1.What means UMVA?
-Universal Method of Value Access.

2. Why do AUXFIN talks about value and not currency?

-members of UMVA are able have accounts for currency like dollar, euro, shilling etc but also specific value like Coffee, Tea, Sugar Cane, etc We have developed this to support the AGRO Cooperative organizations that have no access to solutions.

3. What is AUXFIN?
-AUXFAM FINANCIAL SOLUTIONS is the set of solutions to bank the unbanked

4. What is AUXFAM?
-AUXILIUM FAMILIAM is a company that delivers assistance in the family by a set of services special developed for migrant families and the connection to the developing world

5. Who are unbanked?
-people who have no access to financial solutions, nor formal or informal, the size of the unbanked is over 4 Billion people.

6. What is Financial inclusion?
-Financial inclusion is the delivery of financial services at affordable costs to vast sections of disadvantaged and low income groups

7. What is Financial exclusion?
-Financial exclusion is the unavailability of banking services to people living in poverty. It is believed to be one factor preventing poor people from exiting poverty, by forcing them to manage their finances on a cash-only basis and restricting their access to equitable sources of credit. Financial exclusion can make poor people vulnerable to loan sharks.
Microfinance is one approach that has been used to reduce financial exclusion.

8. What are Remittances?
-A remittance is a transfer of money by a foreigner (migrant, migrantworker, friends, refugee) to his or her home country

9. What are Formal and informal remittances?
-Formal remittances are send by Banks or MTO’s, informal remittances are mostly carried physically in to the county, the total sum of formal remittances to the developing world is around 360 Billion USD, the World Bank estimates that the informal remittances are about the same size

10. What is TCoR?
-Is the term used by AUXFIN to identify the Total Cost of Remittances. The total cost is combined of transfer cost, foreign exchange cost, communication, collection- and distribution cost, loss and theft. The total cost is around 25%, in some countries the TCoR of the informal remittances are more then 30%. The total amount of the money sent by Migrants that not arrives at the point of destination is estimated at 160 Billion USD

11. What is an MTO?
-Money transfer organization

12. Are remittances only send to developing countries?
-No, there are also remittances in the Western- or developed world, about 20% of the remittances are send between between developed countries.

13. What is AUX-EL?
-AUXFAM E-Learning module, or short AUX-EL is the distance learning system.

14. What is an MIS?
-A management information system, used by banks for financial and accounting systems

15. What is an MFI and are there other organizations ?

-A MFI is a Micro Finance Institute, an alternate form of bank found in developing countries which provides microcredit lending, some are also starting to take deposits and becoming rural banks. Other forms of rural financial organizations are SACCO (Savings And Credit COoperatives) They all belong to the group of regulated financial institutions. There are also non-regulated financial institutions mostly smaller in size, like FINGO’s (Financial NGO’s) Churches, Schools, Women organization etc.

16. What is diaspora?
A diaspora is the movement or migration of a group of people, such as those sharing a national and/or ethnic identity, away from an established or ancestral homeland. The diaspora many times forming groups in the new home county. Those groups requesting support from AUXFIN and AUXFIN FOUNDATION.