Somali money transfer firms ‘used to fund war’

https://i1.wp.com/www.hiiraan.com/news/2008/feb/images/SharifHassan_SheikhSharif.jpgNAIROBI: Somalia’s central bank governor says rebel groups are using informal money transfers to fund their operations and that people in the war-torn country risk starvation if it is hit by Zimbabwe-style inflation.Bashir Isse Ali told Reuters in an interview that Al-Shabaab – which Washington considers as Al-Qaeda’s proxy in the failed Horn of Africa state – sends and receives funds via money transfer firms and urged more transparency to combat money laundering.”Al-Shabaab sends and receives money through this system using individuals, not as an organization,” Ali said. “Money transfer firms should know their customers and share information with authorities.”On inflation, the governor said Finance Minister Sharif Hassan Sheikh Aden planned to print money in Sudan and said this risked sparking runaway inflation that would cause people to starve.

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