-
Somalia: U.S. Bank Ending Money Transfers 'Catastrophic'
Thomson Reuters Foundation, 3 February 2015
A decision by a U.S. bank to stop doing business with companies that transfer money from Somalis living in the United States to families back home could have a "catastrophic"… Read more »
More Obstacles to Somali Money Transfer
A decision by Merchants Bank of California to stop doing business with companies that transfer money from Somalis living in the United States to families back home could have a "catastrophic" impact on the fragile Horn of Africa country, development groups said. Somalis abroad send more money home than humanitarian and development aid combined, according aid groups Oxfam, Adeso and the Inter-American Dialogue.
InFocus
-
Barclays Bank has set a deadline for suspending business with wire transfer services operating in Somalia, after reports that the service is being used to fund terrorist group Al ... Read more »
-
Experts say London-based Barclay's bank plans to close the accounts of money transfer firms, for fear it might end up in the hands of "terrorist" groups, might prove ... Read more »
-
A London court has ordered Barclays to allow the Dahabshiil money transfer firm to continue operations, giving a reprieve to most Somalis who depend on the service for aid and ... Read more »
