SOMALIA-US-UNREST-BANKING

A customer (R) waits to collect money at the Juba Express money transfer company in Mogadishu on February 12, 2015. The US-based Merchants Bank of California has said it will halt its services to money transfer companies in Somalia, a decision aid groups say would stop up to 80 percent of the $200 million sent annually by relatives in the United States from reaching Somalia. With no formal banking system in the impoverished Horn of Africa nation, diaspora Somalis across the world turn to money transfer services to send money back home support their families, sending some $1.3 billion (1.1 billion euros) each year. Banks have become increasingly reluctant to keep them as customers as regulators crack down on money laundering and the funding of terrorism. AFP Photo/Mohamed Abdiwahab (Photo credit should read Mohamed Abdiwahab/AFP via Getty Images)
A customer (R) waits to collect money at the Juba Express money transfer company in Mogadishu on February 12, 2015. The US-based Merchants Bank of California has said it will halt its services to money transfer companies in Somalia, a decision aid groups say would stop up to 80 percent of the $200 million sent annually by relatives in the United States from reaching Somalia. With no formal banking system in the impoverished Horn of Africa nation, diaspora Somalis across the world turn to money transfer services to send money back home support their families, sending some $1.3 billion (1.1 billion euros) each year. Banks have become increasingly reluctant to keep them as customers as regulators crack down on money laundering and the funding of terrorism. AFP Photo/Mohamed Abdiwahab (Photo credit should read Mohamed Abdiwahab/AFP via Getty Images)
SOMALIA-US-UNREST-BANKING
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463259552
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AFP
Date created:
12 February, 2015
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AFP
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AFP
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Par8097183
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