Somalia welcomes Kenyan pledge to lift ban on cash transfers

Friday, June 19, 2015

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Somali lawmaker and Chairman of the Foreign Relations Committee in Parliament Mohamed Omar Dalha told Xinhua that they welcome the decision by President Uhuru Kenyatta, who on Thursday directed the central bank to issue regulations and then lift restrictions on key money transfer services vital for the Horn of Africa nation.

“We have talked with Kenya about this issue many times, and we consider it now that our efforts have succeeded; we wish also Nairobi should reverse another decisions, such as the construction of a security wall along its border with Somalia because it does not serve the interests of the two countries,” he added.

Kenya on April 7 published a list of 86 organisations and individuals as well froze accounts of 13 financial institutions suspected of financing terrorism in the country.

The ban not only affected Somalis back home, but Somali refugees who are living in northeastern Kenya’s Dadaab camp.

Abdulkadir Ali Siyad, Director of Juba Ex-press Money Transfer in southern Somalia, told Xinhua that they are very happy because their services will resume.

“Somali businessmen in Kenya were sending money to their families at home, as well as Somalis inside the country were sending to relatives living as refugees in Kenya. After the ban, many Somalis were unable to pay their children’s school fees, I think they would feel happy after the last decision” Siyad added.

Every year, Somalis from around the world send approximately 1. 3 billion U.S. dollars to Somalia to support families and friends. This represents 24 to 45 percent of the country’s GDP and more than all annual humanitarian aid, development aid and foreign direct investment combined.

Studies have shown that money received from overseas is used to meet basic needs, including food, water, healthcare, and education.

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