Thursday, 31 October 2013

Keeping remittances to Somalia flowing

LONDON, 30 October 2013 (IRIN) - Never has the UK’s Somali community taken so much interest in a court case. Dahabshiil Holdings Ltd, by far the biggest company remitting money from the UK to Somalia, has taken Barclays to court to try to prevent the bank closing down its account, without which the company says it cannot legally continue to operate. Other remittance companies have already had their accounts closed, because of what banks say are security concerns about money laundering and terrorism.
Read report online

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