Somaliland: Dahabshil company Awaits Court Decision on Barclays Bank Account Closure


By: Guleid Abdi Maher

Somalilandsun – UK high court judge is expected to make a decision about the closer of bank accounts of money transfer agent Dahabshiil. The money transfer company took barcalys bank the court ofter the bank had threatened to close account s all money remittance companies.

Because of suspicions of money laundering and money going to the hands of the terrorist militancy that’s active in southern Somalia. Barclays bank has allowed Dahabshiil’s account to stay open until a decision on the suit is made by the presiding judge justice Henderson

According to the Dashabshil ” we are happy that our customers let them be NGOs or persons that our services will continue in the UK and we will remit our money to all corners of the globe” said the senior Dahabshiil company CEO Abdirashid Duale.

Barclays bank announced in may that it will close all 250 somali money transfer agents accounts with immediate effect these remittance agencies should use transparency in dealing with money the bank decision to the accounts caused on uproar Somali community in the UK who send money to their relatives back home many prominences such as distance runner Mo farah and Somali councilors in the UK the government to interfere so that these money transfer agencies have their accounts open Barclays bank. Somalis living in the UK send back home money established to be more than 100milion pounds and these money is depended by millions of Somali whose country has been ravaged by war to discontinue to send these money will have a great consequence on the plight of many innocent Somalis who may no be able to afford to buy food and as a result many may die of starvation, the government of UK should work with the money transfer agencies on how to make their services transparent they should seek the advice of the world bank on the way forward, more than 15bilion pounds is sent from the UK annually and 65percent of that money goes to the developing countries these make the united kingdom the largest money transfer hub in Europe.