Barclays' Somalia remittance accounts win stay of execution

The Guardian, 9 September 2013, Mark Tran

NGOs welcome Barclays' move to extend deadline for money transfer accounts but say more time is needed to find solution.

Aid agencies are urging Barclays to further postpone its decision to close the accounts of money transfer companies beyond 30 September amid fears the move will cut a financial lifeline to Somalia just as it is getting back on its feet after years of war.

"It is a welcome sign that Barclays is reconsidering its decision to close accounts but a 20 days' grace period is just a short stay of execution," said Oxfam's chief executive, Mark Goldring. 

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