Monday, 26 January 2009

SOMALIA: Delays to the Somali elections will have no impact on Remittances - IAMTN

’The delay of the election for the new President of Somalia is likely to have little or no impact on remittances’ Leon Isaacs, Managing Director of the International Association of Money Transfer Networks’ said. Estimates out the value of remittances into Somalia at up to USD 1 billion annually. These remittances are made through organisations that have been able to operate under extremely challenging circumstances and in a country where there is no central bank and the regulatory regime is quite different to anywhere else in the World. Read more

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