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U.S. Bank Shuts Down Money Wiring Service To Somalia

Above: Militants belonging to Somalia's Al Qaeda-inspired Al Shabaab Islamists stand in formation on October, 21, 2010 during a show of force in Somalia's capital Mogadishu

Aired 12/20/11 on KPBS Midday Edition.

GUEST:

Abdulmalik Buul, chairman San Diego Somali Youth League of San Diego

Wali Warfa, agent for San Diego's largest hawala.

Transcript

Evening Edition

Abdulmalik Buul joins Amita Sharma to discuss what the shutdown means.

Evening Edition airs weekdays at 5 PM and 6:30 PM on KPBS TV

Somali Youth League of San Diego

4k Walk for Somalia

Franklin Bank was the only U.S. bank that still facilitated money-wire transfers to Somalia - until now. The bank is shutting down the service.

Franklin says continuing the transfers was too risky; there's a fear that the bank could be prosecuted after some money transfers were linked to a terrorist group in Somalia.

But the impact of this decision on the desperate people in Somalia, and their relatives here in San Diego, could be staggering.

Comments

Avatar for user 'Satariel'

Satariel | December 20, 2011 at 3:29 p.m. ― 2 years, 4 months ago

This was a good decision.

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