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35 days until GFRID 2018 
 
Key Dates:
April 9: Registration Closes
May 8 – 10: GFRID 2018

 
If you have already registered, thank you.
We look forward to seeing you in Kuala Lumpur!
GFRID 2018 A CRITICAL CONVERSATION-STARTER FOR ASIA-PACIFIC:
A STATEMENT FROM THE FORUM HOST
It is less than 40 days until the GFRID 2018 Asia-Pacific! On behalf of the organizing committee, I am glad to announce that the progress of the forum preparation has been very encouraging. The forum will feature influential and prominent speakers representing multinationals such as Ant Financial (the Fintech arm of Alibaba Group), Air Asia, Ria Money Transfer and World Remit and also researchers, development practitioners and industry leaders from international organizations, central banks and the private sector.

As you can see from the agenda (here) the forum will cover a wide range of topics from emerging business models, policies and regulation, client and investment perspectives as well as global migration. More importantly, as the first regional chapter of the GFRID series, these issues will be examined through regional lenses – to help us understand what is really happening on the ground when we talk about remittances in Asia-Pacific. 

"Family remittances to the Asia-Pacific region in 2017 totaled US$248.5 billion, providing a general metric of their enormous scale.  But no 'one number' can possibly capture the context, scope and impact of these remittances because there is not in reality  'one region.' Instead, Asia-Pacific is a collection of countries and contrasts" (IFAD, 2018).

"Worldwide, an estimated 40 per cent of the total value of remittances goes to rural areas.  Remittances to Asia Pacific, however, go disproportionately to countries with a majority of their population in rural areas: the Philippines (56 per cent), Pakistan (61 per cent), Vietnam (66 per cent), Bangladesh (65 per cent), Sri Lanka (82 per cent), and Nepal (81 per cent).  In fact, remittances were more than ten times the 2016 official development assistance from all sources to the region" (IFAD, 2018).

In terms of forum participation, we have received confirmation of attendance from participants representing more than 56 countries – this will truly be a global platform for discourses on remittances, investment and development. We are excited to welcome you to Kuala Lumpur. See you soon!

Remittances represent a tangible and concrete offering from migrant workers to their loved ones back home. The challenge from now until 2030 is to ensure that a substantial multiplier effect will apply to the projected US$6.5 trillion in aggregate remittances to be received by families living in developing countries.
 
The focus of the international community is on the achievement of the Sustainable Development Goals (SDGs) by 2030, and the private sector is key to meeting these goals. Increased financial inclusion for remittance senders and receivers involves decreasing transfer costs, which directly contributes to SDGs, particularly to lowering transaction costs to the 3 per cent goal (SDG 10.c).

In the Asia-Pacific region, at least two-thirds of remittance families (senders and receivers) still live outside the formal financial system.  Promoting greater financial inclusion benefits not only vulnerable populations such as migrants and their families, but also presents the private sector with more business opportunities. One company that has capitalized on this dual development and market opportunity is WorldRemit. The company’s statement on the upcoming Forum provides an overview of how it plans to shape the future of the remittance market in Asia-Pacific.


WORLDREMIT PLEASED TO ATTEND GFRID 2018,
SAYS SPOKESPERSON

 
Participation in GFRID 2018 gives WorldRemit an international platform to highlight the technological advances that are transforming remittances globally. We live in a world of instant global communication. Yet the business of sending money abroad has remained stuck in the past. Many money transfer companies still make their customers visit an agent and fill-out bits of paper. And despite the inconvenience, their rates are often punishing. In contrast, WorldRemit’s customers can send money directly from their smartphone app or online -  this makes sending remittances fast, secure and low-cost.
 
As innovation in mobile money is helping to drive financial inclusion across emerging markets, WorldRemit is the leading international money transfer company to connect to mobile money. Families use our services to support with essentials such education fees, healthcare costs or basic household goods.

We are particularly pleased that GFRID 2018 is being held in Malaysia.  Our business is expanding rapidly across APAC, and the region is a key strategic focus as we strive to meet our ambition of serving 10 million customers globally by 2020.  In 2017, Bank Negara approved WorldRemit to be one of only four companies to take part in its regulatory sandbox framework (Bank Negara’s regulatory parameters for innovative fintech solutions).  The importance of government support for innovation in remittances – which Malaysia exemplifies – will be one of the issues that WorldRemit will be highlighting at the forum.
Register for GFRID 2018 today to hear WorldRemit's vision and strategy for Asia from Founder and CEO Ismail Ahmed.
THE INTERNATIONAL DAY OF FAMILY REMITTANCES

GFRID2018 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 the video above (link).

DID YOU MISS THE PREVIOUS NEWSLETTERS?

CLICK THE LINK BELOW FOR PAST EDITIONS:
GFRID 2018 NEWSLETTER #2
GFRID 2018 NEWSLETTER #1

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The Forum Workshops

The GFRID 2018 Asia-Pacific will showcase four interactive workshops: 
  1. Social impact investment meets diaspora investment in rural areas: Untapped opportunities
  2. Blockchain and remittances: the new market strategies within reach?
  3.  Financial inclusion and mobile solutions
  4.  Regulation and supervision of money service: The Malaysian experience
FINANCIAL INCLUSION AND MOBILE SOLUTIONS 
 
Mobile-enabled remittances provide more convenience to end-customers while reducing the costs. In addition, wallet-based mobile remittance services allows the provision of leapfrog products catering the needs of unbanked remittance senders and recipients. The different forms of partnerships between mobile payment providers and other financial stakeholders present, in the remittance value chain roll out, an increasing array of financial options from payment to inclusive financial services.
 
The workshop will present the dominant and promising models enabling the sending or receiving of remittances through mobile phones and wallets and will discuss the key regulatory building-blocks that would support a solid backbone for cross-border and domestic partnerships.
Read more about the workshop offerings on 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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