Dubai, 21 March 2010

Money Transfers Dubai 2010 is a well-established discussion forum, set to discuss business developments, regulation and other areas of interest on international money transfers.

This year's event on the 22nd March will particularly focus on implementation of recent international and national regulation initiatives influencing remittances.

'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. During the MTD 2010 Mr. Cirasino will lead the discussion about the G8's so called ‘Five in Five' initiative, which implies the plan to reduce the cost of remittances by a half during the next 5 years.

Focusing on the Gulf, the conference will discuss the UAE Wages Protection System. This initiative, created to protect both – businesses as well as employees, will be presented by Mr. Mohsin Ali Saeed Al-Nasi, Director of Inspection Department in Abu Dhabi & Director of WPS Office and by officials of the UAE Central Bank.

Pakistan Remittance Initiative is another recent development on a national level in order to provide facilitating and supporting faster, cheaper, convenient and efficient flow of remittances. The Pakistani experience will be presented by Mr. Nadeem Bhurgri, Remittance Marketing Head at PRI.

As every year, MTD 2010 will bring together everyone involved in money transfers - government officials and regulators as well as private businesses, such as banks, exchanges, postal banks, representatives of mobile and card payment industries as well as other traditional money transfer operators.

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