AfricaSource
Feb 11, 2015
Anti-Terror Financing Rules Choke Somali Remittances
On February 6, 2015, one of the last Western banks willing to transfer money to Somalia on behalf of the country’s diaspora—transfers which represent up to 80 percent of all funds sent from the US to Somalia—ceased operations, cutting off one of the diaspora’s last options to support relatives and friends still in Somalia.