Informal Money Transfer Systems : Opportunities and Challenges for Development Finance

By Kinniburgh, Ian

Book Id: WPLBN0000661186
Format Type: PDF eBook
File Size: 269.21 KB.
Reproduction Date: 2005

Title:	Informal Money Transfer Systems : Opportunities and Challenges for Development Finance
Author:	Kinniburgh, Ian
Volume:
Language:	English
Subject:	Trade, Import and export controls, Export controls--United States
Collections:	Export and Trade Collection
Historic Publication Date:
Publisher:	Federal Trade Commissionn (FTC)


Citation APA MLA Chicago Kinniburgh, I. (n.d.). Informal Money Transfer Systems : Opportunities and Challenges for Development Finance. Retrieved from http://self.gutenberg.org/

Description
Export and Trade Government Reference Document:

Excerpt
Excerpt: DESA Discussion Paper Series: DESA Discussion Papers are preliminary documents circulated in a limited number of copies and posted on the DESA website to stimulate discussion and critical comment. This paper has not been formally edited and the designation and terminology used do not imply the expression of any opinion whatsoever on the part of the United Nations Secretariat. Citations should refer to a ?Discussion Paper of the United Nations Department of Economic and Social Affairs.?...

Table of Contents
Contents Page I. Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 II. Main types and characteristics of informal money transfer systems . . . . . . . . . . . . . . 1 How the hawala system works. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 How the fei ch'ien system works . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Other remittance systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 III. Reasons for the continued existence and use of informal money transfer systems. . . 4 IV. Policy measures to promote legitimate remittances . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Migrant-specific policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Creating macroeconomic incentives to remit through institutional channels . . . . . . . 8 Improving conventional financial infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Formalising informal systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 V. Concluding remarks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Figures 1. Flow of activity in a typical hawala transaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 2. Sample of hawala bookkeeping . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16