The Islamic insurgent group that controls much of southern Somalia has banned remittances and mobile money transfers, threatening the foundations of the economy.
Al-Shabaab said these services were contrary to Muslim teachings and threatened “traditional Islamic banking methods”.
Al-Shabaab said these services were contrary to Muslim teachings and threatened “traditional Islamic banking methods”.
Foreign remittances are estimated to bring about $1.6bn into Somalia every year. About 1m Somalis live abroad and the funds they send home are crucial to many livelihoods.
Mark Bowden, the UN’s humanitarian co-ordinator for Somalia, said: “Diaspora remittances provide a vital lifeline to millions of Somalis who depend upon them for day to day subsistence.”
Mark Bowden, the UN’s humanitarian co-ordinator for Somalia, said: “Diaspora remittances provide a vital lifeline to millions of Somalis who depend upon them for day to day subsistence.”
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