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The Canada-Caribbean Remittance Corridor
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Box 11: The Creation of Migration and Remittances “Working Groups” An efficient migration and remittance transfer process requires coordinated and well-balanced efforts among all relevant agencies, so that knowledge can be easily accessed and shared. A good understanding of migration and remittances is also important to develop well-designed regulatory framework which meets international standards and recommendations, but also reflects local conditions. Hence, the study team proposes the creation of a “working group” or a committee comprising of relevant agencies in each respective country. This working group could meet on a regular basis each year to discuss policy issues, challenges in implementing each respective agency’s mandate and work programs, and to share up-to-date ideas and information with other institutions in the working group. The organizations participating in Haiti’s working group could include: 1. 2. 3. 4. 5. 6. 7.
Ministry of Economics and Finances (MEF) Banque de la République d’Haïti (BRH) Unite Centrale de Renseignements Financiers (UCREF) Ministry of Haitians Abroad Institut Haitien de Statistique et d’Informatique (IHSI) Administration Generale des Douanes (AGD) Haitian National Police (HNP)
The organizations participating in Jamaica’s working group could include: 1. 2. 3. 4. 5. 6. 7. 8.
Ministry of Finance and Planning Bank of Jamaica Financial Investigations Division (Financial Intelligence Unit) Jamaica Customs Statistical Institute of Jamaica (STATIN) Planning Institute of Jamaica Ministry of Foreign Affairs and Foreign Trade (Jamaicans Overseas Department) HEART/National Training Agency
The organizations participating in Canada’s working group could include: 1. 2. 3. 4. 5. 6. 7. 8.
Department of Finance Canada Citizenship and Immigration Canada Human Resources and Social Development Canada FINTRAC Royal Canadian Mounted Police Canadian Border Services Agency (CBSA) Statistics Canada Canadian International Development Agency (CIDA)
In addition to the government agencies, the working group may include representatives of other stakeholders such as representatives of the remittance service providers (both remittance companies and banks) and representatives of the research institutes. Source: Author’s fieldwork and research.
In order for these policy recommendations to be most effective, the study team advocates a cooperative and well-coordinated effort among authorities in all three countries to enhance the efficiency, safety and soundness of the remittance transfer process (see Box 11). A cooperative approach can be also extended across borders to address the issue of common interests. For example, a well-coordinated approach would prevent any scope of regulatory arbitrage between countries.