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Barclays end Somali cash transfers

4 years ago30 views

presstv

PressTV

The British bank Barclays has announced decision to sever ties with close to 250 remittance agencies that transfer money to Somalia. The decision is going to affect the lifeline for an estimated 40% of the Somali population which rely on the transfers. The bank says it is worried that some of the cash may be used to fund terrorist organizations.