Don't close Somali cash 'lifeline', charities tell Barclays

Channel 4 News, 9 September 2013,  Jamal Osman

In the latest attempt to save Somalia's cash "lifeline", nine aid agencies call on Barclays Bank to scrap plans to sever money transfer accounts.

It is is the only bank in the UK still providing this service. However, it plans to close all the accounts of Somali money transfer firms by the end of this month.

There is a perceived legal and reputational risk of providing banking services to the sector. Barclays is concerned that criminals and terrorists could use the existing system.

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