{"id":1606,"date":"2023-05-12T06:32:00","date_gmt":"2023-05-12T04:32:00","guid":{"rendered":"https:\/\/remitscope.org\/?page_id=1606"},"modified":"2023-06-13T15:46:18","modified_gmt":"2023-06-13T13:46:18","slug":"about","status":"publish","type":"page","link":"https:\/\/remitscope.org\/about\/","title":{"rendered":"About RemitSCOPE"},"content":{"rendered":"

RemitSCOPE \u00a0Africa is a component of the PRIME Africa project \u2013 a 4 year project funded by the European Commission and managed by the\u00a0Financing Facility for Remittances (FFR)<\/a>\u00a0within the UN International Fund for Agricultural Development (IFAD). PRIME Africa aims to reduce the costs of remittances from the EU to Africa and enhance financial inclusion.<\/p>\n

Within these goals, several of\u00a0PRIME Africa\u2019s<\/a>\u00a0activities are addressed through the RemitSCOPE website including addressing the data gap and increasing market competition. More information on the market can be leveraged to create better products and services for diaspora members and their families.<\/p>\n

DMA Global<\/a>, a development consultancy firm, has led the research and data compilation of RemitSCOPE. This website was built by ADL and the dashboards were built by Visualitics.<\/p>\n

Industry input and feedback<\/strong><\/h2>\n

RemitSCOPE is the first iteration of an ongoing process to develop a \u201cone-stop-shop\u201d for international data on remittances. We would appreciate your comments to inform our process of continual improvement. Future iterations are planned for regional and national remittance and remittance-related data.<\/p>\n

As detailed in the RemitSCOPE Methodology<\/u>, some of the data is collected through RemitSCOPE primary research. This is a challenging process for every country, and as markets are continuously evolving, we provide data to the best of our knowledge at the time of data collection. As such, we welcome any additional information and market intelligence you have to ensure data sources are accurate and up to date.<\/p>\n

RemitSCOPE is built by the remittances community, for the remittances community and needs your input and insights to keep it up to date and accurate. Please share your feedback through the Contact Us at the bottom of the page.<\/p>\n

Follow us on social media (Facebook<\/a>\u00a0and\u00a0Twitter<\/a>) and\u00a0sign up to our newsletter<\/a> to be informed when new data, features and tools are added.<\/p>\n

Wider aims and future plans<\/strong><\/h2>\n

RemitSCOPE is an industry-first compilation of all remittance-related data that is publicly available. This is just the first step in widening public and private sector understanding of remittance markets across the world. This unique platform is designed to spearhead progress across the industry to improve the quality, breadth and depth of publicly available data.<\/p>\n

RemitSCOPE is currently available in Africa, with Latin America and the Caribbean coming soon, followed by Central Asia. This approach assures standardization and harmonization across countries and continents and is the first global one-stop-shop for remittance and remittance-related data.<\/p>\n

As more data becomes available on remittances and relating to remittances, and as industry demands it, RemitSCOPE will respond with the addition of new dashboards and tools for analysis.<\/p>\n

Central Bank Accreditation & Call to Action from Central Banks<\/strong><\/h2>\n

RemitSCOPE forms part of a larger agenda to improve the quality, availability and disaggregation of remittances data globally to inform government policies, achieve financial stability, support AML-CFT, promote competition and inform new product development.<\/p>\n

RemitSCOPE asks Central Banks to review and accredit the information available on their Country Profile annually. Central Banks play an important role in providing financial market data and in providing clear understanding of the operating environment for financial service providers. For the longer-term sustainability of RemitSCOPE, it is necessary for Central Banks to provide data on their respective jurisdictions.<\/p>\n

If data on the Country Profile has been reviewed and approved by a Central Bank, then please look for the\u00a0 Central Bank Accreditation toggle at the top of the Country Profile.<\/p>\n

RemitSCOPE aims to support Central Banks and other industry stakeholders to improve the quality, accuracy and timeliness of remittance data and other industry indicators. RemitSCOPE aims to standardize data across countries and continents by working with Central Banks to harmonize definitions and classifications. Standardization aims to go beyond remittance flow data methodology, and to challenge Central Banks to produce more disaggregated remittance data, as well as data on operating environments and remittance market structure. Remittance markets are heterogeneous with very different operating environments and market structures. The opacity of remittance markets makes and the regulatory environments they exist within is a barrier to market entry. Standardization of data will bring transparency and allow data to be compared across countries and continents. IFAD and the FFR are committed to promoting and advocating for good practice in terms of market intelligence.<\/p>\n

\u00a0<\/strong><\/p>\n

Sustainable Development Goals and Global Compact on Migration<\/strong><\/h2>\n

The\u00a02030 Agenda for Sustainable Development<\/a>, adopted in September 2015, is a global commitment to eradicate poverty and achieve sustainable development by 2030, ensuring that no one is left behind. Its 17 specific Sustainable Development Goals (SDGs) address the major challenges facing the world today.<\/p>\n

Remittances can contribute to reaching the Sustainable Development Goals (SDGs) in a variety of ways:<\/p>\n