Matthew Offord – 2015 Parliamentary Question to the Department for International Development

The below Parliamentary question was asked by Matthew Offord on 2015-09-16.

To ask the Secretary of State for International Development, what steps her Department is taking to ensure that remittances are delivered to their intended recipients.

Mr Desmond Swayne

Remittances are a vital lifeline for many poor people in developing countries. DFID works through the World Bank Group and a network of Financial Sector Deepening entities across Africa to support the delivery of remittances to poor people and strengthen regulations that govern the operation of secure and legitimate payment channels.

As a member of the Action Group on Cross Border Remittances, we work with regulators and the industry bodies for banking and Money Service Businesses (MSBs) to: increase supervision of MSBs, improve industry guidance and training, clarify regulatory requirements, monitor market risk and support a safer corridor for UK-Somalia remittances.