Today, global remittance market has an important role in global economy. The exchange of currencies through remittances tells a lot about how a country can be affected by it. Remittance is a global phenomena and every country receive funds in form of remittances. In order to keep a stable flow of money and to regulate the actions related to remittances, rules are important. Due to the emerging remittance transferring services it has become necessary to regulate the activity of transferring money. The role of state and global institutions is necessary to establish a fair way of transferring money with fair exchange rates as well.
The business models and the realities of remittances are necessary to be examined in order to benefit people as well as states. The net of financial institutions and remittance transferring providers is interlinked. The linkages show the worth of policy goals to create fair mechanisms through which families could receive remittances. The innovative financial technology has brought new challenges to remittances. The outcomes of policy implemetation are inevitable and it can help enhance communication systems. Influential policy making can help people who receive remittances and it can also allows remittance transferring services to work properly.