Dilip Ratha is a scholar of international migration and its relationship with global development. He is known for his role in adding remittances to discussions of migration and development, starting around 2003.[1][2] (wikipedia)
The fears over money laundering and terrorist financing are an over-reaction to an otherwise smaller problem affecting the lives of very poor people. These regulations governing remittances can be avoided.
Huge remittances could cause huge appreciation to the currencies. We need to ask ourselves, how do we measure the remittances, what effects do they have on social programs.
The over-regulation of banking sector can be avoided because they affect the entry into the market of poor migrant workers. The remittances give a lifeline to people in poor countries.
