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What will 2013 hold for the remittances industry?


As every year the International Association of Money Transfer Networks (IAMTN) has the pleasure in inviting money transfer professionals from all over the world to the Dubai Summit (MTD) -2013.

IAMTN will be hosting its 6th Dubai Money Transfers Summit on 26th March 2013 at the Grand Excelsior Hotel Al Barsha Dubai - United Arab Emirates.

For many countries, remittances constitute a large source of foreign income relative to other financial flows. The flow of migrant money around the world has shot up to record levels. Remittances flows topped $530bn during 2012, according to the latest World Bank figures.

2012 was a tough year for remittances for many around the world but not so for the Gulf States.  It was the one area that showed strong growth in outbound transactions driven by economic growth in the area and strong oil prices.  In fact without the strong performance of the region global remittance numbers would probably have fallen across the world.  What will 2013 hold?  Will growth in the region continue? What are the key drivers? How can businesses gain better access to bank accounts?  What new developments will we see?  Can businesses work together in meaningful partnerships?

The Dubai Summit will begin by providing a global context on remittances. Whilst global volumes are predicted to rise overall we anticipate strong growth in the Middle-East.  We will look at what has changed and, more importantly, what is likely to change.  We will look at the major flows and some of the opportunities and threats to continued growth.  With transactions to India, Pakistan, Philippines, Sri Lanka and others growing we will look at some of the major transaction trends and the reasons for them. Whilst the US to Mexico is the largest single remittance corridor, transactions from the Gulf States to India, Philippines, Pakistan, Sri Lanka and transactions to other parts of Asia and Africa form the largest group of transactions globally.  There are similarities and differences between all of the main corridors and here we will examine some of the key features of each of these areas.

During January 2013, IAMTN elaborated 10 predictions for the remittance Industry during 2013.

According to Leon Isaacs, Prediction 1: “Overall remittance growth will continue broadly in line with World Bank predictions.  The Gulf will be the catalyst for more growth and overtake the US as the biggest market.”

These questions and many others will be addressed at the sixth Money Transfer Dubai Summit. We will continue to examine the areas that are having the biggest impact on the remittances and international payments market.  In a similar fashion to the previous five conferences, the one day conference will not only provide tremendous information and networking opportunities but will also throw out challenges to all attendees to re-examine their business strategies and ensure that they are positioned to seize the opportunities and tackle the challenges – particularly as the world looks further east.

MTD will feature an unparalleled group of experts and speakers who will stimulate discussion and create debate.  Each successive MTD is ever more interactive and 2013 raises the quality level to its highest yet.

In addition there will be a continuation of the discussion and an update on progress to the vital area of access to bank accounts for money transfer businesses.

Contact our Event Manager, Kellie Waidson, to confirm your place.

In order to increase your company exposure to our outstanding network of international contacts reserve your Sponsorship package. You will enhance your brand image while communicating your core values to new markets. As a result, you will improve your company’s image and reputation throughout the industry and increase awareness of your services within our network. This will provide you with instant brand recognition throughout the industry, allowing you to expand and strengthen your contact and client base.

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