Tag Archives: United States

10Feb/15

Somalian lifeline cut off by suspension of remittance services

Somalia-Remittances

China Central Television (CCTV)

Most of the major U.S. banks have ended remittance services to Somalis after new regulations were passed to stop money from getting into the hands of terrorists such as Somalia’s Al Shabaab. However, funds sent back home to Somalia are crucial for many families and businesses in a country that lacks a proper financial system from years of fighting.
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