Participate

We are currently engaged in a widespread request for the UK Government to work with British banks to find a durable solution to the recent decision of Barclays to close its accounts with Somali Money Service Businesses (MSBs). Some have already been closed. Others are facing closure and an uncertain future. 

With such a short timeframe, and without having provided a comprehensive explanation as to why Barclays wishes to sever its relationships with the MSBs, we are understandably finding it very difficult to find new partners to work with. Please join our efforts to find a solution by adding your support here: http://chn.ge/15rLfWp.

A similar situation has occurred in the US, where our counterparts are experiencing huge obstacles to remaining 'banked'.  See SAMSA for more information.

News & Press

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Financial remittance provides millions of people around the world, particularly in the Global South, with a lifeline. However, Barclays Bank’s sudden decision to close genuine accounts held by money transfer businesses has jeopardized this. The impact will…

somali-woman

The decision by Barclays Bank to close accounts held by genuine businesses which run a Somali Money Transfer scheme will have a huge impact on the most vulnerable. The finance sector has collapsed in Somalia and…

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To have a family member in need is distressing enough. When they are thousands of miles away it’s even worse. When a company removes the vital economic lifeline with which you can help them, it is a…

Barclays Bank Logo

Today is the deadline for Barclays to close the bank accounts of the remaining four large Somali money transfer businesses. Despite suggestions to the contrary, none of our SOMSA members have been able to secure equivalent alternative banking arrangements ahead of the deadline today. Unless…