Through Mastercard Cross-Border Services, Equity Bank customers will be able to send funds through any Equity Branch Location in Kenya.

The $125 billion influx signifies the unwavering commitment and support of the Indian diaspora to their families and communities.

Visa recently teamed up with Oxfam America to serve as a payments partner in the Philippines, Columbia, Puerto Rico and Kenya.

The increase in remittances comes despite the impact of the pandemic on wages and employment across the world.

Money transfer companies in the UAE are trying to contribute in their own way to fight the COVID-19 pandemic situation in India by waiving charges to funds being transferred to India’s PM Cares Fund and Kerala Chief Minister’s Distress Relief Fund

Remittances in March 2021 amounted to $290.8 million, compared to $228.8 million in March 2020, an increase of 27.1 percent.

The World Bank has warned that the weaker-than-expected growth elsewhere in the world due to the pandemic may undermine the recovery in Bangladesh and other countries in South Asia.

UAE emerges second largest source of remittances for Pakistan in first five months of FY 2021.

This initiative follows the Central Bank of Nigeria (CBN) directive to enable global money transfers to be paid in US Dollars in an effort to streamline and increase the flow of formal diaspora remittances into Nigeria.

At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate.