Diagnostic Report: Regional Harmonization of Remittances in the IGAD region

At the request of the IGAD Secretariat, UNCDF has worked with the Secretariat and other public and private stakeholders to conduct a regional diagnostic assessment of existing remittance arrangements, laying the groundwork for a response to improving the current regional cross-border remittance arrangements and proposing a road map of practical steps needed to achieve harmonization of remittance policies and practices. This assessment—of policies, laws, regulations, and cross-border remittance-related infrastructure—aims to create a roadmap for effective mechanisms to facilitate remittances between the residents of the participating countries. Observations and comments on each of the respective policies, laws, and regulations have been benchmarked against those in a range of comparable yet diverse policy and economic environments across Africa and Asia. The authors have also mapped the enablers, inhibitors, and recommendations in the areas identified for possible intervention. Therefore, this report will prompt discussions, dialogue, and alignment between and among the IGAD Member States and relevant stakeholders to ensure the implementation of a straightforward and compelling regional roadmap on harmonizing remittance policies with key actions going forward.