1. Global Remittances: Update on the UK-Somali Corridor
- Author:
- Mohamed Aden Hassan and Giulia Liberatore
- Publication Date:
- 01-2015
- Content Type:
- Journal Article
- Journal:
- Bildhaan: An International Journal of Somali Studies
- Institution:
- Macalester College
- Abstract:
- In May 2013 Barclays Bank in the UK announced it was shutting down the accounts of four Somali Money Service Businesses (MSBs) includ- ing Dahabshiil, the largest remittance company operating in the Somali regions. Following international uproar, and a Somali diaspora-led grassroots campaign, the UK government took on the task of setting up an Action Group on Cross Border Remittances and a Somali-UK Safer Corridor Pilot Project with the aim of finding a durable solution to the problem. Two years later, however, the Safer Corridor Project has collapsed. Legal remittance flows persist, albeit in a fragile and precarious environment. This paper provides a brief update on the Safer Corridor Initiative, its challenges, and how the money transfer sector has been adapting to the process.
- Topic:
- International Cooperation, International Trade and Finance, Diaspora, and Legal Theory
- Political Geography:
- Africa, United Kingdom, Europe, and Somalia