IGAD Member States Urged to Increase Flow of Remittances by Updating Policies

The Intergovernmental Authority on Development (IGAD) member states should increase the flow of their remittances by making their policies compatible and modernizing their practices, Deputy Director General of the Ethiopian Diaspora Agency said.

In his opening remarks to a conference on flow of remittances in Entebbe, Uganda, Deputy Director General of the Ethiopian Diaspora Agency, Mohamed Endris, thanked IGAD for focusing on the importance of remittances from the diaspora.

Ethiopia has carried out legal reforms and institution building to enhance the benefits it gets from the diaspora, he said, adding that the establishment of the Ethiopian Diaspora Agency is one example of this effort.

With the legal and institutional reforms in place, the involvement of the diaspora in public diplomacy and acquiring resources has been steadily improving.

The three-day conference being attended by representatives of diaspora institutions, central banks, telecom service providers and financial intelligence institutions have discussed the situation of member states with respect to the eight international standard measurements that help boost remittances.

In this regard the status directions were given on the way forward, it was learned.

In addition, there was exchange of experiences between countries and recommendations were  also made on legal and operational frameworks that apply to countries based on their status.

Source:  Ethiopia News Agency