Barclays bank had announced it would be closing down the accounts of money transfer services to Somalia at the beginning of October. Following the opening of legal proceedings at the High Court in London on Monday, the case was adjourned for two weeks.
Barclays Bank has now agreed to delay any shut down plans until a final judgment is made. The Bank said it made its original decision to close the accounts of money transfer services because of concern that it could not keep track of where the cash was going and that it might therefore be funding terrorism.
Oxfam UK welcomed the extension of the Bank's services while the case is being considered. It said "Barclays needs to keep all accounts open until a long-term answer is found", and called on the UK Treasury to push for "a robust solution that ensures ordinary Somalis are not penalized by regulations intended to crack down on illicit financial flows."
Source: Ministry of Foreign Affairs