Barclays’ deadline to cut off its remittance operations in Somalia is just around the corner: September 30. Yet, financial ministers in Somalia along with other international bank officials are still fighting to keep the country’s current remittance system.
“We are deeply concerned the situation of the money transfer business, which is the main source of income to millions of people and contributes a significant percentage to the regional economy,” Deputy Prime Minister and Minister of Foreign Affairs Fowsiyo Yusuf Haji Aadan said during a cabinet meeting late last week to All Africa.
“Stopping the diaspora support system will have a negative impact to the livelihood of the Somali community and other similar communities around the region,” she said.
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