We’re pleased to share with you our August 2019 Newsletter.

The first article looks at the challenges related to identification. Roughly 1 billion people worldwide lack official documents that prove their name and date of birth, and 33 million of them reside in Latin America and the Caribbean. Lack of IDs can make it harder for people to access basic financial services, including remittances, and as such, constitutes an important development challenge.

Our second article presents a featured Q&A from the Financial Services Advisor regarding financial inclusion in Colombia. Inclusion in Colombia’s financial system reached 81 percent at the end of last year, according to a recent government report. Despite a growing number of Colombians who have at least one deposit account or current loan, more than six million Colombian adults remain outside the formal financial system.

Finally, we are including several news stories of interest relating to remittances and the remittance industry.

As always, we look forward to your feedback and comments.
Best regards,
Manuel, Laura and Julia