Monday, 26 October 2009

SOMALIA: Anti-terror laws hinder Somali immigrants

For months, Somalis living in Columbus have complained that it has become increasingly difficult to send money home to family members because of banking-industry fears that the funds could end up with terrorists.

Huntington, JPMorgan Chase and Charter One are among the banks that have closed accounts set up by remittance companies, said Omar Tarazi, a local lawyer who has worked with the Somali American Chamber of Commerce and several remittance companies.

Somali leaders said remittances that refugees send home are a lifeline to families and friends struggling in the war-torn African nation. It has few banks, so remittance companies are crucial to sending money home. Read more

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