"This report provides an overview of remittance flows from Germany to Serbia and analyzes why a large part of remittance transfers take place outside financial institutions. The study presents a series of recommendations on needed policy changes to facilitate the transfer of remittance flows from the informal channels to licensed or registered financial institutions, thereby maximizing the development impact of remittances, reducing remittances fees, improving data collection practices, and strengthening the regulation and supervision of the money transfer industry."--BOOK JACKET.