The G20 has rightly made enhancing cross-border payments a priority during the Saudi Arabian Presidency. Faster, cheaper, more transparent, and more inclusive cross-border payment services, including remittances, would have widespread benefits for citizens and economies worldwide, supporting economic growth, international trade, global development and financial inclusion.
I am therefore very pleased to present to you this report from the Committee on Payments and Market Infrastructures (CPMI), setting out building blocks for a roadmap to enhance crossborder payments. The FSB welcomes this report, which forms Stage 2 of a three-stage project to develop the roadmap, and which comprehensively and clearly sets out the necessary elements of a response to address the challenges (high costs, low speed, limited access and insufficient transparency) that were identified in the FSB’s Stage 1 report delivered to you in April. The FSB’s membership has expressed its strong support for the appro
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