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Global Forum on Remittances, Investment and Development 2018 Asia-Pacific OFFICIAL REPORT

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Global Forum on Remittances, Investment and Development 2018 Asia-Pacific OFFICIAL REPORT Global Forum on Remittances, Investment and Development 2018 Asia-Pacific OFFICIAL REPORT 8-10 May Kuala Lumpur, Malaysia www.gfrid2018.org [email protected] In collaboration with The Global Forums on Remittances, Investment and Development are a series of forums organized by IFAD’s Financing Facility for Remittances in collaboration with international organizations, public and private institutions. For additional information please contact: Pedro de Vasconcelos Programme Manager Financing Facility for Remittances International Fund for Agricultural Development Via Paolo di Dono, 44 – 00142 Rome, Italy Tel: +39 06 5459 2012 – Fax: +39 06 5043 463 E-mail: [email protected] www.ifad.org/remittances www.RemittancesGateway.org This publication or any part thereof may be reproduced without prior permission from IFAD, provided that the publication or extract therefrom reproduced is attributed to IFAD and the title of this publication is stated in any publication and that a copy thereof is sent to IFAD. © 2019 by the International Fund for Agricultural Development (IFAD) Lead author: Pedro De Vasconcelos Prepared by: Alessandra Casano Written by: Chris Jarzombek Graphic designer: Andrea Wöhr Printed in February 2019 Table of contents List of acronyms ............................................................................................ 3 Foreword ..................................................................................................... 4 GFRID 2018 Outcomes ������������������������������������������������������������������������������������ 5 About the GFRID 2018 Asia-Pacific .................................................................... 9 Key objectives �������������������������������������������������������������������������������������������10 Main messages .........................................................................................10 Key statements ..........................................................................................11 Remitscope – Remittance Markets and Opportunities in Asia and the Pacific .................12 The Forum Agenda �������������������������������������������������������������������������������������12 Forum statistics .........................................................................................13 Future of the Forum ....................................................................................13 The International Day of Family Remittances .......................................................14 Private Sector Day – 8 May ..............................................................................15 Session I: Opening and keynote address: migration and development in Asia-Pacific .......15 Plenary II: People on the move and inclusive financial services in a globalized economy ... 22 Plenary III: Remittance market in Asia-Pacific: overview ......................................... 23 Session II: Remittances and investments: global trends and perspectives �������������������� 25 Session III: Market opportunities to develop inclusive remittances and impact diaspora investment ................................................................................... 27 Wrap up of the Private Sector Day .................................................................. 33 Session IV: The RemTECH Awards – 2018, Asia-Pacific ......................................... 34 Session V: Interactive workshops .................................................................... 35 Technical Workshops and Stakeholders Events – 9 May ........................................ 35 Session V: GFRID 2018 Stakeholder Events ....................................................... 39 Session VI: Promoting conducive and enabling remittance markets ........................... 42 Public Sector Day – 10 May ............................................................................ 42 Session VII: Migration, development and the SDGs ...............................................47 Wrap up of the GFRID 2018 ..........................................................................51 1 Table of contents Annexes .................................................................................................... 52 I The GFRID2018 in pictures ..................................................................... 52 II The Remittance Marketplace ................................................................... 54 III Media ���������������������������������������������������������������������������������������������� 55 IV The venue ......................................................................................... 56 V The Global Forums ������������������������������������������������������������������������������� 57 VI Resolution of the United Nations General Assembly on the International Day of Family Remittances...................................................................... 58 VII List of speakers................................................................................... 62 VIII List of participants ............................................................................... 66 IX The organizers ������������������������������������������������������������������������������������ 70 X The partners .......................................................................................71 2 List of acronyms ADB Asian Development Bank GMG Global Migration Group AFI Alliance for Financial Inclusion GPFI Global Partnership for Financial Inclusion AML/CFT anti-money laundering and combating IAMTN International Association of Money the financing of terrorism Transfer Networks APRACA Asia-Pacific Rural and Agricultural Credit IDFR International Day of Family Remittances Association IFAD International Fund for Agricultural AUSTRAC Australian Transaction Reports and Development Analysis Center IFI international financial institution BNM Bank Negara Malaysia (the Central IMTC International Money Transfer Conferences Bank of Malaysia) IOM International Organization for Migration CEO Chief Executive Officer KoFIU Korea Financial Intelligence Unit CGAP Consultative Group to Assist the Poor KYC know-your-customer CLMV Cambodia, Lao PDR, Myanmar and MAMSB Malaysia Association of Money Services Viet Nam Business COO Chief Operating Officer MDGs Millennium Development Goals DLT distributed ledger technologies MFMI Migrant Family Motivation Initiative DMA Developing Markets Associates Ltd MSB money services businesses EBG Equity Bank Group MTO money transfer operator EC European Commission NMTA National Money Transmitters Association e-KYC electronic know-your-customer ODA official development assistance EPA Emerging Payments Association PSD Payment Services Directive EU European Union PSD2 Revised Payment Services Directive FATF Financial Action Task Force RSP remittance service provider FFR Financing Facility for Remittances SDGs Sustainable Development Goals FSB Financial Stability Board SME small and medium enterprise FSP financial service provider SVP Senior Vice-President GC/M Global Compact on Safe, Orderly and TA technical assistance Regular Migration UNCDF United Nations Capital Development Fund GDP gross domestic product UN-DESA United Nations Department of Economic GFMD Global Forum on Migration and and Social Affairs Development UPU Universal Postal Union GFRID Global Forum on Remittances, Investment WSBI World Savings and Retail Banking Institute and Development 3 Foreword Over one billion people around the world are impacted will arrive in Asia-Pacific, very often in small towns and by remittances, either as senders or receivers. More than villages where these flows count the most. One in 200 million migrant workers contribute, through these every 10 people (senders and receivers) in the region vital flows, to raise their living standards and ensure is directly affected by remittances, contributing more their families’ improved health, education and housing. than 10 times net official development assistance from Remittances also allow migrant workers and their families all sources combined. Remittances to Asia-Pacific to be more entrepreneurial and resilient, particularly in rural remain the highest in the world, at US$256 billion in 2017 areas of developing countries. At times of emergencies, (53 per cent of worldwide flows), and more than 4 billion during natural disasters, economic upheavals and people live in 29 remittance-receiving countries in political instability, remittance senders are often the first the region. to respond, providing for the daily needs of their families. The GFRID 2018 Asia-Pacific saw the launch of the Leveraging these remittances and enabling migrant web-platform RemitSCOPE. This platform provides data, workers’ investments to have greater development analyses and remittance-market profiles for individual impact are at the heart of discussions shared at countries. RemitSCOPE Asia-Pacific contains market IFAD’s Global Forum on Remittances, Investment and profiles for 50 countries in the region. Other regions will Development (GFRID). The Forum is held every two be gradually included. years, bringing together key stakeholders from the private and public sectors, and from the civil society. The GFRID 2018 further promoted partnerships, Each GFRID is held in collaboration with key regional exchange of knowledge and best practices, and and international financial institutions, as well as other connected the key actors across sectors involved in the international organizations such as the World Bank Asia-Pacific marketplace.
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