World Bank Supports Somali Remittance Flows

The World Bank published on 10 June 2016 a press release titled "World Bank Makes Progress to Support Remittance Flows to Somalia." After many banks closed the accounts of Somali remittance companies due to concerns about money laundering and potential links to terrorism, the World Bank began working with the Central Bank of Somalia to create a "Trusted Agent" to help supervise the money transfer business.