HomeSend announces money transfer agreement with WorldRemit
SOMALIA, Mogadishu: In a photograph taken 23 October 2013 and released by the African Union-United Nations Informtaion Support Team 25 October, a man counts Somali shilling notes having just exchanged US Dollars with a money changer on the streets of the Somali capital Mogadishu. Millions of people in the Horn of Africa nation Somalia rely on money sent from their relatives and friends abroad in the form of remittances in order to survive, but it is feared that a decision by Barclays Bank to close the accounts of some of the biggest Somali money transfer firms – due to be announced this week - will have a devastating effect on the country and its people. According to the United Nations Development Programme (UNDP), an estimated $1.6 billion US dollars is sent back annually by Somalis living in Europe and North America. Some money transfer companies in Somalia have been accused of being used by pirates to launder money received form ransoms as well as used by Al Qaeda-affiliated extremist group al Shabaab group to fund their terrorist activities and operations in Somalia and the wider East African region. AU/UN IST PHOTO / STUART PRICE.

HomeSend announces money transfer agreement with WorldRemit

Paris, 27 February 2013 eServGlobal announces a new agreement for the HomeSend remittance service with WorldRemit. WorldRemit is an online platform enabling migrants and expats to send remittances to family…

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