Fears of financing terror closes another money transfer outlet for overseas Somalis

Published June 25, 2013

| Associated Press

When a bank transfers money to Somalia, can it be sure it's not sending money to terrorists? That question is forcing one of Britain's largest banks to cut ties with the biggest cash transfer bank in Somalia.

Many Somalis are in desperate need of money. Payments from family and friends overseas are how many get by, and that's why more than 100 aid workers and Somalia experts signed a letter this week pleading with the British government to find a solution to the decision by Barclays to cut ties with the Somali bank Dahabshil.

Dahabshil describes itself as "the most trusted money transfer company for many immigrants willing to support their families and friends." But fewer banks in Britain and the U.S. are willing to transfer money into Somalia.

URL

http://www.foxnews.com/world/2013/06/25/fears-financing-terror-closes-another-money-transfer-outlet-for-overseas/