Between £20-£50 million is being lost by UK charities in the process of sending funds overseas to carry out their humanitarian and development work.
| Missing Millions - Transforming a culture of passively transferring funds abroad to a practice of actively purchasing local currency at the most competitive price |
These millions do not make it to their intended destinations because of the uncompetitive rates and misleading transfer fees offered by banks when selling local currency.
A new report from Stamp Out Poverty entitled 'Missing Millions' sets out how this happens and offers some key recommendations on how we can ensure less money disappears into bank profits and more money reaches its intended destination: life-saving work in developing countries.
Please see the executive summary and the full report below.
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Missing Millions Report
Download this file: MissingMillions_181109.pdf
File Format: PDF
Author: A paper for Stamp Out Poverty by Nana Yaa Boakye-Adjei
Date added: 18 November 2009
Executive Summary: Missing Millions
Download this file: SoP_missing_ExecSummNEWD6.pdf
File Format: PDF
Author: A paper for Stamp Out Poverty by Nana Yaa Boakye-Adjei
Date added: 13 November 2009
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