Global Forum on Remittances, Investment

and Development Asia-Pacific 2018

8-10 May 2018 Kuala Lumpur, Malaysia

www.RemittancesGateway.org/gfrid/gfrid-2018 info@GFRID2018.org | registrations@GFRID2018.org

In collaboration with

The road to the

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On 8-10 May 2018, Bank Negara Malaysia (the Central Bank of Malaysia), in collaboration with the International Fund for Agricultural Development (IFAD) and the World Bank Group, will host the first country-led regional Global Forum on Remittances, Investment and Development (GFRID), focused on the remittance and investment landscape in Asia-Pacific.

One billion people – over 200 million migrant workers supporting an estimated 800 million family members – are directly impacted by remittances. These flows are crucial for migrant families, allowing them to secure food, education, health, but also income-generating activities, particularly in rural areas where they count the most. In 2016 alone, migrant workers sent over US$429 billion in remittances to their families in developing countries. To harness the power of this money for development, the international community needs to acknowledge the crucial role played by migrant workers and find ways to support them.

The Forum comes at a very timely moment as it will actively contribute to the current preparatory processes leading up to the adoption of a Global Compact for Safe, Orderly and Regular Migration in 2018.

The last GFRID, held in New York in June 2017, confirmed its relevance not only to the Global Compact process, but also showcased the crucial role of remittances and migrant investments to the guidance and achievement of the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), as well as the Addis Ababa Action Agenda.

To further support these global endeavours, this country-led regional GFRID will see the participation of major representatives from public and private sectors, as well as the civil society, involved in remittances and investments in Asia-Pacific. The Forum will explore innovative ways to contribute to such global processes, while highlighting regional specificities, opportunities and challenges.

The Global Compact process is one of the key outcomes of the New York Declaration for Refugees and Migrants, adopted in September 2016 by the United Nations General Assembly. In this Declaration, all Member States of the United Nations recognized the need for a comprehensive approach to human mobility and enhanced cooperation at the global level. The Global Compact is being developed through an open, transparent and inclusive process of consultations and negotiations calling for the participation of all relevant stakeholders – including the civil society, the private sector, academic institutions, governments, diaspora communities, and migrant organizations.

The global context

Privatesector

Publicsector

Civil society and development

organizations

Academic institutions Community groups

Cooperatives Development agencies

Diaspora organizations International organizations

Non-governmental organizations

Global Forum on Remittances, Investment andDevelopment

2018

Central banks and �nancial regulators

Chambers of Commerce

Ministries of Foreign Affairs

Ministries of Migration and Labour

Permanent Missions to the UN

Postal networks

Think tanks

Commercial banks

FinTechs

Micro�nance institutions

Mobile phone companies

Money transfer operators

Private foundations

Private postal operators

Rural banks

The Forum’s participants and stakeholders

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The GFRID 2018Since its inception over ten years ago, the Global Forum on Remittances, Investment and Development (GFRID) has served as a platform to raise awareness, facilitate dialogue and promote collaboration on the contribution of migrant remittances to development. By bringing together Member States, international organizations, private sector and civil society, the Forum allows stakeholders to showcase good practices and build partnerships to leverage the role of remittances in countries and communities of origin towards achieving the Sustainable Development Goals (SDGs).

The GFRID 2018 Asia-Pacific will build on recommendations made during the GFRID 2017 in New York, and will highlight the latest findings and linkages between remittances and development in Asia-Pacific, particularly in the context of the 2030 Agenda for Sustainable Development, the SDGs and the process towards the adoption of the Global Compact for Migration.

Bank Negara Malaysia will host the GFRID 2018, in collaboration with IFAD and the World Bank Group.

Organizing partners include:• AFI – Alliance for Financial Inclusion

• GSMA Mobile for Development

• IAMTN – International Association of Money Transfer Networks

• IMTC – International Money Transfer Conferences

• MAMSB – Malaysia Association of Money Service Business

• WSBI – World Savings and Retail Banking Institute

Main objectivesThe GFRID 2018 intends to:• scale-up the debate initiated during the Global

Forum on Remittances, held in Bangkok in 2013, of exploring the recent developments and discuss the latest challenges, opportunities and concrete innovations from the previous Forum, in light of the Global Compact for Migration;

• update the stakeholders on findings and realities from recent initiatives in the region;

• further engage the public sector and regulators in creating an enabling environment to boost the development impact of remittances, and bridging the private and public sectors as well as the civil society;

• create a collaborative platform on remittances to provide solutions to existing challenges and share Malaysia’s experiences particularly in terms of regulation and supervision of the remittance industry; and

• identify adapted and scalable models of intervention and partners to implement future operations, particularly in the fields of (i) rural finance and financial inclusion, and (ii) financing agriculture through diaspora investment.

Specific objectivesThe Forum aims to:• highlight the contribution of migrant remittances and

diaspora investment in Asia-Pacific to achieve the SDGs and their targets;

• share good practices to leverage remittances for development in the Asia-Pacific marketplace, including through public-private partnerships;

• identify measures to reduce the cost of remittances, through market competition, innovative business models and the use of modern technologies;

• assess regulatory barriers and other constraints to lower remittance costs, promote diaspora investment and facilitate financial inclusion;

• explore innovative financing solutions to unlock migrant investments;

• highlight sustainable and innovative business models that expand current remittance markets and create synergies with other financial markets and products;

• promote national development strategies that allow for scaling up successful business models and strategies involving migrant and diaspora contributions; and

• provide concrete, actionable recommendations to leverage the potential of diaspora investment and migrant remittances towards the adoption of a Global Compact for Migration in 2018.

OutcomesThe GFRID 2018 Asia-Pacific would prompt the creation of a multi-stakeholder platform on remittances, investment and development, to build regional ownership, and to provide continuity to the previous achievements, with the ultimate goal of feeding the dialogue on remittances, investment and development from a regional perspective and upscale the past successful initiatives.

Broadly, the GFRID 2018 Asia-Pacific will have a future legacy and meaningful follow-up actions culminated and documented in a list of Forum recommendations for ease of reference. The Forum will be replicated in other regions, whereby a GFRID with a regional focus will be organized every two years with the support of a local host.

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Provisional agenda

Private Sector Day – 8 May | Sasana Kijang, Kuala Lumpur

Day 1 will focus on the role of the private sector in contributing, through remittances and investment, to achieve the SDGs, in particular on opportunities and challenges that need to be overcome for its sustainable growth.

The opportunities, particularly in Asia-Pacific, are the sheer size of the remittance market, its leverage for financial inclusion, the application of new technologies and the focus and commitment of the public sector. However, there are many challenges to be overcome, including: derisking, and how to remain profitable.

Using a mixture of information sessions, panel discussions and case studies, Day 1 will cover key issues faced by the private sector, to provide an opportunity to describe its future vision and present reality. In particular, it will establish a strong basis for discussion with other stakeholders. This Day’s outcomes will set the scene for the following days.

The Private Sector Day will culminate with the RemTECH Awards 2018 Asia-Pacific which will recognize some of the key innovations that are contributing to the advancement of remittances in Asia-Pacific. A Remittances Marketplace will follow thereafter.

Public Sector Day – 9 May | Sasana Kijang, Kuala Lumpur

The introduction of SDG 10.c in 2015 has brought a renewed focus on how to leverage remittances for development. The Public Sector Day will build on the learnings from Day 1 and incorporate them into some of the vital initiatives that are currently taking place. Whilst a remittance, at its simplest, is a person-to-person money transfer, the development agenda recognizes that it presents opportunities to deliver so much more, especially through the potential contribution to financial inclusion and diaspora investment.

Using a variety of parallel and plenary sessions, the Public Sector Day will examine how to harness remittances for financial inclusion and how to achieve meaningful diaspora investment. It will also look at how to create successful public-private-partnerships and provide an update on the Global Compact for Migration. Day 2 will conclude by bringing together the themes of the first two days and outlining the Asia-Pacific action agenda for the following two years.

Side Events Day – 10 May | Sasana Kijang, Kuala Lumpur

Following two full days of plenary and panel sessions, Day 3 will enable participants to explore key themes in significantly greater detail.

The morning will feature four parallel sessions examining key topics and sub-regions that have arisen in workshops. In the afternoon, the organizers, partners and other selected entities will be hosting a series of meetings and side events with agencies and government representatives. These sessions will be by invitation only. Participants will be able to share their expertise in their own areas, learn about an area that is new to them and provide examples of successes in other regions which have similar circumstances to the areas of focus.

Overall Day 3 will provide the opportunity for all delegates to begin to put into practice their learnings from the first two days and to gain in-depth insights into a theme and region that is important and relevant to them.

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The Forum formatRemitSCOPE Asia-Pacific report – 2018The report will provide an update of the trends on sending and receiving remittances in Asia-Pacific, and their impact and contribution towards the achievement of the SDGs. The report will be key to support the Forum recommendations, particularly in light of its regional contribution towards the Global Compact for Migration process.

The International Money Transfer

& Payment Conferences, IMTC

www.imtconferences.com www.remtech.org

The RemTECH Awards

Bringing Remittances Innovation ForwardThe Remittances Innovation Awards (RemTECH Awards) Asia-Pacific will showcase the most innovative and outstanding ideas, services and products, designed to improve remittance services worldwide.

The awardees will be companies, groups, or individuals coming up with ground-breaking solutions that benefit the market ecosystem, improve transparency, speed, cost and reliability for companies and remittance senders and receivers.

The winners will be announced during the RemTECH Awards Asia-Pacific presentation on 8 May.

The RemTECH Awards were developed and are managed by

Plenaries are aimed at presenting the topic and sharing best practices and lessons learned.

Parallel discussions will provide opportunities for participants to share their expertise and experiences, create synergies and strengthen partnerships.

Networking over coffee will start with thematic presentations, followed by an audience discussion to allow interaction among participants.

Marketplace cocktailOn 8 May selected private sector entities, both global and from Asia-Pacific, will showcase their latest products and innovations in a networking cocktail, open to all Forum participants.

ParticipationThe GFRID 2018 will be open to representatives of Member States (financial regulators, central bank representatives, development experts, delegates from permanent missions, etc.), the United Nations system (international financial institutions, funds, specialized agencies and programmes, related organizations, etc.), the private sector (commercial banks, money transfer organizations, mobile operators, microfinance practitioners, etc.), civil society, academic institutions and think tanks, migrant communities, diasporas and media. Around 400 participants are expected to join, both from the region and globally.

All photos taken at the GFRD2017

The road to the International Day of Family Remittances

www.un.org/en/events/family-remittances-day/

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The Global Forums on Remittances, Investment and Development (GFRID) are a series of international forums aimed at bringing together stakeholders from around the world involved in the field of remittances, migration and development, to stimulate the creation of partnerships and long-lasting synergies among public and private sectors, and the civil society.

Since 2007, the Global Forums have been organized by the International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations and an international financing institution (IFI), in collaboration with key partners, such as the Inter-American Development Bank, the African Development Bank, the World Bank Group, the European Commission and the United Nations Department for Economic and Social Affairs (UN-DESA).

The GFRID has become, over the last decade, a unique platform in which to discuss global remittance-related issues and share solutions to maximize the development impact of these flows. The last two forums – Milan 2015 and New York 2017 – both saw the participation of over 400 representatives from the public and private sectors, and civil society, and contributed to the global discussion on remittances, migration and development by raising further interest from different perspectives.

Bank Negara Malaysia, in collaboration with IFAD and the World Bank Group, will host the first in a series of regional forums aimed at exploring opportunities and challenges in Asia-Pacific, in line with global policies and priorities. The GFRID Asia-Pacific will take place in Kuala Lumpur on 8-10 May 2018.

The Global Forums

2017Global Forum on Remittances, Investment and Development | Global Global coverage focused on the role of remittances in achieving the SDGs, and opportunities in the global marketplace. Held in New York and organized together with the World Bank Group and the UN Department of

Economic and Social Affairs (UN-DESA).

2018Global Forum on Remittances, Investment and Development | Asia-Pacific Focused on Asia-Pacific, to be held in Kuala Lumpur, and organized by Bank Negara Malaysia, together with IFAD and the World Bank Group.

2015Global Forum on Remittances and Development | Europe Focused on European and global markets, and development impact, organized by IFAD, the European Commission and the World Bank Group, held in Milan in conjunction with the Universal Exposition

EXPO Milano 2015.

2005International Forum on Remittances | Americas Focused on Latin America and the Caribbean, held in Washington D.C. and organized by the IDB, after which the organization passed on to IFAD.

2013Global Forum on Remittances | Asia Focused on Asia, held in Bangkok, and organized together with the World Bank Group.

2007International Forum on Remittances | Global Global coverage, held in Washington D.C. and organized together with the IDB.

2009Global Forum on Remittances | Africa Focused on Africa, held in Tunis, in collaboration with the AfDB.

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Useful informationThe venueThe GFRID 2018 will take place in Kuala Lumpur (Malaysia) at Sasana Kijang, a centre of knowledge and learning excellence established by Bank Negara Malaysia in 2011.

The centre represents the Bank’s continuous drive for talent development through effective learning initiatives, as well as creating a conducive environment to promote best practices in central banking.

Sasana Kijang also hosts the Bank’s regional and international strategic partners, namely the South East Asian Central Banks Research and Training Centre, Islamic Financial Services Board, and Alliance for Financial Inclusion. The World Bank Group commenced operations at Sasana Kijang in March 2016, and the Asia School of Business is temporarily located here pending the completion of its campus development.

The centre’s modern facilities provide an opportunity for learning, research and engaging in discourse with full conference facilities, including a main auditorium, and meeting and conference rooms.

For further informationSasana Kijang – 2, Jalan Dato’ Onn50480 Kuala Lumpur, MalaysiaTel: 03-9179 2888 | E-mail: sasana@bnm.gov.my

Getting to Sasana KijangBy Rail: KTM Komuter: 10 minute walk from the Bank Negara Komuter station (KA03) RapidKL LRT: 15 minute walk from the Bandaraya station (ST6 – Ampang Line)  

By Car: Ample parking on LG4 and LG5, with a special area allocated for buses in the open parking area. A flat rate parking fee of RM5.00 per entry.

Metered taxi, Uber and Grab are widely available in Kuala Lumpur.

RegistrationParticipation in the GFRID 2018 is free of charge, and by invitation only. Priority will be given to previous Forum attendees and selected stakeholders from the public and private sectors, and the civil society, in agreement with the organizers.

Invitations to register, both for former and potential participants, will officially open on 22 January 2018.

For new interested participants, the registration form will be reviewed by the GFRID 2018 Organizers, and will follow an approval process. Once confirmation is granted, accepted participants can book flight and accommodation accordingly.

Please note that no sponsorship is available for any participant to cover his/her travel and accommodation.

Due to security reasons to access the Sasana Kijang, registration on the spot will not be allowed.

VisaFor all visa requirements, please visit: https://goo.gl/K5dnZA

Kindly note that the Forum organizers are not responsible for visa issuance.

AccommodationThe Forum organizers strongly recommend to secure your accommodation as soon as possible. A number of options will be provided on the GFRID 2018 webpage from January onwards.

All participants are responsible for arranging their own accommodation.

For detailed information on tourism in Malaysia, please visit: https://visitmalaysiavmy.wixsite.com/visitmalaysia

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The organizers

Bank Negara MalaysiaBank Negara Malaysia is a statutory body which started operations on 26 January 1959. Governed by the Central Bank of Malaysia Act 2009, its principal role is to promote monetary and financial stability conducive to the sustainable growth of the Malaysian economy. The Bank also plays a significant developmental role, including the development of financial system infrastructure and the active promotion of financial inclusion. As the banker and adviser to the Government, the Bank provides advice on macroeconomic policies and the management of public debt. Its other roles include being the sole authority in issuing the national currency and in managing the country’s international reserves.www.bnm.gov.my

International Fund for Agricultural Development IFAD, a specialized agency of the United Nations, was established as an international financial institution in 1977 as one of the major outcomes of the 1974 World Food Conference. IFAD’s mandate is to invest in rural people to eradicate poverty in developing countries. Working with poor rural people, governments, donors, non-governmental organizations and many other partners, IFAD focuses on country-specific solutions, which can involve increasing poor rural people’s access to financial services, markets, technology, land and other natural resources. www.ifad.org

The World Bank GroupThe World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.In March 2016, the World Bank Group launched its Global Knowledge and Research Hub in Malaysia. The Hub is the first of its kind, serving both as a field presence in Malaysia and as a global knowledge and research hub. It focuses on sharing Malaysia’s people-centered development expertise and creating new innovative policy research on local, regional and global issues.www.worldbank.org | www.wbg.org/malaysia

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IMTC is a forum of the money transfer industry, a forum of people involved in providing cross-border financial services, such as money transfer operators, banks and mobile money operators involved in financial services, and a large array of institutions, brick-and-mortar or digital first, for-profit and non-profit, that provide services along migration corridors, to people or companies, personal or commercial, formal or informal. http://imtconferences.com

Malaysia Association of Money Service Business is the national association for licensees under the Money Services Business Act 2011 (MSBA) as well as those enterprises that have been approved as money services business agents to principal licensees under the MSBA. MAMSB is dedicated to advancing the money services business industry in Malaysia. Its ultimate aim is to ensure alignment with the national agenda to promote modernisation and professionalism of the money services business industry while representing the interest of members.www.mamsb.org.my

The Microfinance Gateway is a global resource on financial inclusion. Since 2000, CGAP’s Microfinance Gateway has been a valuable resource for individuals and organizations working to advance financial inclusion for the world’s poor. The Gateway welcomes more than 1 million annual visitors from over 200 countries, who recognize the Gateway as the web’s leading resource for knowledge and career development opportunities in microfinance and financial inclusion.www.microfinancegateway.org

World Savings Banks Institute brings together savings and retail banks from 80 countries, representing the interests of approximately 6,000 banks in all continents. As a global organisation, WSBI focuses on issues of global importance affecting the banking industry. It supports the aims of the G20 in achieving sustainable, inclusive and balanced growth and job creation around the world, whether in industrialised or less developed countries.www.wsbi-esbg.org

The partners

The Alliance for Financial Inclusion is a network of financial inclusion policymakers. AFI’s core mission is to encourage the adoption of inclusive financial policies in developing nations, to lift 2.5 billion citizens out of poverty. AFI was founded in 2008 as a Bill & Melinda Gates Foundation-funded project, supported by AusAid, in order to advance the development of smart financial inclusion policy in developing and emerging countries. AFI’s network has more than 100 institutions from more than 89 member nations.www.afi.com

The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences.www.gsma.com

The International Association of Money Transfer Networks is the only global international trade organisation that represents money transfer industry/payment institutions providing cross-border payments. Founded in 2005, IAMTN provides a platform for industry partners to come together to discuss common challenges and industry initiatives, and create opportunities. IAMTN works closely with governments, regulators, regional associations and all other stakeholders to champion the creation of the most effective, safe, reliable and efficient payment systems.www.iamtn.org

International Fund for Agricultural Development

Financing Facility for RemittancesVia Paolo di Dono, 44 - 00142 Rome, ItalyTel: +39 06 5459 2012 - Fax: +39 06 5043 463E-mail: remittances@ifad.orgwww.ifad.org/remittanceswww.RemittancesGateway.org

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Partners of IFAD’s Financing Facility for Remittances:

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17For more information, contact us at info@GFRID2018.org registrations@GFRID2018.org

phone Kuala Lumpur: +603.2691.6545Rome +39.06.5459.5066

and follow us at www.RemittancesGateway.org/gfrid/gfrid-2018

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