Forecast – Slumping remittances will rebound from the Gulf to the developing world when oil markets stabilize and Gulf diversification plans pan out. – As part of their nationalization initiatives, Gulf States will edge out some highly skilled expatriates in favor of citizens. – Since the burden of taxation will fall on expatriates, Gulf States will have to rely on public relations to maintain migrant flows. Analysis The recent …

  Innovation & technology The financial services market is undergoing a lot of changes. Customers always have appetite for more and are well knowledgeable, looking for convenience and ease when it comes to financial services, particularly via internet and mobile phones making innovation and transformation two most powerful forces that are reshaping the banking industry. Customer expectations, technological capabilities, regulatory requirements, demographics and economics are some of the challenges that …

  Developing countries are exposed to globalization owing to the volatility of international markets. The increase in inflows and flight of capital can have significant effects on the economy. In many developing and emerging economies, remittances are financial flows that is as important as, and in some cases more important than, capital flows. It is often observed that remittances are more stable than capital flows to emerging and developing countries …

  How ‘big’ is Big Data? This question is often confronted with a flurry of statistics. One out of every 3 people on earth has access to mobile internet. One out of every 5 has an active Facebook account. By 2020, the amount of data generated by the world will be 44 times the data generated in 2009. Clearly, there is no debate about the volume of data we are …

  For over 6 million Pakistani smallholders with 10 acres of land or less, financing options are very limited and preventing them from building assets over time. Most cannot or will not go to banks because doing so would require using land as collateral, repaying loans in strict monthly installments and paying penalties if payments are late. Moreover, it can be hard to find a bank close to home and, …

  In recent years, the international community has begun to focus on financial inclusion as part of a broader strategy to reduce poverty, encourage economic development, and promote stability and security. The term ‘financial inclusion’ refers to the provision of accessible, usable, and affordable financial services, either through the formal or informal financial sector, to underserved populations. Financial inclusion also applies to ‘underbanked’ communities, where people lack reliable access to …

  Pakistan is a major contributor towards the growth and development of Islamic finance industry. After global financial meltdown in 2008, the ability of Islamic finance to introduce greater discipline into the financial system owing to its inherent strengths indicates this system is a viable option to avert financial crises. Islamic banking is a growing reality, which has transcended outside the traditional borders of Muslim countries into western economies. At …

  Islamic microfinance represents the confluence of two rapidly growing industries: microfinance and Islamic finance. It has the potential to not only respond to unmet demand but also to combine the Islamic social principle of caring for the less fortunate with microfinance’s power to provide financial access to the poor. Unlocking this potential could be the key to providing financial access to millions of Muslim poor who currently reject microfinance …

Diaspora and migration Remittances are the most tangible and least controversial link between migration and development. Diasporas of various nations are mutually beneficial to both the sending and the receiving countries. They send home the money to help their families and friends, financially. And they often acquire advanced education and technical, professional and managerial skills and contribute to solving problems in their host nations. Given the right political and policy …