Somalis Want Gov’t To Lift Remittance Money Transfer Limitations
“We used to get monthly bills from the U.S. to pay the children’s school fees and to buy food. This month we did not get any money, so we request that the U.S. and the government of Somalia cooperate in lifting the ban,” Mogadishu resident Safiyo Hassan told CCTV Africa.
Roughly $1.3 billion in remittances from the Somali diaspora is sent to Somalia from the U.S. annually. According to CCTV Africa, this trumps foreign aid to the country and is done so through money transfer services and banks. In an effort to curb money laundering and terrorism financing, the government has put limitations on money transfer processing. Restrictions pose issues for Somalians within the country whose livelihoods depend on money from abroad.