Best Practices Guide for Microfinance Institutions Active in Remittances

prepared by the e-MFP Remittances Action Group, June 2014.

Currently, many MFIs have become pay-out agents for remittances (or money transfers), either in direct relation with a Money Transfer Organisation (MTO) or as a sub-agent via a local bank. However, only a small number of MFIs are well-advanced in remittance products that are linked to loans and savings. This Guide is based on practical experiences and lessons learned by 8 MFIs in Latin America, West-Africa and Asia and illustrated with concrete examples. Detailed descriptions of the products and approaches of the MFIs are also included. The Guide demonstrates –from a practical and hands-on perspective– how pioneering MFIs are leveraging on remittances.