As a former student in Development Studies, I keep a keen interest in issues relating to International Development.

BRAC UK

I am a board member of BRAC UK, the UK wing of an international development organisation.  The main mission of BRAC (Building Resources Accross Communities) is the the alleviation of poverty and empowerment of the poor in the UK, Africa, Asia and Latin America. BRAC UKs goal is to uphold people's human rights and dignity. We are trying to achieve this through increased education, upholding human rights, improving health and economic development.

Remittances

Over the past few years, I have been working hard to create a greater awareness and recognition of the contribution that migrants from developing countries living in London make to the economies of their home countries by sending money home.

Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. Latest World Bank estimates are that some $250 billion was remitted globally in 2006 and these figures are increasing by almost 30% year on year. Remittances contribute to economic growth and to the livelihoods of needy people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion.

In 2004 the G8 met at the Sea Island Summit and decided to take action to lower the costs of sending money back to friends and families in the country of origin. In light of this, the Department for International Development (DFID) began to look into ways in which the cost of remitting money fromt he UK could be lowered. One of DFID's responses was to develop a programme called 'Sending Money Home?'

Collapse of Money Transfer Company First Solution

Earlier this year, Money transfer company First Solution collapsed. The company ows up to £3m to 2,000 people in the Bangladeshi community of east London and is currently under investigation by the police for possible fraudulent activity.

I wrote to the Minister and Consumer Affairs, Stephen Timms, asking if the Government will be taking the appropriate measures to ensure people using money-transfer businesses are better protected in the future.