eBook

The Qatar-Nepal remittance corridor : enhancing the impact and integrity of remittance flows by reducing inefficiencies in the migration process

Endo, Isaku, Afram, Gabi G

2011

Overview

Remittance inflows play a crucial role in Nepal's economy. Officially recorded remittances already amounted to almost a quarter of the Gross Domestic Product (GDP) in 2009. The 2008-09 global economic crises resulted in slower growth of remittance inflows in Nepal, leading directly to lower disposable income. This is a telling reminder of the importance of promoting a supportive environment for remittances. Nepali migration continues to increase as workers seek greater economic opportunities abroad. In this quest, Qatar is one of the important migration destinations for Nepali migrant workers. This report analyzes the migration and remittance transfer processes in the Qatar-Nepal Corridor in order to provide policy recommendations that would help improve the scale and impact of remittance transfers from Qatar to Nepal, and enhance the efficiency and integrity of migration and remittances in the corridor. The report identifies challenges in the migration process from Nepal to Qatar (related to high migration costs and their financing) and constraints in the remittance transfer process from Qatar to Nepal, which together limit the development and poverty reduction impact of remittance flows to Nepali households. As this report highlights, the Qatar-Nepal remittance corridor has several distinctive features. First, the majority of remittance flows from Qatar to Nepal are being transferred through officially regulated remittance channels. One of the reasons for this is actually the second feature of this corridor, namely, the officially managed migration process from Nepal to Qatar (as a result of which the majority of migrants are documented workers). The third feature is the contrast between the high competition and low prices of remittance services in this corridor on the one hand, and the contradictory rules and high costs incurred during the migration process on the other hand. Finally, as a by-product of the complex migration process which involves multiple players, financial transfers through informal mechanisms take place from Nepal to Qatar in order to pay the commissions of manpower agencies and middlemen.

• Publisher: World Bank,World Bank Publications,The World Bank
• Subject: ABUSE / ACCOUNT-TO-ACCOUNT / ACCOUNTABILITY / ACCOUNTING / ANTI-MONEY LAUNDERING / BABY / BANK ACCOUNT / BANK ACCOUNTS / BANK BRANCH / BANK DATA / BANK DRAFTS / BANK GUARANTEE / BANK GUARANTEES / BANKING SERVICES / BANKS / BEST PRACTICES / BORROWER / BRANCH NETWORK / BUS SERVICE / CASH TRANSFER / CASH-TO-CASH / CENTRAL BANK / CENTRAL BANKS / CHECKING ACCOUNTS / CHECKS / COLLATERAL / COLLECT CASH / COURIER SERVICES / CREDIT GUARANTEE / CREDIT TRANSFER / CREDIT TRANSFERS / CURRENCY / CURRENCY TRANSACTION / DEBIT CARDS / DEFAULT RISK / DEPOSIT / DEPOSIT ACCOUNTS / DEPOSITS / DEVELOPING COUNTRIES / DEVELOPMENT BANK / DEVELOPMENT BANKS / DISBURSEMENT / DISBURSEMENTS / DISEASES / DISSEMINATION / DUE DILIGENCE / Economic aspects / ECONOMIC CONDITIONS / ECONOMIC DEVELOPMENT / ECONOMIC GROWTH / ECONOMIC OPPORTUNITIES / ELECTRONIC FUNDS / ELECTRONIC FUNDS TRANSFER / ELECTRONIC TRANSFERS / Emigrant remittances / Emigrant remittances -- Nepal / Emigrant remittances -- Qatar / EMIGRATION / Emigration and immigration / EMPLOYMENT / EXCHANGE COMMISSION / EXCHANGE RATE / EXCHANGE RATE MOVEMENTS / EXCHANGE RATES / FAMILY MEMBERS / FINANCIAL FLOW / FINANCIAL INFORMATION / FINANCIAL INSTITUTION / FINANCIAL SERVICES / FINANCIAL STABILITY / FOREIGN BANKS / FOREIGN CURRENCY / FOREIGN EXCHANGE / FOREIGN EXCHANGE RATE / FOREIGN WORKERS / FRAUD / GROSS DOMESTIC PRODUCT / HOST COUNTRIES / HOST COUNTRY / HUMAN DEVELOPMENT / IMMIGRATION / INCOME / INFORMAL CHANNELS / INFORMAL TRANSFER / INFORMAL TRANSFERS / INSURANCE / INTEGRITY / INTEREST RATES / INTERNATIONAL BANK / INTERNATIONAL MONEY ORDERS / INTERNATIONAL MONEY TRANSFER / INTERNATIONAL MONEY TRANSFER OPERATORS / ISSUANCE / JOB OPPORTUNITIES / LABOR FORCE / LABOR MARKET / LACK OF AWARENESS / LAWS / LEGAL FRAMEWORKS / LEGAL STATUS / LIFE INSURANCE / LIQUIDITY / LIQUIDITY MANAGEMENT / LIQUIDITY RISK / LIQUIDITY RISKS / LIVING STANDARD / LOAN / LOAN REPAYMENT / LOCAL BANKS / LOCAL CURRENCY / LOCAL MONEYLENDERS / MARKET COMPETITION / MARKET CONDITIONS / MARKET PLAYERS / MARKET SHARE / MIDDLEMAN / MIDDLEMEN / MIGRANT / MIGRANT LABOR / MIGRANT OUTFLOWS / MIGRANT WORKER / MIGRANT WORKERS / MIGRANT WORKFORCE / MIGRANTS / MIGRATION / MIGRATION POLICIES / MIGRATION PROCESS / MOBILE PHONE / MOBILE PHONES / MONETARY FUND / MONEY EXPRESS / MONEY GRAM / MONEY LENDER / MONEY ORDER / MONEY ORDERS / MONEY TRANSFER / MONEY TRANSFER COMPANIES / MONEY TRANSFER OPERATOR / MONEY TRANSFERS / NATIONAL POPULATION / NATIONALS / NEGOTIABLE INSTRUMENTS / Nepal / Nepal -- Emigration and immigration -- Economic aspects / PAYMENT SERVICES / PAYMENT SYSTEM / PAYMENT SYSTEMS / PHYSICAL CASH TRANSFER / POLICY DIALOGUE / POLITICAL INSTABILITY / POLITICAL UNCERTAINTY / POPULATION DIVISION / POPULATION INCREASE / PORTFOLIO / POSTAL SERVICE / PRIVATE COMMERCIAL BANKS / PULL FACTORS / PUSH FACTORS / Qatar / Qatar -- Emigration and immigration -- Economic aspects / REGULATORY CONSTRAINTS / REGULATORY FRAMEWORK / REGULATORY FRAMEWORKS / REMITTANCE / REMITTANCE FLOWS / REMITTANCE INFLOWS / REMITTANCE MARKET / REMITTANCE OUTFLOWS / REMITTANCE SERVICES / REMITTANCE TRANSFER / REMITTANCE TRANSFERS / REMITTANCES / REPATRIATION / REPAYMENT / REPRODUCTIVE HEALTH / RESERVE / RESERVE BANK / RESERVE BANK OF INDIA / RESERVES / RESPECT / RETURN / RURAL AREAS / SAVINGS / SAVINGS ACCOUNTS / SECURITIES / SERVICE PROVIDER / SERVICE PROVIDERS / SKILLED WORKERS / SKILLS DEVELOPMENT / SOCIAL DEVELOPMENT / SUBSIDIARY / TAX / TAX DEDUCTIONS / TEMPORARY MIGRATION / TERRORISM / TRADING / TRANSACTION / TRANSACTION COSTS / TRANSFER CHANNELS / TRANSFER COSTS / TRANSFER FEE / TRANSFER FEES / TRANSFER MECHANISMS / TRANSFER OF FUNDS / TRANSFER PROCESS / TRANSFER SYSTEM / TRANSPARENCY / TRANSPORT / TRANSPORTATION / UNEMPLOYMENT / UNSKILLED WORKERS / WAGES / WIRE TRANSFERS / WORK MIGRATION
• ISBN: 9780821370506, 0821370502