Consultative Group to Assist the Poor Releases Technical Guide for Developing and Delivering Money Transfers

The Consultative Group to Assist the Poor (CGAP) released its 126 page guide found here entitled “Making Money Transfers Work for Microfinance Institutions: A Technical Guide to Developing and Delivering Money Transfers.” This guide is part of CGAP’s Money Transfer Initiative, designed to increase market transparency and improve the supply of money transfer services for low-income clients. The purpose of this technical guide is to help financial service providers determine whether offering the risky services associated with money transfer is in their best interests. The guide also helps with the selection of appropriate strategies, products, and institutional structures needed to support a successful operation. Thus, the intended audience includes the senior management of financial service providers such as MFIs and other institutions that serve low-income clients. CGAP stresses that policymakers, regulators, funders, and others involved in the money transfer market may also benefit from this guide.

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