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Somalia: Barclays Delays Plans to Close Somalia Money Transfer Companies
ERTA, 4 October 2013
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… Read more »
Are Money Transfers to Somalia Doomed?
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 Shabaab. The move has prompted fears that families who rely on the payments - mainly from Europe and America - for basic expenses will be hardest hit by the suspension.
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Somalia: Hawala Shutdown - A Blow to Somalia Residents!
Radio Dalsan, 5 October 2013
As the most preferred money transfer system for Somalis living in the Diaspora to their relatives in Somalia, many residents of Mogagadishu' Capital and all Somalia fear for the… Read more »
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Somalia: Are Remittances Doomed?
UNIRIN, 19 September 2013
Millions of people in Somalia rely on money sent from friends and relatives living abroad to meet the expenses of day-to-day living. These remittance flows are thought to be two or… Read more »
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Somalia: Somalis Worry Remittances At Risk As Cutoff Deadline Passes
VOA, 10 July 2013
British bank Barclays had set a Wednesday deadline for suspending business with wire transfer services operating in Somalia, threatening a major source of money for citizens in the… Read more »
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Somalia: Somalis Asks British Bank Not to Cut Off Funds
Shabelle, 24 June 2013
Somalia's money transfer businesses appealed on Monday for the last major British bank they work with not to close its accounts, warning this would cut lifeline services for the… Read more »
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Somalia: Barclays to Cut Somalia's Remittance "Lifeline"
UNIRIN, 4 July 2013
By withdrawing banking services from more than 250 money-transfer companies, Britain's Barclays Bank risks severing an essential lifeline for millions of people in Somalia who… Read more »
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Somalia: Barclays to Cut Somalia's Remittance "Lifeline"
UNIRIN, 4 July 2013
By withdrawing banking services from more than 250 money-transfer companies, Britain's Barclays Bank risks severing an essential lifeline for millions of people in Somalia who… Read more »
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Africa: Tapping Migration Wealth to Fund Development
Africa Renewal, 22 July 2013
In a small and stuffy room in midtown Manhattan, some people are filling in forms while others wait patiently in line to submit them. It is spring in New York City but the… Read more »
InFocus
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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 »
