The remittance industry will flourish best when the regulatory framework is sound and predictable. Ethiopia is taking steps in this direction, which can be instructive for other countries going forward, write Amil Aneja and Eliamringi Mandari, programme lead and lead remittance policy specialist, respectively, at UNCDF’s Migration & Remittances portfolio.
Regulatory Reforms Turn the Page on Ethiopia’s Illusive Remittances
Location
Africa
A conducive and enabling regulatory framework is the foundation for competitive market conditions for non-bank financial service providers, including supporting access to domestic payment infrastructures. Such a framework should lead to lower remittance costs, increased cross-border remittance flows through formal channels, and expanded use of digital financial services. This blog highlights the steps Ethiopia is taking to implement crucial reforms that will benefit remittance flows, migrants and communities, and inward investment.
Location
Africa
Topic
Policy and Regulations