This Gulf News article talks about the global revolution in remittances, which is being facilitated by mobile phones. Remittance is a $350 billion annual business worldwide, of which approximately $60-$65 billion flows across the Middle East and North Africa. Remittances from the Middle East to Pakistan, Bangladesh and the Philippines play an important role in the economy of the Asia and Pacific Region.
With ever-increasing penetration of mobile phones and smart phones, and the development of phone apps specifically tailored for remittances, this revolution in mobile - mobile, cross border money transfers is set to change the lives of millions of people across the world.
This paper also discusses the potential of mobile remittances in Asia.