1. PRESENTATION TO THE CARIBBEAN ASSOCIATION OF INDIGENOUS BANKS Georgetown Guyana November 12 – 15, 2007

2. CARVING OUT OUR SPACE IN THE GLOBAL REMITTANCE MARKET Presented by: Mr. Andrew Cocking, Deputy Group President International Business

3. HISTORICAL PERSPECTIVE Who sends remittances & why? Traditionally, migrant populations from less developed countries Major players Western Union Moneygram Delivery mechanisms Delivery of cash or cheques through agent locations in receiving countries Regulation Level of regulation non existent to low Use of technology Limited, but has been increasing with customer demand for service & competition

4. Agents of Change in the Remittance Environment Significant changes are taking place in the following areas: Regulatory Economic Technology/Social

5. REGIONAL INFLOWS – 2006 (US$ - Millions) Antigua9 Barbados140 Aruba12 Belize46 Dominica4 Dom. Rep.2717 Grenada22 Guyana201 N. Antilles8 Jamaica.1783 St. Lucia2 Haiti985 St. Vincent & Grenadines5 Suriname4 T&T87 Total Inflows6025

6. REGIONAL REMITTANCE OUTFLOWS – 2006 (US$ M) Dominican Republic26 Grenada2 Guyana55 Haiti59 Jamaica394 St. Kitts and Nevis2 St. Lucia1 St. Vincent and the Grenadines2 Suriname9 Aruba68 Bahamas, The144 Barbados40 Netherlands Antilles59 Total Outflows816

7. US Remittance Flows by State

8. IMPORTANCE OF REMITTANCE TO NATIONAL DEVELOPMENT What role do we wish to play? Remittances are the largest source of external financing for developing countries Remittances exceed foreign direct investments Remittances exceed official aid Remittances may be used as collateral in the micro finance sector In some instances remittances exceed 5% of GDP

9. Roadmap into Remittance services for Indigenous Banks Collaborative Effort! Develop our own remittance centres in the Diaspora Control the local distribution

10. One Caribbean Virtual Banking Platform “ Bank in a Box ”

11. Services available to Deploy  Send money to family globally  Person to person  Bank account to bank account  Mobile device to mobile device  Mobile Banking  Bank Account to Bank Account, Bank Account to Person, Bank Account to Card, Person to Bank Account, Person to Card, Card to Bank Account, Card to Card  Mobile Bill Pay, Mobile Remittances, Mobile Merchant Services  Pay your taxes and bills, or your family’s taxes and bills locally or from abroad  Make investments :  Local and Overseas NGO programs  Investments offered by banks and other FIs  Government issued bonds  Charitable Donations  Government and local business payroll  Purchase cell phone minutes for your family locally or from abroad

12. OPPORTUNITIES FOR BANKS Revenue from Remittance Fees Foreign Exchange Revenue Additional Revenue Stream from Mobile Banking Increase in Customer Base due to the increase in Service Offerings Opportunity to cross sell/up sell other financial products and services Leveraging existing physical and electronic networks thus reducing cost of ownership Access to the Caribbean Diaspora Globally Settlement on a Ubiquitous Caribbean Network Bring Innovative Services to the Caribbean Create a differentiation amongst Caribbean and Foreign Banks

13. LET US WORK TOGETHER TO CARVE OUT OUR SPACE IN THE GLOBAL REMITTANCE MARKET!! Thank you Q & A