Speedsend) , CONTACT , DBKL KL Tourism Bureau, Democrance , DMA, HOMESTRINGS, IAMTN, IFAD, IMTC, IOM, Local products, MAG, Malaysian Association of Money Services Business (MAMSB), Max Money, Merchantrade, NYUVO, RemitRadar, RIA, Souvenir, Tik FX, Malaysia Sdn Bhd (Tranglo), Tourism Malaysia, TransferTo, Travellex, ValYou, WBG, Western Union, Xpress Money Services Ltd.
 
Exhibitors will showcase their latest products and innovations to all forum participants, in addition to public sector entities and others. Read more about the Remittance Marketplace on the forum agenda.
 
THE INTERNATIONAL DAY OF FAMILY REMITTANCES
 
GFRID 2018 acknowledges the forthcoming International Day of Family Remittances (IDFR), celebrated every year on 16 June, aimed at recognizing the significant financial contribution migrant workers make to the wellbeing of their families back home and to the sustainable development of their countries of origin. Find more information about the IFDR in this video.

 
 
DID YOU MISS THE PREVIOUS NEWSLETTERS?

CLICK THE LINKS BELOW FOR PAST EDITIONS:

GFRID 2018 NEWSLETTER #4
GFRID 2018 NEWSLETTER #3

GFRID 2018 NEWSLETTER #2
GFRID 2018 NEWSLETTER #1

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GFRID 2018 Stakeholder Events
 
 
PROMOTING DIGITAL INNOVATION FOR INCLUSIVE AND SUSTAINABLE MARKETS IN ASIA 
  1. Promoting Digital Innovation for Inclusive and Sustainable Markets in Asia  (UNCDF)
  2. The RemTECH Seminar: Roundtable on Remittance Innovation
  3. Mobilizing Migrant Remittances for Rural Investment: IFAD's Regional Program in Asia (IFAD and ACCESS)
Asia accounts for 30 per cent of the global migration flows and 40 per cent of international remittance flows. Out of these, 35 per cent of the migrant remittances transaction happens within the region. The objective of this GFRID 2018 side event is to share the remittance flows insights from the region and have an interactive discussion with key practitioners for targeted interventions in Asia-Pacific. This would lead to improved access to digital remittance channels for migrant families in the rural areas and increased opportunity to leverage remittances as a channel to access financial services. Read more about the forum stakeholder events the GFRID 2018 Agenda.

Are you making logistical arrangements for the GFRID 2018?
Find the information note here.
For further information, please contact us at: 

registrations@gfrid2018.org | info@gfrid2018.org
Kuala Lumpur office: +603-2691-6545 | Rome office: +39-06-5459-5066
 
 
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