Global Remittances Are On The Rise
Global remittances are expected to rise from $468 billion in 2010 to $667 billion in 2019 along with new investment channels bringing in an extra $73 billion a year in Commonwealth countries.
Crowdfunding platforms have the potential to make a significant difference for SMEs in developing countries, however rules and regulations around crowdfunding in these countries are non-existent, according to the article.
Countries such as Thailand, Malaysia, Singapore and Indonesia have come to understand the importance of rules and have passed regulations on equity crowdfunding and peer-to-peer lending.
According to the article, the British government approved a grant of £230,000 to the African Crowdfunding Association to help it craft model accreditation and investor-protection rules.