The deadline imposed by Barclays Bank to close some 250 money transfer businesses serving Somalia was Monday (September 30th), but Dahabshil, the largest provider of cash transfers in Somalia, received yet another extension, Britain's The Guardian reported.
Dahabshil applied to the high court for an interim injunction last week, saying that Barclays' termination of their account lacked "objective justification", a claim the bank said was baseless.
Nevertheless, the bank granted Dahabshil an extension until October 16th to take its banking elsewhere.
Dahabshil has found a new bank that allows them to make corporate and aid agency remittances to Somalia, but personal cash remittances have not yet been resolved. Dahabshil did not release the name of the new bank on "commercially sensitive" grounds.