Controls on remittances risk driving financial flows to Somalia underground

[Deeq A.]

Remittance companies are a crucial mechanism for transferring cash to Somalia, where the fledgling formal financial sector remains largely isolated. Despite improvements, Somalia struggles with weak financial management, a climate of impunity regarding government corruption and the destabilising threat posed by the homegrown Islamist militant group, Al-Shabab.

Source: Hiiraan Online