Sentence examples for remittance accounts from inspiring English sources

In the US, the Sunrise Community Banks based in Minnesota closed all Somali-American remittance accounts in 2011, following two high-profile prosecutions of Somali-Americans in the city.

That support is now threatened by banks closing their remittance accounts in great numbers for fear of prosecution.The importance of remittances to Somalia cannot be overstated, and banks and money-transfer operators must work with the agencies to ensure that regulations do not shut down this vital lifeline.

John Byrne, former head of compliance at the American Bankers Association, recently told congressional committees that regulatory requirements for dealing even with legit money-transfer services had become so burdensome for banks that they were filing suspicious-activity reports at every turn and shutting down remittance accounts.

For instance, Wells Fargo offers a remittance account in the United States that allows an immigrant's family to draw money from a matching account offered by Bancomer in Mexico.

In 2014, trade accounted for about 45% of Bangladesh's GDP (about 55% for other low-middle-income countries) while remittance accounted for 8.7% of the GDP (only 1.5% for other low-middle-income countries).

Remittances account for 50% of Somalia's gross national income.

Remittances account for at least one-fifth of Haiti's economy.

By the late 1990s, remittances accounted for much of the national income.

Remittances account for an estimated third of the gross national product.

In 2010 remittances accounted for 12.9% of the country's GDP.

In 38 countries, remittances accounted for more than 10percentt of the gross domestic product.