US bank stops transfers to Somalia

Somali-Americans protest against decision by bank, which says it is merely following US law.

A US bank has stopped money transfers to Somalia, saying it is following US laws.

Sunrise Community Banks, the only one in the Minneapolis-Saint Paul area, says it is merely complying with US laws on financing what Washington calls “terrorist organisations”.

The move has angered many Somalis in the US whose relatives back home depend on remittances for survival. Bank officials have said they fear being prosecuted under federal laws and say it is not worth the risk.

Al Jazeera’s Stefanie Dekker reports.

Source : Al Jazeera

More from News
Most Read