Global Forum on Remittances, Investment and Development 2018

Transcription

1 Global Forum on Remittances, Investment and Development 2018 Asia-Pacific P R O G R A M M E The road to the 8-10 May 2018 Kuala Lumpur, Malaysia info@gfrid2018.org registrations@gfrid2018.org In collaboration with

2 Table of contents Table of contents... II The GFRID The Global Forums...2 The Global Context...3 International Day of Family Remittances 16 June...4 GFRID 2018 Overview...5 Private Sector Day 8 May...6 Technical Workshops and Stakeholder Events 9 May...11 Public Sector Day 10 May...14 The RemTECH Awards...18 The Remittance Marketplace...19 List of Speakers...20 List of Participants...24 The Organizers...28 The Partners...29

3 The GFRID 2018 Since its inception over ten years ago, the Global Forum on Remittances, Investment and Development (GFRID) has served as a platform to raise awareness, facilitate dialogue and promote collaboration on the contribution of migrant remittances to development. By bringing together Member States, international organizations, private sector and civil society, the Forum allows stakeholders to showcase good practices and build partnerships to leverage the role of remittances in countries and communities of origin towards achieving the Sustainable Development Goals (SDGs). The GFRID 2018 Asia-Pacific will build on recommendations made during the GFRID 2017 in New York, and will highlight the latest findings and linkages between remittances and development in Asia-Pacific, particularly in the context of the 2030 Agenda for Sustainable Development, the SDGs and the process towards the adoption of the Global Compact for Safe, Orderly and Regular Migration. Bank Negara Malaysia will host the GFRID 2018, in collaboration with IFAD and the World Bank Group. Organizing partners include: AFI Alliance for Financial Inclusion CGAP Microfinance Gateway GSMA Mobile for Development IAMTN International Association of Money Transfer Networks IMTC International Money Transfer Conferences MAMSB Malaysia Association of Money Service Business WSBI World Savings and Retail Banking Institute Main objectives The GFRID 2018 intends to: scale-up the debate initiated during the Global Forum on Remittances, held in Bangkok in 2013, of exploring the recent developments and discuss the latest challenges, opportunities and concrete innovations from the previous Forums, in light of the Global Compact for Migration; update the stakeholders on findings and realities from recent initiatives in the region; further engage the public sector and regulators in creating an enabling environment to boost the development impact of remittances, and bridging the private and public sectors as well as the civil society; create a collaborative platform on remittances to provide solutions to existing challenges and share Malaysia s experiences particularly in terms of regulation and supervision of the remittance industry; and identify adapted and scalable models of intervention and partners to implement future operations, particularly in the fields of (i) rural finance and financial inclusion, and (ii) financing agriculture through diaspora investment. Specific objectives The Forum aims to: highlight the contribution of migrant remittances and diaspora investment in Asia-Pacific to achieve the SDGs and their targets; share good practices to leverage remittances for development in the Asia-Pacific marketplace, including through public-private partnerships; identify measures to reduce the cost of remittances, through innovative business models and the use of modern technologies; assess barriers and other constraints to lower remittance costs, promote diaspora investment and facilitate financial inclusion; explore innovative financing solutions to unlock migrant investments; highlight sustainable and innovative business models that expand current remittance markets and create synergies with other financial markets and products; promote national development strategies that allow for scaling up successful business models and strategies involving migrant and diaspora contributions; and provide concrete, actionable recommendations to leverage the potential of diaspora investment and migrant remittances towards the adoption of a Global Compact for Migration in Outcomes The GFRID 2018 Asia-Pacific would prompt the creation of a multi-stakeholder platform on remittances, investment and development, to build regional ownership, and to provide continuity to the previous achievements, with the ultimate goal of feeding the dialogue on remittances, investment and development from a regional perspective and upscale the past successful initiatives. Broadly, the GFRID 2018 Asia-Pacific will have a future legacy and meaningful follow-up actions culminated and documented in a list of Forum recommendations for ease of reference. The Forum will be replicated in other regions, whereby a GFRID with a regional focus will be organized every two years with the support of a local host. 1

4 The Global Forums The Global Forums on Remittances, Investment and Development (GFRID) are a series of international forums aimed at bringing together stakeholders from around the world involved in the field of remittances, migration and development, to stimulate the creation of partnerships and long-lasting synergies among public and private sectors, and the civil society. Since 2007, the Global Forums have been organized by the International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations and an international financing institution (IFI), in collaboration with key partners, such as the Inter-American Development Bank, the African Development Bank, the World Bank Group, the European Commission and the United Nations Department for Economic and Social Affairs (UN-DESA). The GFRID has become, over the last decade, a unique platform in which to discuss global remittance-related issues and share solutions to maximize the development impact of these flows. The last two forums Milan 2015 and New York 2017 both saw the participation of over 400 representatives from the public and private sectors, and civil society, and contributed to the global discussion on remittances, migration and development by raising further interest from different perspectives. Bank Negara Malaysia, in collaboration with IFAD and the World Bank Group, will host the first in a series of regional forums aimed at exploring opportunities and challenges in Asia-Pacific, in line with global policies and priorities. The GFRID Asia-Pacific will take place in Kuala Lumpur on 8-10 May Global Forum on Remittances, Investment and Development Asia-Pacific Focused on Asia-Pacific, to be held in Kuala Lumpur, and organized by Bank Negara Malaysia, together with IFAD and the World Bank Group Global Forum on Remittances, Investment and Development Global Global coverage focused on the role of remittances in achieving the SDGs, and opportunities in the global marketplace. Held in New York and organized together with the World Bank Group and the UN Department of Economic and Social Affairs (UN-DESA) Global Forum on Remittances and Development Europe Focused on European and global markets, and development impact, organized by IFAD, the European Commission and the World Bank Group, held in Milan in conjunction with the Universal Exposition EXPO Milano Global Forum on Remittances Asia Focused on Asia, held in Bangkok, and organized together with the World Bank Group Global Forum on Remittances Africa Focused on Africa, held in Tunis, in collaboration with the AfDB International Forum on Remittances Global Global coverage, held in Washington D.C. and organized together with the IDB International Forum on Remittances Americas Focused on Latin America and the Caribbean, held in Washington D.C. and organized by the IDB, after which the organization passed on to IFAD. 2

5 The Global Context On 8-10 May 2018, Bank Negara Malaysia (the Central Bank of Malaysia), in collaboration with the International Fund for Agricultural Development (IFAD) and the World Bank Group, will host the first country-led regional Global Forum on Remittances, Investment and Development (GFRID), focused on the remittance and investment landscape in Asia-Pacific. One billion people over 200 million migrant workers supporting an estimated 800 million family members are directly impacted by remittances. These flows are crucial for migrant families, allowing them to secure food, education, health, but also income-generating activities, particularly in rural areas where they count the most. In 2017 alone, migrant workers sent over US$466 billion in remittances to their families in developing countries. To harness the power of this money for development, the international community needs to acknowledge the crucial role played by migrant workers and find ways to support them. The Forum comes at a very timely moment as it will actively contribute to the current preparatory processes leading up to the adoption of a Global Compact for Safe, Orderly and Regular Migration in The last GFRID, held in New York in June 2017, confirmed its relevance not only to the Global Compact process, but also showcased the crucial role of remittances and migrant investments to the guidance and achievement of the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), as well as the Addis Ababa Action Agenda. To further support these global endeavours, this countryled regional GFRID will see the participation of major representatives from public and private sectors, as well as the civil society, involved in remittances and investments in Asia-Pacific. The Forum will explore innovative ways to contribute to such global processes, while highlighting regional specificities, opportunities and challenges. The Global Compact process is one of the key outcomes of the New York Declaration for Refugees and Migrants, adopted in September 2016 by the United Nations General Assembly. In this Declaration, all Member States of the United Nations recognized the need for a comprehensive approach to human mobility and enhanced cooperation at the global level. The Global Compact is being developed through an open, transparent and inclusive process of consultations and negotiations calling for the participation of all relevant stakeholders including the civil society, the private sector, academic institutions, governments, diaspora communities, and migrant organizations. The Forum s participants and stakeholders Commercial banks FinTech companies Microfinance institutions Mobile phone companies Money transfer operators Private foundations Private postal operators Rural banks Insurance providers Private sector Global Forum on Remittances, Investment and Development 2018 Civil society and development organizations Central banks and financial regulators Public sector Chambers of Commerce Ministries of Foreign Affairs Ministries of Migration and Labour Permanent Missions to the UN Postal networks Think tanks Academic institutions Community groups Cooperatives Development agencies Diaspora organizations International organizations Non-governmental organizations 3

6 International Day of Family Remittances 16 June The creation of an IDFR was unanimously recommended by representatives of the public and private sectors, and the civil society at the GFR2013 held in Bangkok. As a United Nations specialized agency, IFAD has been called upon to take the lead in developing formal recognition of this Day. IDFR was unanimously proclaimed by IFAD s 176 Member States gathered at IFAD s 38th Governing Council meeting in February The GFRID 2018 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. Observing its fourth year, the IDFR also aims to encourage collaboration among the public and private sectors, as well as the civil society, to do more together and collaborate to maximize the impact of remittances in the developing world. Purpose of the IDFR is (a) to raise global awareness about the contributions of remittances to the well-being of migrant families and communities of origin, (b) to capitalize on the potential of remittances to help meet the economic, social and environmental challenges confronting lower and middle-income countries, (c) to encourage the private sector to facilitate the sending of remittances and to link these flows to a range of financial services and products for migrants and their families, and (d) to enhance the impact of remittances in communities of origin. Since its first celebration on 16 June 2015 in Milan, in the context of the GFRD2015, with the support of Her Majesty Queen Máxima of the Netherlands as Patron of the Day, the IDFR outreach campaign has evolved extensively. With a large number of international organizations and NGOs, and over 80 MTOs, representing the majority of the market, endorsing the values of this observance, the IDFR was able to ensure that the human face of remittances millions of families in lower and middle-income countries was given its true and deserved dimension. These endorsements from key stakeholders come at a time when migration has become one of the top priorities of the global development agenda, and its implications are being discussed in all major fora. A recent highlight was the High-Level Plenary Meeting to Address Large Movements of Refugees and Migrants. Held at the United Nations Headquarters on 19 September 2016, the Summit committed to develop a Global compact for safe, orderly and regular migration, to be adopted by the United Nations General Assembly later this year. In a supporting effort, the road leading to the 2018 IDFR observance aims to contribute to this process and increase awareness of the global effort towards recognizing the role of migrants in development. In early 2017, the UN General Assembly took note of the proclamation of the IDFR (A/RES/71/237). More information can be found at and/or 4

7 GFRID 2018 Overview Plenaries are aimed at presenting topics of common interest and sharing best practices and lessons learned. Parallel discussions will provide opportunities for participants to share their expertise and experiences, create synergies and strengthen partnerships. Workshops and Stakeholder Events will start with thematic presentations, followed by an audience discussion to allow interaction among participants. Participation The GFRID 2018 will be open to representatives of Member States (financial regulators, central bank representatives, development experts, delegates from permanent missions, etc.), the United Nations system (international financial institutions, funds, specialized agencies and programmes, related organizations, etc.), the private sector (commercial banks, money transfer organizations, mobile operators, microfinance practitioners, etc.), civil society, academic institutions and think tanks, migrant communities, diasporas and media. Around 400 participants are expected to join, both from the region and globally. Private Sector Day 8 May Sasana Kijang, Kuala Lumpur Day 1 will focus on the role of the private sector in contributing, through remittances and investment, to achieve the SDGs, in particular on opportunities and challenges that need to be overcome for sustainable growth. The opportunities, particularly in Asia-Pacific, are the sheer size of the remittance market, its leverage for financial inclusion, the application of new technologies and the focus and commitment of the public sector. However, there are many challenges to be overcome, such as de-risking and how to remain profitable. Through information sessions, panel discussions and case studies, Day 1 will cover key issues faced by the private sector and discuss challenges and opportunities in the remittance market, with a look to the future. The Private Sector Day will culminate with the RemTECH Awards 2018 Asia-Pacific which will recognize some of the key innovations that are contributing to the advancement of remittances in Asia-Pacific. The Remittance Marketplace will run in parallel to the Forum and Forum Reception will be held on the evening of 8 May in the Marketplace. Technical Workshops and GFRID 2018 Stakeholder Events 9 May Sasana Kijang, Kuala Lumpur Day 2 will enable participants to explore key themes in significantly greater detail. The morning will feature four interactive workshops examining key topics. In the afternoon, the organizers, partners and other selected entities will host a series of meetings and side events with agencies and government representatives. These sessions will be open to all Forum participants. Participants will be able to share their knowledge in their own areas of expertise, learn about an area that is new to them and provide examples of success stories in other regions which have similar circumstances to the areas of focus. Public Sector Day 10 May Sasana Kijang, Kuala Lumpur The introduction of SDG 10.c in 2015 has brought a renewed focus on how to leverage remittances for development. The Public Sector Day will build on the learnings from Day 1 and Day 2 and incorporate them into some of the vital initiatives that are currently taking place. Whilst a remittance, at its simplest, is a personto-person money transfer, the development agenda recognizes that it presents opportunities to deliver so much more, especially through the potential contribution to financial inclusion and diaspora investment. Using a variety of parallel and plenary sessions, the Public Sector Day will examine how to harness remittances for financial inclusion and how to achieve meaningful diaspora investment. It will also look at how to create successful public-private-partnerships and provide an update on the Global Compact for Migration. Day 3 will conclude by bringing together the themes of GFRID 2018, outlining the Asia-Pacific action agenda for the following two years, and concluding the Forum. 5

8 Sasana Kijang, Kuala Lumpur Private Sector Day 8 May SESSION I Opening and keynote address: migration and development in Asia-Pacific 9:00 9:30 PLENARY I Opening Welcome remarks from the organizers and keynote address Jessica Chew Cheng Lian, Deputy Governor, Bank Negara Malaysia (the Central Bank of Malaysia) Charlotte Salford, Associate Vice President, External Relations and Governance Department (ERG), IFAD Ceyla Pazarbasioglu, Senior Director, Finance, Competitiveness & Innovation Global Practice, World Bank Group 9:30 10:30 PLENARY II People on the move and inclusive financial services in a globalized economy Migration is a global phenomenon involving around 258 million people. The longing for a better life for themselves and their loved ones back home spurs migrants to leave their communities to find betterpaying jobs abroad, and the remittances they send home are a testimony of their strong commitment. The majority of migrant workers and their families have little or no access to financial services. Although the world s economy is becoming more and more globalized, there is a strong need for increased financial education and inclusion. Remittances bring many benefits on their own and leveraging them to help financial access, education and investment would bring additional benefits. This session will lay the Forum foundations by discussing the benefits that people on the move bring to their countries and communities, while highlighting some challenges that need to be addressed. VIDEO MESSAGE FROM Louise Arbour, United Nations Secretary-General s Special Representative for International Migration PANELISTS Daniela Morari, State Secretary, Ministry of Foreign Affairs and European Integration, Republic of Moldova Tony Fernandes, AirAsia Group CEO and AirAsia X Co-Group CEO Alfred Hannig, Executive Director, Alliance for Financial Inclusion MODERATOR Bela Hovy, Chief, Migration Section, Population Division, UN Department for Economic and Social Affairs (DESA) 10:30 10:45 PLENARY III Remittance market in Asia-Pacific: overview In the context of the GFRID 2018, IFAD will present the key findings from its latest research RemitSCOPE: Remittance markets and opportunities Asia and the Pacific, aimed at providing a better understanding of the remittance market and the best regulatory practices in place. RemitSCOPE Asia-Pacific will highlight industry trends and opportunities in today s Asia-Pacific remittance market and set the tone for the subsequent Forum discussions. RemitSCOPE: Remittance markets and opportunities Asia and the Pacific Pedro De Vasconcelos, Senior Technical Advisor and Manager of the Financing Facility for Remittances, IFAD Leon Isaacs, Chief Executive Officer, Developing Markets Associates Ltd. (DMA) 10:45 11:00 COFFEE BREAK 6

9 Private Sector Day 8 May SESSION II Remittances and investments: global trends and perspectives for Asia-Pacific 11:00 12:00 PLENARY I Remittance market in Asia-Pacific: trends and future outlook Having developed successful businesses, well-established remittance companies now face new opportunities and challenges. In this panel, leading industry players will reflect on market transformation over the last five years and share their vision on future developments. This panel will also showcase high-impact and time-tested remittance business models, demonstrate latest developments on effective collaboration among stakeholders in lowering costs and improving access to financial services, and highlight areas where Asia-Pacific is in the lead, including current and future challenges. PANELISTS Molly Shea, Senior Vice President & General Manager, APAC, Western Union Prajit Nanu, Co-Founder and Chief Executive Officer, Instarem Yogesh Sangle, Head of Asia Pacific, South Asia and Middle East, MoneyGram Catherine Wines, Co-Founder and Director, WorldRemit MODERATOR Massimo Cirasino, Founder and CEO, Payment Systems Academy 12:00 13:00 PLENARY II Harnessing the power of people on the move: diaspora and impact investment in Asia-Pacific There is a rising global awareness on the significant social and economic contribution migrant workers and diasporas make towards development. While remittances are a crucial aspect of migrant workers financial contributions, there are also other powerful forces at work such as transnational capital and in-country investments by migrant workers and diasporas alike. These investments support MSME creation and growth, asset-building goals and local development in their home countries. This session will present the opportunities for investment mechanisms to develop the ideal product mix to meet both the financial and philanthropic expectations of migrant workers and diaspora investors. PANELISTS Lee Sorensen, Economic growth, Private Sector Development, Impact funds Expert Ron Bevacqua, Co-Founder & Managing Director, ACCESS Advisory Manuel Orozco, Senior Fellow, Migration, Remittances and Development, Inter-American Dialogue Leigh Moran, Director on the Strategy, Communication and Impact Team, Calvert Impact Capital MODERATOR Liesl Riddle, Associate Professor, School of Business and International Affairs, George Washington University 13:00 14:30 NETWORKING LUNCH 7

10 Private Sector Day 8 May SESSION III Market opportunities to develop inclusive remittances and impact diaspora investment 14:30 15:45 SIMULTANEOUS PANEL TRACKS Market perspectives PANEL I A Auditorium, Lower Ground Floor Emerging money transfer business models: unlocking opportunities Whether there are traditional cash-based money transfer services or newer alternatives such as online, mobile, distributed ledger technology, innovative solutions are being developed everywhere across the remittance marketplace. In addition, a new trend of partnerships is emerging, offering new opportunities to both local and international actors. This panel will share both positive and negative development experiences and ensuing cost implications. PANELISTS Mohd Khairil Abdullah, Chief Executive Officer, Axiata Digital Services Prasanna Rao, Head of Sales, Valyou Sudhesh Giriyan, Chief Operating Officer (COO), Xpress Money Aireen Omar, Deputy Group CEO Digital, Transformation, Corporate Services, AirAsia Group MODERATOR Hugo Cuevas-Mohr, Director, International Money & Transfer Conferencies (IMTC) PANEL I B Conference Hall 1, Ground Floor Digital economy: remittance services for broader market segments The remittance industry is rapidly changing throughout the world. As the move from cash-based money transfer services to digital solutions is beginning to gain momentum, the Asia-Pacific region is at the vanguard in some areas, bringing new opportunities and products to remittance senders and their families. This panel will describe how these innovations and new technologies are already transforming client perceptions and needs, and opening the doors to financial inclusion for remittance recipients. PANELISTS Roar Bjaerum, SVP Head of Financial Services, Telenor Michael Kent, Chief Executive Officer, Azimo Elmer (Jojo) M. Malolos, Chief Executive Officer, Wing Cambodia Carlo Corazza, Senior Payment Systems and Remittances Specialist, World Bank Group MODERATOR Leon Isaacs, Chief Executive Officer, Developing Markets Associates Ltd. (DMA) PANEL I C Forum, Level 1 Diaspora investment: scope of market opportunities in Asia-Pacific The reality of diasporas investing beyond their contribution through remittances in their countries of origin is now greatly recognized. However, providing access at a large scale to investment products (e.g. bonds or mutual funds) according to national regulatory frameworks and markets often requires support to be widely distributed abroad to scattered diasporas. This panel will present a range of perspectives allowing best practices to be shared more broadly; it will also look at the role that the private sector, together with governments, can play to encourage diaspora investment and allow these to reach scale, while mitigating risks. PANELISTS Eric Guichard, Chief Executive Officer, Homestrings Josephine G. Cervero, First Vice President, Trust Banking group, Land Bank of the Philippines Mayumi Ozaki, Public Management, Financial Sector, & Trade Division, South Asia Department Asian Development Bank (ADB) Ganesh Gurung, Executive Director, Nepal Institute of Development Studies (NIDS) MODERATOR Manuel Orozco, Senior Fellow, Migration, Remittances and Development, Inter-American Dialogue 8

11 Private Sector Day 8 May 15:45 16:45 SIMULTANEOUS PANEL TRACKS Financial access, innovation and opportunities PANEL II A Forum, Level 1 De-risking in the remittance marketplace: issues and alternatives De-risking has been a recognized phenomenon during the past four years. The effect has been significant in most markets but has impacted different countries and stakeholders in different ways. This panel will address recent trends and consider several innovations that could represent a solution to mitigate the de risking outcomes. The panel will also explore alternatives to ensure continued access to financial services. PANELISTS Dianne Nguyen, Director, Australian Remittance and Currency Providers Association Robert Bell, Chairman, KlickEx Ceu Pereira, Senior Financial Sector Specialist, World Bank Group George Inocencio, First Vice President and Head of Remittance Marketing Department, Development Bank of the Philippines MODERATOR Louis de Koker, Professor of Law, La Trobe Law School, Australia PANEL II B Auditorium, Lower Ground Floor Innovations and inclusive remittance business models and products that meet the clients needs The remittance market has been evolving and diversifying extensively over the last 30 years. Innovative approaches from private sector entities have resulted in new business models and opportunities, enabling clients to access a larger selection of products while sending or receiving remittances. This panel will showcase replicable and scalable examples of industryled initiatives that take into consideration customer realities (both recipients and senders) and match these with innovative solutions and sustainable and profitable products and services. PANELISTS Sofia Freyder, Payments Expert Eugene Nigro, Vice-president of Global Business Development, Remitly Michele Grosso, CEO and Founder, Democrance Insurance MODERATOR Juanita Woodward, Principal Consultant CTD Connecting the Dots, InfoCorp Technologies, Singapore University of Social Sciences PANEL II C Conference Hall 1, Ground Floor Promoting savings and investment of remittances: amplifying the impact of remittances beyond household consumption Remittances are far more than just the movement of private money. They are also a gateway towards financial inclusion. However, financial service providers still ignore the tremendous potential that remittance recipients represent to their potential client base. The panel will discuss what can be done to encourage financial service providers to supply attractive and relevant products to remittance senders and recipients (i.e. savings, credit, insurance). The panel will also showcase tools that can foster product acceptance such as technological platforms and the use of financial literacy programmes. PANELISTS Jonathan Capal, Director, Developing Markets Associates Ltd. (DMA), Asia-Pacific Jean Drouffe, CEO, AXA Insurance Singapore Mai Anonuevo, Executive Director, Atikha Overseas Workers and Communities Initiatives Robin Gravesteijn, Data Management Specialist, United Nations Capital Development Fund (UNCDF) MODERATOR Ron Bevacqua, Co-Founder & Managing Director, ACCESS Advisory 9

12 Private Sector Day 8 May 16:45 17:00 COFFEE BREAK 17:00 17:30 WRAP UP Private Sector Day Brief from the Rapporteurs on parallel sessions Bank Negara Malaysia (Stream A: Market) World Bank Group (Stream B: Client and Financial Inclusion) IFAD (Stream C: Investment) SESSION IV 17:30 18:00 The RemTECH Awards 2018, Asia-Pacific The RemTECH Awards, developed by Mohr World Consulting and the International Money Transfer Conferences (IMTC), will showcase the most innovative and outstanding ideas designed to improve remittance services. The 2018 RemTECH Awards will be presented to companies, groups, collectives or individuals whose groundbreaking solutions are improving transparency, speed, cost, and reliability for companies and end-users sending and receiving remittances every day. MODERATOR Hugo Cuevas-Mohr, Director, International Money & Transfer Conferences (IMTC) 18:00 19:15 FORUM RECEPTION Auditorium, Lower Ground Floor 10

13 Sasana Kijang, Kuala Lumpur Technical Workshops and Stakeholder Events 9 May SESSION V 9:00 12:00 Interactive workshops 10:30 11:00 COFFEE BREAK WORKSHOP A Training Room 2.3 & 2.4, Level 2 Regulation and supervision of Money Services Business (MSB) sector: countries perspectives The MSB sector has gained greater interest in recent years not only from the public sector, given its significant role in supporting migrants and their inherently higher risk nature, but also from the private sector due to the lucrative business prospects it offers amid the high level of migration and tourism activities globally. Against this backdrop, the public sector in many countries is now paying closer attention to regulating and supervising the MSB industry mainly with the view of: (i) promoting greater development for more competitive and efficient market offerings, and (ii) ensuring that the industry remains adequately safeguarded against risks of money laundering/ terrorism financing (ML/TF) and other financial crimes, to preserve integrity of the sector. The first part of the workshop will present countries experience on regulating and supervising the MSB sector under their respective jurisdictions. This will be followed by a discussion to develop constructive ideas to further improve regulation and supervision of MSB, and solutions to address MSB sector-wide issues. WORKSHOP B Forum, Level 1 Blockchain and remittances: are the new market strategies within reach? Blockchain technology has gained increasing attention in recent years although it still retains a degree of skepticism. Blockchain has the potential to address fundamental problems in the remittance value chain, including potentially the transmission of consumer data, settlement between operators, etc. How are regulators positioning themselves to address this new trend? What solutions could blockchain bring to the remittance marketplace? The first part of this workshop will introduce a simple overview of blockchain, how it works and potential applications. Through a subsequent interactive discussion with participants, the panel will bring concrete and practical cases and opportunities towards turning the hype currently surrounding blockchain into tangible cases that could really make a difference in the remittance marketplace. CORE FACILITATOR World Bank Group CORE FACILITATOR Bank Negara Malaysia 11

14 Technical Workshops and Stakeholder Events 9 May WORKSHOP C Conference Hall 1, Ground Floor Financial inclusion and mobile solutions: achieving financial inclusion in both the first and last mile of the remittance corridor Mobile-enabled remittances provide more convenience to end-customers while reducing the costs. In addition, wallet-based mobile remittance 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 sending and/or receiving 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. CORE FACILITATOR Alliance for Financial Inclusion (AFI) WORKSHOP D Training Rooms 3.1 & 3.4, Level 3 Social impact investment meets diaspora investment in rural areas: untapped opportunities Over the last two decades, migrants and their families have contributed extensively to rural development. Through both remittance usage and direct investment into small agricultural activities, migrants have de facto become the largest contributors to development aid in rural communities. From the remittances and diaspora capital invested in agriculture, these contributions represent over four times global ODA to agriculture. The first half of this panel will address numerous examples of such interventions by migrant families and showcase limitations and opportunities for reaching significant scale. The second part will bring practical cases that can be replicated and scaled up with a potential long-term positive impact in rural transformation. CORE FACILITATOR International Fund for Agricultural Development (IFAD) 12:00 14:30 LUNCH AND NETWORK 12

15 Technical Workshops and Stakeholder Events 9 May 14:30 17:00 GFRID 2018 STAKEHOLDER EVENTS 15:30 16:00 COFFEE BREAK EVENT 1 Forum, Level 1 Harnessing migrant remittances for rural investment: IFAD s regional programme in Asia Since 2014, IFAD has supported the development of inclusive remittances for rural migrants and their families that enable them to save and invest in their local economies. Inclusive remittances combine wealth building packages of financial products, partnerships that enable migrants to remit into them, and locallybased financial institutions that mobilize those savings into farms and rural enterprises. During this session, the project implementing partners will discuss the tools and methods necessary for developing inclusive remittances, the project s accomplishments, and the challenges that still need to be addressed in order to make inclusive remittances more accessible and effective. ORGANIZED BY IFAD and ACCESS Advisory EVENT 2 Conference Hall 1, Ground Floor Promoting digital innovation for inclusive and sustainable remittance markets International remittances are critical to financial resilience for migrants and their households as they help smoothen consumption, sustain shocks and stimulate economic activity. Guided by the SDGs and informed by the Global Compact for Migration, UNCDF complements IFAD s efforts to meet these global objectives and encourages mechanisms for convenient and affordable access to digital remittance channels and increased usage of remittancelinked financial products by investing in innovative business models, building capacity towards a human-centered approach for product development, and facilitating strategic partnerships for an integrated and inclusive financial market. Asia accounts for 30 per cent of the global migration flows and 40 per cent of international remittance flows. Out of these, 35 per cent of the migrant remittances remain within the region. This side event will share the insights from the region for an interactive discussion with key practitioners for targeted interventions in Asia-Pacific. This would lead to improved access to digital remittance channels in the rural areas and increased opportunity to leverage remittances as a access financial services. ORGANIZED BY United Nations Capital Development Fund (UNCDF) EVENT 3 Training Rooms 3.1 & 3.4, Level 3 The RemTECH seminar: roundtable on remittance innovation GFRID 2018 hosts the second RemTECH Awards to highlight the most impactful, game changing, and relevant innovations in remittances. The RemTECH Seminar aims to discuss with the Forum participants the significance of the award winners and the areas where remittance innovations seem to be heading to, by listening the opinions of organizers, sponsors, speakers and the awardees themselves. This highly interactive roundtable will allow participants to ask questions, share their expertise on significant developments in their own regional markets, analyze the effects of regulation and public policy on remittance innovation, as well as other challenges remittance entrepreneurs face. We will also discuss the influence of blockchain in the industry, in particular how virtual currencies are bringing changes to settlements and foreign exchange management, and the impacts of ICOs in raising investment. ORGANIZED BY Mohr World Consulting and the International Money Transfer Conferences (IMTC) 13

16 Sasana Kijang, Kuala Lumpur Public Sector Day 10 May SESSION VI Promoting conducive and enabling remittance markets 9: PLENARY I Money services business transformation Malaysia has transformed the money services business (MSB) sector with a series of key milestones starting with the enactment of the Money Services Act of 2011, including consolidation of MSBs through merger and acquisition, the introduction of the principal agent arrangement, and the establishment of the Malaysian Association of Money Services Business (MAMSB). The MSB sector has since transformed itself into one that is characterized with integrity, professionalism, and transparency. To set the scene for the agenda of Public Sector Day, this session will discuss the transformation of Malaysia s MSB sector good practice and lessons. THE WORLD BANK GROUP PRESENTATION Isaku Endo, Senior Financial Sector Specialist, World Bank Group 9: PLENARY II Policies and strategies to support market development While regulatory frameworks aim at balancing the need for a secure, level-playing field, and allowing for competition and innovation, this is not always achieved. Exclusivity, inadequate access to payments systems, AML/CFT compliance and currency controls are among the key issues to be addressed by regulators. As new players and technologies populate the Asia-Pacific remittance market, regulators need to address ensuing risks and opportunities with appropriate measures. This panel will highlight the recent reforms in legislative and regulatory frameworks that govern money transfers and the remittance market in general, discuss options, and foster dialogue from both public and private sector perspectives on enabling remittance markets in Asia-Pacific. PANELISTS Mohit Davar, Chairman, International Association of Money Transfer Network (IAMTN) Dindo Santos, Director, Integrated Supervision Department I, Bangko Sentral ng Pilipinas Kwiwoong Lee, Director, Head of Mutual Evaluation Preparation Team, Korea Financial Intelligence Unit (KoFIU), Korea Financial Services Commission Nilixa Devlukia, Payments Expert, European Banking Authority MODERATOR Irina Astrakhan, Practice Manager, Finance, Competitiveness & Innovation Global Practice, World Bank Group 10: PLENARY III Private-public-people partnerships The private sector plays a pivotal role in providing sustainable options to migrant workers and their families to leverage the impact of their remittances and investments at household and macro-economic levels. By routing the funds sent or kept informally towards more secure, regulated channels, and into financial and investment products, the private sector will support migrant families in achieving their own goals and contribute to the SDG agenda, well beyond SDG 10.c aimed at reducing the costs of sending remittances. This is especially the case whereby an enabling environment, efficient markets and incentives, and partnerships with the private sector are promoted by the public sector. This panel will present good practices and discuss how different stakeholders can apply them. It will also examine the essential requirements to make a positive public-privatepeople partnership work, and how public policies can support an enabling environment. PANELISTS Patrice Kiiru, General Manager, Diaspora Banking & International Money Transfer, Equity Bank Group Md Shafiqur Rahman, Director General, Special Security Force, Government of Bangladesh Jaspreet Singh, Regional Technical Specialist for Digital Financial Services, United Nations Capital Development Fund (UNCDF) Prasun Kumar Das, Secretary General, Asia-Pacific Rural and Agricultural Credit Association (APRACA) MODERATOR Michael Hamp, Lead Technical Specialist Inclusive Rural Financial Services, IFAD 14

17 Public Sector Day 10 May 11:15 11:30 COFFEE BREAK 11:30 12:30 SIMULTANEOUS PANEL TRACKS Public policies and enabling environment PANEL I A Auditorium, Lower Ground Floor Regulating the remittance market: emerging issues The sheer size of remittance market has attracted new digital innovators into the industry to provide solutions in addressing the shortcomings of the traditional money transfer business model. Responding to the moves of these new entrants, existing industry players started to reinvigorate their business models by rapidly boosting their digital capabilities. This results in the emergence of new products and services not seen by the industry in the past decade, presenting new challenges to the regulators. This panel will explore practical challenges in regulating new risks, strategies adopted by the regulators in pursuing risk-management objectives, while promoting digitalization and new approaches to regulation, including changes to the regulatory framework and enforcement issues. PANELISTS Jack Haldane, Acting Director Regulatory Investigations, AUSTRAC Nutt Lumbikananda, Director of Foreign Exchange Administration and Policy Department, Bank of Thailand Ricky Satria, Deputy Director, Payment System Policy Department, Bank Indonesia Ouk Sarat, Director of Payment Systems Department, National Bank of Cambodia PANEL I B Conference Hall 1, Ground Floor Promoting the use of regulated channels: the role of sending and receiving countries It is estimated that the size of unregulated remittances could be as high as 50 per cent of the regulated flows in some Asia-Pacific countries. Why do people use informal means and what can be done to change that behavior? How does this trend affect current service providers and emerging ones? Is it a matter of regulation, lack of financial literacy, or are other market forces at play? This panel will examine roles of regulators and private-sector entities in both corridors to encourage more remittances to be sent through formal channels. PANELISTS Dilli Ram Pokharel, Director, Research Department, Nepal Rastra Bank Isaku Endo, Senior Financial Sector Specialist, World Bank Group Nika Naghavi, Senior Insights Manager, Mobile Money Programme, GSMA Leta Havea-Kami, Managing Director & Chief Executive Officer, Tonga Development Bank MODERATOR Nik Mohamed Din Nik Musa, Director, Money Services Business Regulation Department, Bank Negara Malaysia MODERATOR Liat Shetret, Senior Independent Advisor for Financial Integrity, Research, Policy and Practice 12:30 14:00 NETWORKING LUNCH 15

18 Public Sector Day 10 May SESSION VII Migration, development and the SDGs 14:00 15:15 PLENARY I Remittances as a lever for the SDGs: how to multiply their effects through enabling policies While remittances are specific to SDG 10.c, which is focused on reducing costs, there are other SDGs that remittances can help meet thanks to the opportunities that financial inclusion through remittances can provide. This panel will examine these benefits and debate on how to achieve them. PANELISTS Robin Newnham, Head of Policy and Capacity Building, Alliance for Financial Inclusion (AFI) Muthukumarasamy Kalyanasundaram, CEO, International Network of Alternative Financial Institutions (INAFI), India Muhammad Ismail Iqbal, Deputy Secretary, Ministry of Overseas Pakistanis & Human Resource Development, Pakistan Michael Growder, Deputy High Commissioner to Malaysia, Department for Foreign Affairs and Trade, Government of Australia MODERATOR Rajeev Kumar Gupta, Head of regional Financial Inclusion program, United Nations Capital Development Fund (UNCDF) 15:15 16:30 PLENARY II The commitment of diaspora through remittances and investment: contributing to the Global Compact for Migration and achieving the SDGs The United Nations General Assembly is currently negotiating the Global Compact for Safe, Orderly and Regular Migration. Scheduled to be adopted in December 2018, this first ever UN agreement focusing on international migration in all its dimensions will provide guidance for the global community in developing well-managed policies, facilitating safe, orderly and regular migration, assisting and protecting migrants in vulnerable situations and harnessing the contributions of migrants to sustainable development in communities of origin and destination. The economic contribution of diaspora to their home countries is expressed, in part, in the money sent to their families back home, in the investment of hard-earned savings and in entrepreneurial activities undertaken by returnees or family members. While the amount of remittances sent to developing countries surpasses official development assistance by more than 300 per cent, significant barriers reducing their full development impact continue to persist. Moreover, large-scale schemes to encourage diaspora s investment and entrepreneurship in countries of origin have yet to emerge, in some instances, due to deterring regulatory frameworks. In line with the commitments made in the Addis Ababa Action Agenda, this session will review policies and practices that promote conditions for cheaper, faster and safer transfer of remittances, for diaspora to invest in their countries of origin and for financial inclusion of migrant families. The session will also highlight the need for data to monitor progress in implementing the relevant commitments in the future Global Compact for Migration and consider the linkages with the SDGs, in particular with regard to implementation, follow-up and review. PANELISTS Jill Helke, Director, International Cooperation and Partnerships, International Organization for Migration (IOM) B. Lindsay Lowell, Director of Policy Studies, Georgetown University Pedro De Vasconcelos, Senior Technical Advisor and Manager of the Financing Facility for Remittances, IFAD Shahadat Khan, Academic and researcher, RMIT University in Melbourne, Global Coordinator, Migrant Family Motivation Initiative (MFMI) MODERATOR Bela Hovy, Chief, Migration Section, Population Division, UN Department for Economic and Social Affairs (DESA) 16

19 Public Sector Day 10 May 16:30 16:45 COFFEE BREAK 16:45 17:00 WRAP UP GFRID 2018 This session will consolidate the outcomes of the areas discussed during the GFRID 2018 into a series of key findings, lessons and conclusions. It will synthesize these into an agenda for action for in Asia-Pacific. This session will focus on those action areas that will make a real difference to the people who send and receive remittances, outline market and regulatory barriers and how they will be overcome, and describe the measures of success. SPEAKER Donald F. Terry, Senior Fellow, Jonathan Edwards College, Yale University SESSION VIII 17:00 17:15 GFRID 2020 and closing Closing Remarks World Bank Group IFAD Bank Negara Malaysia 17

20 The RemTECH Awards Bringing Remittances Innovation Forward The Remittances Innovation Awards (RemTECH Awards) will showcase the most innovative and outstanding ideas, services and products, designed to improve remittance services worldwide. The awardees will be companies, groups, or individuals coming up with ground-breaking solutions that benefit the market ecosystem, improve transparency, speed, cost and reliability for companies and remittance senders and receivers. The RemTECH Awards 2018 will take place on May 8 at the GFRID 2018 in Kuala Lumpur (Malaysia). Registration opened on January 1 st, 2018 closed on March 30 th with finalists announced on April 17 th. The following categories were used as guidelines to submit proposal and for the independent judging panel that was chosen to select the awardees. B2B Solutions End-User Experience Compliance Innovation Remittances for Social Impact Technology Innovation Remittance Synergies The category winners and award mentions will also receive the additional benefit of competing in the Industry Choice ballot in the last leg of the RemTECH Awards, where the GFRID attendees will review these entries and determine the winner, to be announced at the Award Ceremony. The independent judging panel used the following criteria to judge the entries: Originality, Creativity and Intent Functionality and Technical Qualities Ease of Use and Adoption Game-changer Impact Implementation and Performance Sustainability and Potential for Growth The Judging Panel The RemTECH organization and IMTC want to thank the Award Judges for their help and support: Luis Buenaventura Leon Isaacs Olivia Chow Faisal Khan Arundhoti Banerjee George Harrap Jonathan Capal Sofia Freyder Sia Hui Yong We are extremely happy to be a platform for companies, start-ups, and entrepreneurs who are changing the industry of remittances for good, to get global acknowledgement of their hard work. Remittances are a celebration of the hard work, sacrifice, and generosity of international workers, and we are very proud about highlighting people that will help the industry to better itself. Hugo Cuevas-Mohr IMTC, RemTech Director The RemTECH Awards were developed and managed by The International Money Transfer & Payment Conferences, IMTC

21 The Remittance Marketplace Sasana Kijang The Remittance Marketplace will be held in parallel to GFRID 2018 and offer a unique platform for the exchange of views and ideas, addressing challenges and opportunities, as well as an occasion to meet and network. The Marketplace will provide companies with a dedicated networking space during breakout sessions and will see the participation of selected private sector entities who will showcase their latest products and innovations to all Forum participants. Exhibitors will have the opportunity to gain further visibility by presenting business models, tools and technologies to a high-level audience of government officials, industry representatives, development workers and civil society leaders. The Forum Reception will be held in the evening of 8 May in the Remittance Marketplace, inviting all Forum participants to attend and further such exchange. 28 companies have been invited to participate. A dedicated Marketplace Note with logistic details and further information is available for the exhibitors. List of exhibitors 1 International Fund for Agricultural Development 2 World Bank Group 3 Alliance for Financial Inclusion 4 IOM The UN Migration Agency 5 IMTC 6 RIA Financial Services 7 DMA 8 IAMTN 9 Travelex 10 Homestrings 11 CONTACT 12 TransferTo 13 Tik FX Malaysia Sdn Bhd (Tranglo) 14 Bitspark 15 Max Money 16 NYUVO 17 AZIMO 18 Merchantrade 19 ValYou 20 Xpress Money Services Ltd. 21 RemitRadar 22 Malaysian Association of Money Services Business (MAMSB) 23 CIMB (Speedsend) 24 Democrance 25 Western Union 26 MAG 27 DBKL KL Tourism Bureau 28 Cherry Art Studio 29 Kolam Emas 30 Local product 19

22 List of Speakers Welcoming remarks Special address Jessica Chew Cheng Lian Bank Negara Malaysia Charlotte Salford IFAD Ceyla Pazarbasioglu The World Bank Group Louise Arbour United Nations Secretary General s Special Representative for International Migration Moderators Irina Astrakhan The World Bank Group Ron Bevacqua ACCESS Advisory Massimo Cirasino Payment Systems Academy Hugo Cuevas Mohr International Money Transfer Conferences (IMTC) Louis De Koker La Trobe Law School, Australia Nik Mohamed Din Nik Musa Bank Negara Malaysia Rajeev Kumar Gupta UN Capital Development Fund (UNCDF) Michael Hamp IFAD Bela Hovy UN Department for Economic and Social Affairs (UN-DESA) Leon Isaacs Developing Markets Associates Ltd. (DMA) Manuel Orozco Inter-American Dialogue Liesl Riddle George Washington University Liat Shetret Senior Independent Advisor for Financial Integrity, Research, Policy and Practice Juanita Woodward Singapore University of Social Sciences 20

23 Speakers Mohd Khairil Abdullah Axiata Digital Services Mai Anonuevo Atikha Overseas Workers and Communities Initiatives, Inc. Robert Bell KlickEx Roar Bjaerum Telenor Jonathan Capal Developing Markets Associates, Ltd. (DMA) Asia Pacific Josephine Cervero Land Bank of the Philippines Carlo Corazza The World Bank Group Prasun Kumar Das Asia-Pacific Rural and Agricultural Credit Association (APRACA) Mohit Davar International Association of Money Transfer Networks (IAMTN) Pedro De Vasconcelos IFAD Nilixa Devlukia European Banking Authority Jean Drouffe AXA Insurance Singapore Isaku Endo The World Bank Group Tony Fernandes AirAsia Sofia Freyder JP Morgan Chase Bank Sudhesh Giriyan Xpress Money Robin Gravesteijn UN Capital Development Fund (UNCDF) Michele Grosso Democrance Insurance Michael Growder Department for Foreign Affairs and Trade, Government of Australia Eric Guichard Homestrings 21

24 Speakers Ganesh Gurung Nepal Institute of Development Studies (NIDS) Jack Haldane AUSTRAC Alfred Hannig Alliance for Financial Inclusion (AFI) Leta Havea Kami Tonga Development Bank Jill Helke International Organization for Migration (IOM) George Inocencio Development Bank of the Philippines Md Ismail Iqbal Ministry of Overseas Pakistanis & Human Resource Development, Pakistan M. Kalyanasundaram International Network of Alternative Financial Institutions (INAFI), India Michael Kent Azimo Shahadat Khan Migrant Family Motivation Initiative (MFMI) Patrice Kiiru Equity Bank Group Kwiwoong Lee Korea Financial Services Commission B. Lindsay Lowell Georgetown University Nutt Lumbikananda Bank of Thailand Elmer M. (Jojo) Malolos WING Cambodia Leigh Moran Calvert Impact Capital Daniela Morari Ministry of Foreign Affairs and European Integration, Republic of Moldova Nika Naghavi GSMA Prajit Nanu Instarem Robin Newnham Alliance for Financial Inclusion (AFI) 22

25 Dianne Nguyen Australian Remittance and Currency Providers Association Eugene Nigro Remitly Aireen Omar AirAsia Group Mayumi Ozaki Asian Development Bank (ADB) Ceu Pereira The World Bank Group Dilli Ram Pokhrel Director, Research Department, Nepal Rastra Bank Md Shafiqur Rahman Government of Bangladesh Prasanna Rao ValYou Yogesh Sangle Head of Asia Pacific, South Asia and Middle East, MoneyGram Dindo Santos Bangko Sentral ng Pilipinas Ouk Sarat National Bank of Cambodia Ricky Satria Bank Indonesia Molly Shea Western Union Jaspreet Singh UN Capital Development Fund (UNCDF) Lee Sorensen Economic Growth, Private Sector Development, Impact Funds Expert Donald Terry Yale University Catherine Wines WorldRemit 23

26 List of Participants* A Hussein Abdi IGAD Rinat Abdrasilov LBG Abdul Wahab Abdul Aziz BFC Exchange Malaysia Mohammad Ridzuan Abdul Aziz WorldRemit Faizatul Akmar Abdul Rahim Green World Money Abd Hamid Abdullah Max Money Azwan Abdullah Universiti Malaysia Kelantan Amina Abdulsalam ACASI (African Centre for Agriculture and Social Inclusion) Mujtaba Aamer Abedi RemitONE Bienvenido Betonio Abilende Royal Group of Companies Nauman Abuzar Ria Money Transfer Rammani Acharya Junior Achievement Nepal Adebisi Adegbuyi Nigerian Postal Service Damarresa Adi Bharata Bank Rakyat Indonesia Miguel Aguado Ria Money Transfer Noorzliana Ahmad Merchantrade Asia Sabri Ahmad Pos Malaysia Berhad Dr. Hassan Babiker Ahmed Secretariate of Sudanese Working Abroad (SSWA) Iftekhar Ahmed Universiti Utara Malaysia Rizwan Ahmed Pakistan Micro Finance Investment Company Sheikh Akhter Uddin Ahmed NBL Money Transfer Asma Akter World Youth Bank-Asian Coordination (South Asia) Emil Al Shibib RemitRadar Md Ashraful Alam UNCDF Amsyar Alidin Autoriti Monetari Brunei Darussalam Nizam Shah Allabasc Max Money Osama AlRahma AlFardan Exchange Evelyn Alvarez Micro-Entrepreneurs Multi- Purpose Cooperative Supriya Amin Nyuvo Surendran Amittathody NS Cashpoint Johann Veronica Andal Philippine Embassy in Kuala Lumpur Amil Aneja UNCDF Mohammad Javed Ansari IME Latisha Anthony ValYou Muhamad Erfan Apriyanto Agropreneur Muda Indonesia-Asia (PT. Jawara Banten Farm) Shigueo Roberto Arakaki Balabarca Unidos Co. Ltd. Rakesh Aravind Travelex Malaysia Nicola Armacost Arc Finance Ltd. Mark Ashaba PostBank Uganda Ltd Ashraf Asrhad The World Bank Group Stone Atwine Eversend Jennifer Au Western Union Payments (Malaysia) Daniel Ayala Wells Fargo Bank Galib Ibn Anwarul Azim United Nations Capital Development Fund Aznan Abdul Aziz Bank Negara Malaysia B Tamsir Ousmane Ba FASNI Joane Badet Caposaj Mohd Nazir Bahari M.H.DIN Sivabalan Balakrishnan Max Money Jasbir Kaur Baldew Singh ValYou Eric Barbier TransferTo Jane Bartlett AUSTRAC Likoyi Baruti Recherches et Documentation Juridiques Africaines asbl Akbar Batcha Akbar Money Changer Yanee Arleen Benosa Camsur Multi-Purpose Cooperative Besim Berisha Ministry of Diaspora and Strategic Investmenst Juan Bethencourt Ria Money Transfer Subrata Bhattacharyya Gramin Vikas Trust Ishwarprasad Bhattarai Sahara Nepal Saving And Credit Society Ltd Maninder Bhullar Incentive Remit Salil Bhuvanadasan Mastercard Asia Pacific Pte Ltd Muhammad Owasim Uddin Bhuyan migrationnewsbd.com Ahmad Hadzim Bin Abd Majid Metro Money Exchange Mohamed Sherafath Ali Bin Abdul Rahman Sharafath Ali Nor Erima Binti Hassan IME Anupkamal Bishwakarma Dalit Welfare Association (DWA) Salima Naznin Bithi Development Initiative for Social Advancement (DISA) Maitri Bk Tailored Solution Hubert Boirard IFAD Nurul Ashikin Mohammad Bokhari Bank Negara Malaysia Eliki Boletawa Alliance for Financial Inclusion Eyoo Boon Lim Western Union Payments Malaysia Tim Byun OKLink C Daisybelle Cabal National Confederation of Cooperatives (NATCCO) Raul Jr Calayan National Confederation of Cooperatives Annora Callista Tourism & Commercial Platform Christopher Campbell Sumitomo Corporation Paula Carello IFAD Mary Rose Cascarro Lucky Money Remittance Malaysia Jo-Anna Chan Axiata Kam Sum Chan Mobile Money International Karen Chand Jeffrey Sachs Center on Sustainable Development McPherson Chanda ZAMPOST Ashichand Chaudhary Forward Community Microfinance Bittiya Sansth Ltd Avinash Chaudhary Forward Community Microfinance Bittiya Sanstha Ltd Caroline Chaumont IFAD Wen Sheng Cheok Hong Leong Bank Sook Fun Cheong Merchantrade Asia Hsien Loong Chew KPMG Deal Advisory Chee Seng Chew ManagePay Services Lekha Chhetri Nepal Leonir Chiarello SIMN Elwin Chin Moneybay Tech Olivia Chow Yokip Consulting Bikash Chowdhury Barua BASUG DIASPORA Seaira Christian- Daniels IFAD Tan Nyat Chuan Bank Negara Malaysia Stephen Oko Chuku Nigerian Postal Service (NIPOST) Lisette Cipriano Vodafone Group Amadou CISSE AIR Ngwa Collins Ngwa NPACCUL Alkali Kallay musa Conteh Office of Diaspora Engagement Affairs Francois Coupienne UNCDF Ghenadie Cretu International Organisation for Migration Mission to the Republic of Moldova Hugo Cuevas-Mohr IMTC Mohr World Consulting D Mark Dacuan PLDT Malaysia Dame Damevski Inpay A.S Phan Dang Hoan RIA-IME Malaysia Silas Magakumar Das Golden KL Union Sumana Das APRACA Nick Day Small World FS Milagros De la Riva Ria Money Transfer India Dieter De Smet The World Bank Group * as of 30 April

27 Erica Dela Cruz Remitly Inc. Josephine Dela Cruz ABRASA MPC Dawit Haileyesus Denegetu Commercial Bank of Ethiopia Hem Raj Dhakal IME Group Deepak Raj Dhungana Upadhyay Kisan Bahuudeshiya Sahakari Sanstha Ltd. Eleonor Dillena Micro-Entrepreneurs Multi- Purpose Cooperative Yves Doho Smallworld financial Services E Mohamed Elhag Eltohami Dr. Karar Secretariate of Sudanese Working Abroad (SSWA) Varun Eknath The World Bank Group Anna Engblom ILO Luis Enrique BloomSolutions Chow Siong Er Hong Leong Bank May Espiritu Ligas Kooperatiba Ng Bayan Sa Pagpapaunlad Belestie Esubalew Ethiopian Postal Service Enterprise F Rosanna Faillace IFAD Mian Farrukh Majeed The Bank of Punjab Noor Fatimah Al-Lameem World Change Centre Paul Fernandez ValYou Fiavota-Maneva Paositra malagasy Brahima Fofana AfBit Rebecca Fraser AUSTRAC G Elena Gafarova CONTACT payment system, QIWI Bank Luciana Garofalo More Money Transfers S.A. Ghazali Ismail Bank Muamalat Malaysia Bhd Kalveen Singh Gill CIMB Bank Pietro Ginefra banca d\ Italia, Italian Central Bank Indra Raj Giri GPL Remittance Malaysia Lidice Gonzalez Honduras Consulat Anna Goos CEIPA David Gordon BestExchangeRates Michael Growder Australian High Commission Eric Guichard Global MESA Ltd Lasalette Gumban National Confederation of Cooperatives (NATCCO) Komal Gupta Nyuvo Gene Gutierrez Inpay A/S H Ghulam Haider RCDP Dalila Hanim Hairuddin Bank Negara Malaysia Ili Farhana Hamidon Access Smartstreet prasad Handunhewa Regional Development Bank Mounia Haoudi Ministere des Marocains resident a l etrangere Ron Hartman IFAD Yasmin Harun Global Rate Andy Hendri Hasibuan Ria Financial Services Nor Erima Hassan IME/Ria Financial Services Md Kamrul Hassan UNCDF Gabor Hava TransferTo Nelushika Hemachandra Central Bank of Sri Lanka Maria Angeles Herranz Ria Money Transfer Arif Yoga Hidayanto Mandiri International Remittance Maria Concepcion (Connie) Hina Access Advisory Daniel Howard SimbaPay Naushad Hussain CIMB I Anslem Onyebuchi Igbokwe National Money Transmitter Association Zafar Iqbal JS Bank Ltd Anna Lisa Isa Micro-Entrepreneurs Multi- Purpose Cooperative Fakhrul Islam UNCDF Kazi Maruful Islam Dhaka University Zambre Ismail Bank Negara Malaysia Nor Manisah Ismail NAVA TRADE Michiko Ito International Organization for Migration Country Mission in Myanmar J Mathieu Jacques International Organization for Migration Arielle Jaffe Mondato Rahul Jain Ramdev Forex Private Ltd Yusuf Jamac Iftin Express pty ltd Trevor Jarrett BestExchangeRates.com Ahmad Noh Jeni Bank Simpanan Nasional Chia Jia Xi Western Union Payments (Malaysia) Nicholas Johnson Medici Consulting Inc. Mathew Joseph Royal Exchange (USA) Inc. Rajesh Lal Joshi Thamel Dot Com Pvt. Ltd. Christopher Joshua Tranglo Adilah Junid Axiata Group Berhad Bijimon Kumar Rajit Muthoot Finance Ltd K Abdul Kader Unmillon Technology Sdn berhad Sanjib Kalita Guppy Selva Raj Kanapathy NS Cashpoint Ahmadou Kane BASIF Md Rezaul Karim UAE Exchange Malaysia Manimakudam Karuppiah Suria Muhabat Resina Katafono Commonwealth Secretariat Amarjeet Kaur Merchantrade Asia Andrew Stephen Kaweesa Posta Uganda Keldi Keli State Minister for Diaspora Jaya Ram Khadka Rural Enterprises and Remittances Project U Win Khaing Central Bank of Myanmar Norliana Khamis Tranglo Shahadat Khan RMIT University Bishnu Bahadur Khatri International School Of Advance Studies Soyeon Kim TransferTo Hailu Kinfe African Union Yip Kah Kit Bank Negara Malaysia Suhnylla Kler SDB Asset Management Sylvia Koh TransferTo Adetayo Alao Koleosho Nigerian Postal Service Vincent Kong Transfast Remittance LLC Anton Korotygin QIWI Bank CONTACT Payment System Mahamady Koussoube Investment Promition Agency of Burkina Faso Raman Krishnan Bank Negara Malaysia Espen Kristensen IME Alok Kumar International fund for Agricultural Development Kanchan Kumar Remitware Payments Inc Kunasegaran Kumarasamy Merchantrade Asia Sherin Kunhibava University Malaya L Eleonora Lago IFAD Kok Foum Lai Polis Diraja Malaysia Catherine Laws International Labour Organization Kin Haw Lee ValYou Nelson leung Sigue Remittance Sigue Corp. David Lighton SendFriend Poh Boon Lim Tml Remittance Center Kuan Yew Lim SMJ Teratai Poh Hong Lim Tranglo Chu Lim Huat Apical (Malaysia) Max Liu EMQ INC. Navindra Liyanaarachchi SANASA Federation Ltd Fiem Llc Ping Express 25

28 Chareen Loh ALLIANCE FOR FINANCIAL INCLUSION Pei Yee Loo ValYou Rogelio Lopez Ria David Low Luno Angel Hui Na Low U Mobile Joel Lumanlan PLDT Hong Kong Cecilia Lumapas M. Lhuillier Financial Services Inc. M Nur Fazlim M. Mohamed Kunju UAE Exchange Malaysia Hasanah Mahmud Bank Negara Malaysia Julia Maisenbacher University of Lausanne Pandeli Majko State Minister for Diaspora Muhammad Abd Hakim Malek Pos Malaysia Berhad Adam Malik MoneyMatch Francesco Manetti IFAD Pavitira Manogaran LendaHand Gianne Francis Alfred Manzano ACCESS Advisory Inc. Gabriele Maria CERFE Sergey Markov RemitRadar LTD Mauro Martini IFAD Ishbel Matheson WorldRemit Makena Mathiu Golden Connections International Pilar Matsumoto Unidos Co. Ltd Lukas May TransferWise Fatou Mboup PDVA DISTRIBUTION Sokim Mel The World Bank Group Restelen Mendoza BCS CREDIT COOPERATIVE Gopakumar Menon NS Cashpoint Dato\ Mohamed Rafique Merican Maybank Islamic Berhad Nabil Mesli Fundación CEPAIM Baba Mhammed Nigerian Postal S Shaik Dawood Mohamed Haniff Metro Money Exchange HABU MOHAMMED Nigerian Postal Service Syaridatul Ain Mohd Saari Pos Malaysia Berhad Moinuddin Moin Pakistan Remittance Initiative Melchessadisch Montilla Abuyog St Francis Xavier Credit Cooperative Caroline Morilhat ADA Chris Moyser Grab Nur Shazreena Muhammad Bank Negara Malaysia Norbert Mumba Alliance For Financial Inclusion Naysan Munusamy MoneyMatch Eiji Murai Unidos Co. Ltd. Ahmad Musthofa PT Bank Negara Indonesia (Persero) TBK Siva Muthaly Asia Pacific University of Technology and Innovation Mary Muthoni Pamoja Women Dev. David Mfanimpela Myeni Centre for Financial Inclusion/Micro Finance Unit Arvind Mylar Xpress Money N Muhammad Naeem Khan M Akram & Sons Trading & Investment Carolyne Namukhula PostBank Uganda Bhola Nath Rural Microfinance Development Centre Ltd Anton Navoy Central Bank of Russian Federation Satish Nayar Ria Money Transfer Pedro Nel Mega Proyectos de Seguridad Alimentaria Eddy Virgo Ng Tourism & Commercial Platform Marco Nicoli The World Bank Group Emma Nieva Msu-Iit National Multi Purpose Cooperative Rachael Njoroge Safaricom Ltd Andrew Nketsiah University Of Cape Coast Claude Nkoya Longofo Fondation des Œuvres pour la Solidarité et le Bien-être Social accredited to UN ECOSOC Alain Nkurikiye Wajenzi Seline Noel Hartawan Tabah Munkhjargal Noov MPT Paul Norton International Organization for Migration (IOM) Paul Norwood AFEX O Oliver O Brien Mukuru Africa Kolawole Odubiyi Sao Global Consults. Henry Oketch Medina Digital Finance Ltd Evelyn Okojie Fosatrade integrate Frank Ong IME Thean Haw Ong M1 Ltd David Onu interra Networks Inc Christine Ooi Tranglo. Ji Lien Ooi UN Migration Agency International Organization for Migration Ade Orekoya Intenergy Nigeria Ltd Yasmin Faizah Osman Max Money P Marja Paavilainen International Labour Organization (ILO) Regional Office for Asia and the Pacific Deborah Palgue Taloy Norte Farmers Multipurpose Cooperative Marlon Palomo PRRM Annielen Panerio Camsur Multi-Purpose Cooperative Sylvia Paraguya National Confederation of Cooperatives (NATCCO) Nisha Paramjothi CIMB Jaecheol Park Sumitomo Corporation Indonesia Nirav Patel Test Kamal Paudel Subhida UK Ltd Nelson Paul PayKii Shalini Pavithran Malaysian Association Of Money Services Business Aileen Penas Atikha Overseas Workers and Communitives Inititiative Inc. Edwin Peraz ACCESS Advisor Sergio Perez Ruiz More Money Transfers SA Bram Peters United Nations Capital Development Fund Jean- Mary Pierre CAPOSAJ Ndongala Pitshou ONG GRADI Pradyuman Pokharel Muktinath Bikas Bank Ltd Ram Krishna Pokharel Citizen Investment Trust Suman Pokharel IME Ltd Shalik Ram Pokhrel Nepal Raastra Bank Narayanan Ponnusamy NS Cashpoint Frederic Ponsot IFAD Anindya Pradipta Kyodai Remittance Randy Prado Republisys Inc Sireethorn Pushpakom Bank of Thailand R Md Shahidur Rahman IME MD Rahman Ekattor Media Mohammed Mahfuzur Rahman Everbright Foundation Thomas Rahn GIZ Bijaya Kumari Rai Shrestha AMKAS Nepal Raja Madihah Raja Alias International Islamic University Malaysia Sarveswaran Raja Gopal Merchantrade Asia Dianne Rajaratnam United Nations Better Than Cash Alliance Uma Rajoo The World Bank Group SMA Rakib BURO Bangladesh Sm Rakibuzzaman Placid Nk Corporation Venkat Ramesh. Borra RIA Money Transfer Prasanna Rao ValYou Alexander Raquepo Sta. Cruz Savings And Development Cooperative Vijay Ratna Jawaharlal Nehru University 26

29 Samir Razuk Inyo Fahad Rehman ValYou Ignacio Reid Ria Financial Krishnamoorthi Renganadhan Medallion Communications Ltd Travis Renz IFAD Noni Rispoli International Organization for Migration (IOM) Nicasio Rollan III AXA PHILIPPINES Nimol Roth National Bank of Cambodia Puck Rozenbroek The World Bank Group Panji Winanteya Ruky The Executive Office of the President Republik Indonesia S Hoy Saksa Cambodia Microfinance Association balachandar Sathyanarayanan InstaReM Malaysia John Scrofano Remitly Sam Seinthan Lycamobile Ltd Santanu Sengupta FFIFS Adilson Sequeira Ria Money Transfer Jaspreet Singh Sethi United Nations Capital Development Fund Syahiru Shafiai Universiti Sains Islam Malaysia Suhail Shamsi Ria Financial Services Arjun Poudel Sharma IME Cooperative Services Ltd Karen Chan Rui Shee ValYou Inga Shirakyan Central Bank RA Md Nur E Alam Siddiqui Placid Express Zillur Rahman Siddiqui Greenland Human Resources Srihari Sikhakollu Hong Leong Bank Fernando Silvoza Bangko Sentral ng Pilipinas Abhaya Bahadur Singh ACCESS Advisory Prithipal Singh Happy Remit Supriya Singh RMIT University Klinkaew Sitthisangkhom Bank of Thailand Hiroyuki Soejima Unidos Co. LTD Mafoday Sonko LumoXchange Chin Kang Soo Sunway Money Siyout Srey National Bank of Cambodia Veronica Studsgaard IAMTN Michel Stuijt Eurogiro A/S S Narayanan Subbarayan Merchantrade Asia Mary Sugajara UNIDOS CO. LTD. Mohammad Sulaiman CREED Md Mehedi Hasan Sumon MyCash Online (MC ONLINE) Wahyu Surahmat Mandiri International Remittance T Shankar T.S. Western Union Business Solutions Quy Ta Duy State Bank of Vietnam Andrew Takyi-Appiah Zeepay Kian Hong Tan TML Remittance Center Siak Teng Tan Ria Financial Services Thomas Tan Kok Kiong CIMB Bank Berhad Chandra Tandan City Express Money Transfer Aaron Tang Luno Placide Zonata Tapsoba Investment Promotion Agency Of Burkina Faso William Sze Wei Tee ValYou Ghin Shia Teo IME Ooi Heong Teoh Telenor Group Yukay Tham Citi Sophie Thelosen Developing Markes Associaties Cornelis Theodorus Auxfin International Ganesh Prasad Timalsina Nepal Federation of Saving and credit Union Ltd. Eliana Tokashiki Unidos Co. Ltd. Fred Tony Caribbean Airmail Inc. Mamadou Toure NUMHERIT Bhairav Trivedi Personal Aminul Tushar WARBE Development Foundation U Masako Ueda International Organization for Migration Sri Lanka Office Asmat Ullah Dollar East Exchange Co(PVT) Ltd. Md. Shahid Ullah Development Initiative for Social Advancement (DISA) Nirmal Kumar Upreti Foreign Employment Promotion Board V Adek Vania Bank indonesia Bibiana Vasquez IFAD V Maslamani Vatharajoo Al Rajhi Bank Ramasamy K. Veeran Merchantrade Asia Domini Velasquez Domini Velasquez Rajandren Velayuthan Numoni DFS Dora-Olivia Vicol Queen Mary University of London School of Geography Rolando Victoria Alalay sa Kaunlaran Inc. Ma Corazon Vispo Basud Development Cooperative (BADEVCO) Ioan Vladimir Epay Worldwide W Bassirou Wade Postefinances Mohammad Khurshid Wahab Bangladesh Bank Frederick Wasike Postbank Uganda Lara White International Organization for Migration Rochelle Whyte Planning Institute of Jamaica Vincent Wierda UN Capital Development Fund Amila Wijayawardhana Central Bank of Sri Lanka Thilan Wijesuriya Axiata Group Berhad Peter Williamson AUSTRAC Michal Wojciech AXA Valerie Wolff ICMPD Tian Choy Wong TML Remittance Center Y Ramlan Yaakop PLACID EXPRESS Adrian Yap MoneyMatch Sam Yap Ameertech Remittance & Exchange Services Pte Ltd Yeam Shin Yau Bank Negara Malaysia Michelle Yien Bitspark Ltd Eric Yong J. L. Western Union Payments (Malaysia) Z Leandro Javier Zaccari Tognetti Fundacion Migrantes Y Refugiados Sin Fronteras Sajeel Zahid ValYou Md Zahid Hossain Ministry of Expatriates Welfare and Overseas Employment Siti Nabila Huda Zaidisham Touch-n Go Nor Shahrina Zailani Kasturi Martabat Md Rokon Uz Zaman Bangladesh Bank Khairil Zhafri ValYou/Telenor Dora Ziambra Azimo 27

30 The Organizers Bank Negara Malaysia Bank Negara Malaysia is a statutory body which started operations on 26 January Governed by the Central Bank of Malaysia Act 2009, its principal role is to promote monetary and financial stability conducive to the sustainable growth of the Malaysian economy. The Bank also plays a significant developmental role, including the development of financial system infrastructure and the active promotion of financial inclusion. As the banker and adviser to the Government, the Bank provides advice on macroeconomic policies and the management of public debt. Its other roles include being the sole authority in issuing the national currency and in managing the country s international reserves. The World Bank Group The World Bank Group is one of the world s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. In March 2016, the World Bank Group launched its Global Knowledge and Research Hub in Malaysia. The Hub is the first of its kind, serving both as a field presence in Malaysia and as a global knowledge and research hub. It focuses on sharing Malaysia s people-centered development expertise and creating new innovative policy research on local, regional and global issues. International Fund for Agricultural Development IFAD, a specialized agency of the United Nations, was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference. IFAD s mandate is to invest in rural people to eradicate poverty in developing countries. Working with poor rural people, governments, donors, non-governmental organizations and many other partners, IFAD focuses on country-specific solutions, which can involve increasing poor rural people s access to financial services, markets, technology, land and other natural resources. 28

31 The Partners The Alliance for Financial Inclusion is a network of financial inclusion policymakers. AFI s core mission is to encourage the adoption of inclusive financial policies in developing nations, to lift 2.5 billion citizens out of poverty. AFI was founded in 2008 as a Bill & Melinda Gates Foundation-funded project, supported by AusAid, in order to advance the development of smart financial inclusion policy in developing and emerging countries. AFI s network has more than 100 institutions from more than 89 member nations. IMTC is a forum of the money transfer industry, a forum of people involved in providing cross-border financial services, such as money transfer operators, banks and mobile money operators involved in financial services, and a large array of institutions, brick-and-mortar or digital first, for-profit and non-profit, that provide services along migration corridors, to people or companies, personal or commercial, formal or informal. The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences. The International Association of Money Transfer Networks is the only global international trade organisation that represents money transfer industry/ payment institutions providing cross-border payments. Founded in 2005, IAMTN provides a platform for industry partners to come together to discuss common challenges and industry initiatives, and create opportunities. IAMTN works closely with governments, regulators, regional associations and all other stakeholders to champion the creation of the most effective, safe, reliable and efficient payment systems. Malaysia Association of Money Service Business is the national association for licensees under the Money Services Business Act 2011 (MSBA) as well as those enterprises that have been approved as money services business agents to principal licensees under the MSBA. MAMSB is dedicated to advancing the money services business industry in Malaysia. Its ultimate aim is to ensure alignment with the national agenda to promote modernisation and professionalism of the money services business industry while representing the interest of members. The Microfinance Gateway is a global resource on financial inclusion. Since 2000, CGAP s Microfinance Gateway has been a valuable resource for individuals and organizations working to advance financial inclusion for the world s poor. The Gateway welcomes more than 1 million annual visitors from over 200 countries, who recognize the Gateway as the web s leading resource for knowledge and career development opportunities in microfinance and financial inclusion. World Savings Banks Institute brings together savings and retail banks from 80 countries, representing the interests of approximately 6,000 banks in all continents. As a global organisation, WSBI focuses on issues of global importance affecting the banking industry. It supports the aims of the G20 in achieving sustainable, inclusive and balanced growth and job creation around the world, whether in industrialised or less developed countries.

32 The GFRID series is brought to you by: International Fund for Agricultural Development Financing Facility for Remittances Via Paolo di Dono, Rome, Italy Tel: Fax: ifad-un.blogspot.com instagram.com/ifadnews For more information, contact us at phone Kuala Lumpur: Rome and follow us at Please see the Terms and Conditions here: May 2018 Partners of IFAD s Financing Facility for Remittances: