This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and explores drivers of this phenomenon drawing on recent surveys and select country...

In spite of regulatory authorities' endeavor to promote the Fintech startups in the heavily regulated cross-border remittance market, its development has been slow and sporadic. The lingering uncertainty stems from a combination of factors: legacy infrastructures for silo-type of regulatory...

Hawala and other remittance systems have gained attention in recent years with the substantial growth of remittance flows from countries with large migrant labor forces and with increased focus on combating money laundering and the financing of terrorism. The IMF and the World Bank have been...

The paper looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international organizations

Drawing on the rich firm-level enterprise survey dataset of more than 58,000 small enterprises in 39 developing and emerging economies, this study investigates gender disparities in firms' financial fragility, credit demand, and credit provision during the COVID-19 pandemic, and the role of...