October 2013

The decision by Barclays Bank to close accounts held by genuine businesses which run a Somali Money Transfer scheme will have a huge impact on the most vulnerable. The finance sector has collapsed in Somalia and… The decision by Barclays Bank to close accounts held by genuine businesses which run a Somali Money Transfer scheme […]

Financial remittance provides millions of people around the world, particularly in the Global South, with a lifeline. However, Barclays Bank’s sudden decision to close genuine accounts held by money transfer businesses has jeopardized this. The impact will be particularly felt in Somalia, where the finance sector has collapsed and people rely on these businesses. World