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Understanding Remittances: Regulatory Aspects

An understanding of the legal and regulatory aspects of remittances is important. The existence of multiple channels and the institutional and legal environment governing remittances transactions pose numerous challenges to fund transfer operators. Furthermore, the regulatory environment and practices substantially vary across countries in the treatment of entities engaged in fund transfers and the various modes of transfer used, which has significant implications for the business. In order to simplify the above, we have come up with our ranking of key countries in Asia when it comes to regulations and the ease of setting up a remittance business. Full Harvey Balls indicates a country which is very open to nonbanks while an empty Harvey ball indica ...

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