Somali money transfer companies closed amidst terrorism allegations

A day after the Kenyan government ordered the closure of 13 Somali money transfer companies suspected of financing terrorism, the affected companies are looking to force a court appeal against the government's decision.

Somali remittance companies deliver hundreds of millions into the horn of Africa each month, including funds for aid agencies, filling gaps in the absence of a formal banking system.

As part of its anti-terrorism crackdown, the Kenyan government also closed the accounts of 86 individuals, organizations, hotels and companies it accused of being involved in terrorism.

Somalia's banking system collapsed in the 1990's

The killing of 148 students by Al-Shabab in Garissa, approximately 120 miles from the Kenya-Somalia border, has put pressure on President Uhuru Kenyatta to deal with the terrorist group, which has killed more than 400 people in Kenya over the last two years.

Kenya's Foreign Minister, Amina Mohamed said the country is seeking additional foreign intelligence and security help after the Garissa massacre.
It’s the deadliest attack in Kenya since Al-Qaeda bombed the U.S. embassy in 1998, killing more than 200 people.