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Africa Horn
How to disrupt Al-Shabaab revenue streams in Somalia
2023-03-31
[Garowe] The al-Shabaab
...... the personification of Somali state failure...
extortion racket continues to expand, despite efforts by the federal government of Somalia to destroy channels that are used by the group, which still controls large swathes of rural central and southern Somalia but has since lost a sizeable portion following the latest operation.

A study done by the Africa Center of Strategic Studies notes that the group has been doing formal banking necessitating the recent action by the government of Somalia to implement Anti-Money-Laundering and Countering the Financing of Terrorism Act in 2016 which requires financial institutions to report transactions that exceed $10,000.
Posted by:trailing wife

#1  Somalia has done little, and little can be done, to reduce the importance of hawaldars -- the traditional money-managers that exist outside of banking channels and who handle most grey money.
Posted by: Slavising Unineting5672   2023-03-31 08:11  

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