remittance

Many Gazans try and send money back to support relatives still in Gaza – but remittance fees are steep and war merchants take a 30% cut.

The average fee for a $200 remittance payment across the world was 6.18% in the third quarter of last year, the organization said.

In some countries, "the regulations governing who can act as a remittance provider can be quite stifling," says Ravenna Sohst, a policy analyst at the Migration Policy Institute Europe.

One target of the UN Sustainable Development Goals is that by 2030, remittance fees should be less than 3%, and total fees to send and receive money between a pair of countries should be no more than 5%.

Ms Sohst says that Mexico-US is an example of a major remittance corridor, where more competition has helped reduce prices.