In the context of remittances, a service provider that handles the delivery of migrants’ money – usually in the local currency – destined for their families back home. No reliable information is currently available on the exact scope or practices of this business, although international organizations – notably the World Bank – national central banks and regulators have sought transparency. – See secret tip, money transmission, money transfer regulation. Money laundering, ghetto banking, hawala, collection agency, customer data information obligation, parallel banking, remittance services, shadow banking, underground banking, angle brokers, payments regulation. – Cf. ECB Monthly Bulletin, February 2007, pp. 95 ff. (Payments by migrants; definitions, overviews).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/