ADEPT in the news: PaymentsCompliance

Written by ADEPT

2 September 2016

Kenya Backs Plans To Review Costly Remittance Regulations

 

ADEPT’s Interim Director, Gibril Faal was interviewed by PaymentsCompliance on the outcome of DDD5 and the Nairobi Action Plan to reduce remittance costs to less than 3% by 2020. A section of the article is featured below.

—————-

Kenya’s government has backed proposals to review regulatory and market factors that make sending money to Sub-Saharan Africa the most costly remittance channel in the world.

The initiative is being spearheaded by ADEPT, an international organisation for supporting diaspora development, which is currently considering which ten countries will be part of the initial scheme.

According to ADEPT, the purpose of the campaign is “to reform regulation, facilitate competition, promote interoperability, create social enterprise [money transfer operator] platforms and stimulate innovation in the money transfer sector”.

Read the full story on PaymentsCompliance

You May Also Like…

UNNM Annual Meeting

The annual meeting of the United Nations Network on Migration (UNNM)  took place on 18-19 October 2022, and ADEPT team...

ADEPT’s Activities report 2021

ADEPT’s Activities report 2021

During this year, everyone worked together to survive the COVID-19 pandemic. National and local governments, NGOs,...