In a story Feb. 12, The Associated Press reported that the U.S., the U.K. and other countries have expressed concerns that Somali money-transfer agencies are being used to help fund Islamic extremist groups. According to a 2013 statement from Barclays bank, the U.K. regulatory body Financial Conduct Authority said some money-transfer agencies were complicit in such activities.
The subsequent reference in the story to Dahabshiil, a money-transfer agency, as being one of the companies with which Barclays bank cut ties, should have made it clear that Dahabshiil was not itself accused of being complicit in the funding of Islamic terrorist groups. In fact, Barclays announced it would cut ties with agencies in Somalia as a precaution, whether or not it had specific evidence that the agencies’ customers had any connections with extremist activities.
According to Dahabshiil, the agency won an interim injunction with Barclays in late 2013 to maintain its account until an alternative was found.
The headline for the story referred to “informal remittances to Somalia.” Dahabshiil is a licensed company.
