Voice of America: Somalis Worry Remittances at Risk as Cutoff Deadline Passes

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Somalis Worry Remittances at Risk as Cutoff Deadline Passes Jul 10th 2013, 15:11, by webdesk@voanews.com (Gabe Joselow) British bank Barclays had set a Wednesday deadline for suspending business with wire transfer services operating in Somalia, threatening a major source of money for citizens in the country. The bank gave extensions to many of the companies, but Somali residents worry about what they will do if and when their financial lifelines are cut.   Money transfer in Somalia is big business. The United Nations estimates the country receives $1.2 billion each year through remittances sent from ... Media files: 151152FA-D339-43BB-9592-9B19A65001C0_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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