Part of our evaluation therefore involves subjecting applicants to a through scrutiny of their AML Compliances programmes not only in Kenya, but also in the sending jurisdictions. In this regard Record keeping and “KYC” requirements must be adhered to as part of the approval conditionality.
Ladies and Gentlemen, the subject of migrant worker remittances and their socio economic significance both for the sending and receiving countries has become a popular topic for governments, payment systems experts and other public policy makers. International remittances bring with them substantial welfare gains to the receiving countries and have huge developmental potential.