eBook

The Germany-Serbia remittance corridor : challenges of establishing a formal money transfer system

Endo, Isaku, Barberis, Corrado, Luna-Martinez, Jose de

2006

Overview

Serbia has become one of the largest remittance-recipient countries in the world. It is estimated that in 2004 Serbia received US2.4 billion dollars in remittances from Serbian workers in Germany, the United States, Austria, Switzerland, Italy, and other countries. This amount represented 12 percent of Serbia’s GDP. This report provides an overview of remittance flows from Germany to Serbia and analyzes why a large part of remittance transfers take place outside financial institutions. The study presents a series of recommendations on needed policy changes to facilitate the transfer of remittance flows from the informal channels to licensed or registered financial institutions, thereby maximizing the developmental impact of remittances, reducing remittances fees, improving data collection practices, and strengthening the regulation and supervision of themoney transfer industry.

• Publisher: World Bank,World Bank Publications,The World Bank,Washington, DC: World Bank
• Subject: ACCOUNT HOLDERS / AMOUNT OF REMITTANCES / ANTI-MONEY LAUNDERING / ASYLUM-SEEKERS / AUTOMATIC TELLER / BALANCE OF PAYMENT / BALANCE OF PAYMENT STATISTICS / BALANCE OF PAYMENTS / BANK / BANK ACCOUNT / BANK ACCOUNTS / BANK BRANCH / BANK BRANCHES / BANK DEPOSITS / BANKING INDUSTRY / BANKING SECTOR / BANKING SYSTEM / BENEFICIARIES OF REMITTANCES / BUS DRIVERS / CASH VALUE / CHARTER / COMMERCIAL BANK / COMMERCIAL BANKS / COMPENSATION OF EMPLOYEES / COOPERATIVE BANKS / CREDIT CARDS / DATA ON REMITTANCES / DEBIT CARD / DEBIT CARDS / DEPOSITS / DEUTSCHE MARK / DEVELOPMENTAL IMPACT / DEVELOPMENTAL IMPACT OF REMITTANCES / DIASPORA / DISTRIBUTION OF REMITTANCES / ECONOMIC GROWTH / ELECTRONIC TRANSFER / ELECTRONIC TRANSFERS / Emigrant remittances -- Germany / Emigrant remittances -- Serbia and Montenegro / ESTATE / EURO / EXCHANGE RATE / FINANCIAL INSTITUTION / FINANCIAL INSTITUTIONS / FINANCIAL INSTRUMENTS / FINANCIAL PRODUCTS / FINANCIAL SERVICES / FLOW OF WORKERS / FOREIGN BANKS / FOREIGN EXCHANGE / Foreign exchange -- Germany / Foreign exchange -- Serbia and Montenegro / FOREIGN EXCHANGE RESERVES / FOREIGN EXCHANGE SPREAD / FOREIGN WORKERS / Germany / HOME COUNTRIES / HOME COUNTRY / HOUSING / IMPORTANCE OF REMITTANCES / INCOME / INFORMAL CHANNELS / INFORMAL ECONOMY / INSURANCE / International economic relations / International finance / INTERNATIONAL PAYMENTS / LARGE CITIES / LIMITED / LOCAL CURRENCY / MIGRANT WORKERS / MIGRANTS / MIGRATION / Money / MONEY DELIVERY / MONEY HOME / MONEY ORDER / MONEY ORDERS / MONEY TRANSFER / MONEY TRANSFER COMPANIES / MONEY TRANSFER COMPANY / MONEY TRANSFER INDUSTRY / MONEY TRANSFER OPERATOR / MONEY TRANSFER OPERATORS / MONEY TRANSFER PRODUCT / MONEY TRANSFER SERVICES / MONEY TRANSFER SYSTEM / MONEY TRANSFERS / MONEY TRANSMITTERS / MORTGAGE BANKS / MORTGAGES / NATIONAL / NATIONAL BANK / PARTNERSHIP / PAYMENT OF REMITTANCES / PAYMENT SYSTEMS / PERSONS / PRIVATE BANKS / RECIPIENT HOUSEHOLDS / RECIPIENTS OF REMITTANCES / REFUGEES / REGIONAL BANKS / REMITTANCE / REMITTANCE AMOUNT / REMITTANCE CHANNELS / REMITTANCE CORRIDORS / REMITTANCE FLOWS / REMITTANCE INFLOWS / REMITTANCE MARKET / REMITTANCE MARKETPLACE / REMITTANCE PRODUCTS / REMITTANCE SENDERS / REMITTANCE SERVICE / REMITTANCE SERVICE PROVIDERS / REMITTANCE SERVICES / REMITTANCE SYSTEMS / REMITTANCE TRANSACTION / REMITTANCE TRANSACTIONS / REMITTANCE TRANSFER / REMITTANCE TRANSFERS / REMITTANCE-RECEIVING HOUSEHOLDS / REMITTANCES / REMITTANCES FLOWS / RISK MANAGEMENT / SAVINGS / SEND MONEY / SEND MONEY HOME / SEND REMITTANCES / SOCIETY / SUBSIDIARY / TEMPORARY WORK / TOTAL AMOUNT OF REMITTANCES / TRANSFER CASH / TRANSFER MONEY / TRANSFER SYSTEMS / TRANSPORT / UNION / UNIVERSAL BANKS / Wealth
• ISBN: 9780821366585, 0821366580, 0821366599, 9780821366592