About Us
Lifeline to the Somali people
The Somali Money Services Association (SOMSA) is a professional trade association representing the Somali Money Services Businesses (MSBs) serving communities and corporate clients throughout the UK.
Remittance funds from communities are sent to their family members in Somalia and in neighbouring countries, including some of the remotest places in the world. Corporate clients include the BBC, CARE International, Oxfam GB, Save the Children, and the United Nations. The financial flows from these remittances and aid agencies provide a lifeline to the Somali people. In addition, SOMSA members facilitate the primary channel of investment into Somalia, contributing to vital economic growth of the country and the Horn of Africa region.
SOMSA’s activities on behalf of its members include
Central focal point for liaising with regulators, banks, and other associations
Promotion of the highest level of compliance, ethical, and legal standards to ensure financial inclusion
Sponsor of outreach and education programmes to ensure that the Somali MSB sector is understood by external stakeholders, and our agents are trained
Recognition of members for outstanding community outreach and involvement in Britain and Somalia