Remittances and Migration Not Likely To Be Top Of Obama Agenda
This is clearly a momentous week in World politics but ’Migration issues and remittances are not likely to be top of President-elect Obama’s priority list’ commented Leon Isaacs, Managing Director of the International Association of the Money Transfer Networks (IAMTN). The USA is the largest send market for remittances with over US$ 42 billion being sent around the World and predominantly to Latin America. A global decline in remittances has been forecast by the World Bank and the Inter-American Devolpment Bank for this year. Clearly the state of the economy and migration policy will have a major impact on money transfers made by migrants.
Although in his election campaign Mr Obama had three clear migration policies, securing borders, improving the immigration system and ’bringing people out of the shadows’ (by legalising their status in a controlled manner) ’IAMTN’s view is that addressing the global economic situation will be the top priority and that remittances will be affected by that far more than by immigration policy in the next two years. We anticipate that immigration will be more of a focus half way through this administration.’
IAMTN is the only international trade association, representing Money Transfer industry across the globe.
The members of IAMTN provide the full range of money transfer (remittance) services to private individuals and small businesses in over 150 countries and territories.
As a truly global lobbyist of the remittances industry, IAMTN raises awareness of importance of the money transfers as one of the most dynamic sectors of the world economy as well as a widely spread social phenomenon.
IAMTN works closely with governmental agencies, financial regulators and anti-money laundering bodies to make sure that the money transfers legislation reflects the realities of the modern world and provides for efficient and affordable remittance services to the customers around the world.
As a trade organisation, International Association of the Money Transfer Networks provides its members with access to the potential business partners internationally, research data on money transfers and associated industries.
Over 4300 industry professionals and members of the press subscribe to the Money Transfers newsletter, published by IAMTN.
IAMTN is the key driver of the Annual Global Consumer Money Transfers (GCMT) conference in London and Money Transfers Dubai which is being held on 9 March at the Shangri-La Hotel in Dubai.
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