Migrants
Quote of the month
“Personal remittance flows are in some countries as large as the deposit base of the banking system”
Sibel Beadle, Principal Banker at European Bank for Reconstruction and Development, United Kingdom
Overall issues
- Developing relationships
It can be difficult for financial institutions to build successful relationships with the migrants in their country. The first step involves gaining a clear understanding of their needs and of the most appropriate solutions. - Developing partnerships
One way forward is to explore the best ways of building efficient partnerships between banks and insurance companies in the host country and in the countries of origin. - Developing solutions
Banks need to consider whether they should be building networks specifically for migrants, or integrating migrants with other customers. Also, should specific products and services be created for this sector? The answers may vary from country to country.
Lessons from the most recent conference
"The migrants market – Addressing the needs of different cultures", Paris, 10-11 February 2009 (www.efma.com/migrants2009)
Best speaker:
Philip Laucks, Managing Director, Head of Business Development & Performance Management at Deutsche Bank, Germany
Best presentations:
- “Migrant banking in a highly competitive environment: how to make a difference?”
Anna Polańska, Managing Director, Head of International Banking - PKO Bank Polski, Poland
- "Banking for Moroccans without border"
Mouawia Essekelli, Administrateur Directeur Général - Attijariwafa Bank, Morocco
- "Migrants as a "vehicle" for the internationalisation of local economic actors"
Carlo Barbieri, Direzione Relazioni Internazionali - ICCREA Holding, Italy
