Expert contributions
Autor: Radmila Gaćeša
Summary: Remittances bear a huge importance for the economies of some countries, in particular, developing countries, given that they facilitate economic growth and improve the citizens’ standard of living. Recipients of remittances promote mass usage of bank accounts and other kinds of bank services. At the same time, remittances, as a rule, serve as an introduction into some new bank arrangements, such as start-up loans, mortgages and other types of loans, which is why they stand as a great incentive for banks to yield higher profits.