Developing countries are the main beneficiaries of remittances, accounting for 65 of all inflows.

Such remittances totalled 80 billion in 2002, and it is estimated that this year they will total more than 100 billion.

If remittances are measured in terms of their share in the GDP, the largest recipient countries are Tonga, Lesotho and Jordan.

Remittances are relatively concentrated in a group of 20 developing countries, which stand for 80 of total world remittances.

The market and the costs of remittances

The application of the United Nations rates of exchange at 1 January 1998 will result in a foreign exchange loss of 866,000 and decrease the value of the call accounts and time deposits to 397,576,000.

Table 2 Summary of main areas of increase decrease

The table provides a summary of the contributions of 100,000 and higher received during 1997.

Create different kind of subtotals to a list or database

a Sum of cash and term deposits and the cash pool.

Remittances.

They should also adopt specific policies to affect volumes of remittances, remittance transfer mechanisms, management of remittance funds, the use of remittances and diaspora contributions to development.

Facilitation and reduction of the cost of transfer of migrant remittances

60 206. Facilitation and reduction of the cost of transfer of migrant remittances

Facilitation and reduction of the cost of transfer of migrant remittances

Regulate informal value transfer systems, such as hawalas.

The aggregate of accounts receivable, advances and deposits as at 31 December 2003 totalled 7,109,934.

The Panel notes that the banks in Iraq, for reasons unrelated to the depositors, continued receiving funds from the workers for transfer and issued payment orders after 5 April 1991.

The total amount of remittances flows around the world has been increasing steadily over the past decades.

Fostering the channelling of remittances through financial institutions ( bancarization').

When your money order comes, or you can send it, whatever.

One Member State said that as a result of the freezing of the assets of the listed entity Al Barakaat, unlisted depositors could not gain access to their savings or uncollected remittances.

These increases are further detailed by appropriation line and location in summary table I by organizational unit and in summary table II by major expenditure category. The cost increase is attributable to the following factors

Cape Verde received 34 of its GDP from remittances, Eritrea 38 and Burundi 23 . In Asia, the figures were 30 for Afghanistan and 38 for Tajikistan, while in Europe Moldova received 31 of its GDP from external sources.

The resources captured with the microdeposits will be released as microcredits promoting thus productive activity in the recipient country.

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Subtotal

Subtotals

Grand Total

B. Summary

Despite the fact that most remittances are generally used for consumption, an improvement on the regulatory framework aiming at promoting an orderly development of credit and popular savings institutions, protecting savings and increasing the supply of financial services to micro, small and medium enterprises might encourage the channelling of remittances through microdeposits in these institutions.

37. The aggregate of accounts receivable, advances and deposits as at 31 December 1997 totalled 172,905,000, including the accounts of the greeting card and related operations, which totalled 130,074,000.

The relatively low deposit GDP ratio was, at the end of 1996, about 57.5 per cent.

Transfers and remittances

Reducing the costs of remittances

(i) Cash and term deposits comprise funds on deposit in interest bearing bank accounts, certificates of deposit and call accounts

c Represents gain on exchange from revaluation of accounts payable expressed in local currency.

Annexes A. Summary statement

A. Summary of resources

Developing countries are the main beneficiaries of remittances, accounting for 65 of all inflows.

e) How much of the non transferred funds were deposited by the Egyptian workers after 2 August 1990? .

Total funds available consist of voluntary contributions, interest and miscellaneous income, currency exchange adjustments, transfers and adjustments, and beginning fund balances.

Alternative remittance systems

Capital flows and remittances

4310 Prohibition of foreign exchange allocation