For the third consecutive year the London based International Association of Money Transfer Networks is bringing together international organisations, national banks and other regulators as well as banks and exchanges, mobile and card payment operators, traditional money transfer companies and businesses servicing the industry, to Money Transfers Dubai conference. MTD 2010 will take place at the spectacular Jumeirah Emirates Towers on the 22nd of March.

 

"The Arab region is a major market for remittances worldwide, on both the sending and the receiving side. The UAE in particular have one of the largest migrant workforces in the world. Workers’ remittances also generate substantial financial resources for non-oil economies, without which domestic liquidity and the national financial systems would be under severe constraints”, admits  Mr. Massimo Cirasino, Head of the Payment System Development Group, WORLD BANK and one of the key speakers at this year’s event, “As a well-established discussion forum on regulatory issues and business developments in money transfers, MTD 2010 represents a unique opportunity to focus on the fast-changing MENA region".

 

According to Mr. Leon Isaacs, managing director of IAMTN and money transfers industry’s expert, the Gulf has done incredibly well in 2009 despite all the gloomy projections, particularly in terms of remittances. The performance has been extremely encouraging and it is anticipated that there will be a lot of employment and a big need for overseas workers in the Gulf region in 2010 and the coming years.

 

“Some of the issues to watch include - how effectively the regulations that came into force two years ago around all employees to be paid either on a card or into an account, get implemented and what influence on the money transfer industry it’s going to make. Another issue for the region is the use of technology and the inflow of overseas banks into it. But the biggest thing is – helping businesses to make money in an environment where it’s very competitive already and more competition is going almost commoditize the business. All this and much more will be covered during MTD 2010”, adds Mr. Isaacs.

 

Registration for MTD 2010 is available online at www.mtd2010.iamtn.org

 

 

IAMTN is the only international trade association, representing Money Transfer industry across the globe. The members of IAMTN provide the full range of money transfer (remittance) services to private individuals and small businesses in over 90 countries and territories. As a trade organization, International Association of the Money Transfer Networks provides its members with access to the potential business partners internationally, research data on money transfers and associated industries.