Innovative Mechanisms of Attracting Migrants’ Remittances to the Official Financial Sector

Abstract

The article is devoted to studying innovative mechanisms in the financial sphere, promoting attraction of migrants' remittances to the official financial sector. It is shown that structural transformations of the banking system, perfection of remittance technologies, development of microfinancial organizations and their cooperation with banks and payment systems, improvement of migrants' access to official financial channels, realization of special government programs are capable to change significantly the existing situation in the sphere of migrants' remittances.