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Isaku Endo

Description

This report, Remittance Corridors to Uganda: United Kingdom, United States, and South Africa, analyzes and compares three bilateral remittance corridors. The comparison highlights similarities and differences and the significance of the remittance-sending countries to Uganda in terms of volume, corridor formality, risks, and vulnerability to money laundering. It also describes Uganda as a remittance-receiving country and outlines the remittance flows, market players, distribution network, access and usage of remittance, regulatory framework, and measures taken toward anti-money laundering and combating financing of terrorism (AML/CFT). The issues and challenges faced by Uganda are identified and policy recommendations are made for both Uganda and remittance-sending countries.

Sujets

• Remittance
• Uganda
• Foreign Exchange
• United States
• United Kingdom
• Migration
• Anti-money laundering
• Payment system
• South Africa
• World Bank

Informations

• Publié par: world-bank-publications
• Publié le: 11 novembre 2010
• Nombre de lectures: 32
• EAN13: 9780821384442
• Langue: English

Extrait

W ORLD BANK W ORKING PAPER NO. 201
Uganda’s Remittance Corridors
from United Kingdom,
United States, and South Africa
Challenges to Linking Remittances
to the Use of Formal Services
Isaku Endo
Jane Namaaji
Anoma Kulathunga
THE WORLD BANKWORLD BANK WORKING PAPER NO. 201
Uganda’s Remittance Corridors
from United Kingdom, United
States, and South Africa
Challenges to Linking Remittances
to the Use of Formal Services
Isaku Endo
Jane Namaaji
Anoma KulathungaCopyright © 2011
The International Bank for Reconstruction and Development / The World Bank
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Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
printed on recycled paper
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ISBN: 978-0-8213-8430-5
eISBN: 978-0-8213-8444-2
ISSN: 1726-5878      DOI: 10.1596/978-0-8213-8430-5
Library of Congress Cataloging-in-Publication Data
Endo, Isaku.
Uganda’s remi ance corridors from United Kingdom, United States, and South Africa :
challenges to linking remi ances to the use of formal services / Isaku Endo, Jane Namaaji, Anoma
Kulathunga.
p. cm.
Includes bibliographical references.
ISBN 978-0-8213-8430-5
1. Emigrant remi ances—Great Britain. 2. Emigrant remi ances—United States. 3. Emigrant
remi ances—South Africa. 4. Emigrant remi ances—Uganda. 5. Foreign exchange—Uganda.
I. Namaaji, Jane. II. Kulathunga, Anoma. III. Title.
HG3943.E53 2011
332’.04246096761—dc22 2010037955
4444444Contents
Acronyms and Abbreviations .................................................................................................... vii
Currency Conversion ........................................................................................................... viii
Foreword ..........................................................................................................................................ix
Acknowledgments .......................................................................................................................... x
Executive Summary .......................................................................................................................xi
The Importance of Remi ance to Uganda ...........................................................................xi
The Remi ance Senders and Market Structure in the Three Corridors ..........................xi
The Challenges Facing Uganda ............................................................................................xii
Improving the Remi ance Market in Uganda ...................................................................xii
Concluding Remarks ............................................................................................................xiii
1. Introduction .................................................................................................................................. 1
Report Scope and Objectives .................................................................................................. 2
Organization of the Report .....................................................................................................3
Global Trends on Remi ance Flows ......................................................................................3
Remi ances in Sub-Saharan Africa ........................................................................................ 4
Remi ances in Uganda 5
Defi cient Data on Remi ance Flows and Migration ........................................................... 8
2. Analysis of Three Remi ance-Sending Countries .............................................................11
Remi ance Senders ................................................................................................................12
Remi ance Flows ....................................................................................................................19
Remi ance Mechanisms ........................................................................................................19
Remi ance Costs .23
Regulatory Framework .......................................................................................................... 26
3. Analysis of Uganda as a Remi ance-Receiving Country ..................................................42
Remi ance Flows .42
Remi ance Market .................................................................................................................44
Distribution Network, Access, and Usage of Remi ance .................................................46
Mobile Phone Services in Remi ances ................................................................................47
Use of Remi ance Funds .......................................................................................................49
Remi ance Costs ....................................................................................................................50
Regulatory Framework .......................................................................................................... 51
AML/CFT Measures ...............................................................................................................53
4. Findings and Observations ..................................................................................................... 55
Summary of Findings in Uganda ......................................................................................... 55
iii
4444444444444444444iv Contents
Summary of Findings in the Three Bilateral Remi ance Corridors ...............................56
Issues and Challenges ............................................................................................................ 57
Policy Responses with Direct Impact on Remi ances ......................................................65
5. Recommendations ..................................................................................................................... 67
Short-Term Recommendations for Uganda (within one year) ......................................... 67
Mid-Term Recommendations for Uganda (one to three years) ....................................... 68
Long-Term Recommendations for Uganda (three years or more) .................................. 68
Recommendations for Sending Countries .......................................................................... 69
Concluding Remarks .69
Annex A. Estimation of Remi ance Flows to Uganda from the
United Kingdom, United States, and South Africa .............................................. 71
Annex B. Use of Remi ances in Uganda .................................................................................. 77
Annex C. Remi ance Impact on Housing Finance in Uganda ............................................. 79
Annex D. Overview of Migrant Workers in the United Kingdom,
United States, and South Africa ............................................................................... 82
References and Select Bibliography .......................................................................................... 88
List of Boxes
Box 2.1 Ugandan North American Association: A Ugandan Diaspora Group ..................... 16
Box 2.2 Masterlink Remi ance Model ........................................................................................21
Box 2.3 FATF Recommendations ..........