Mogadishu, Somalia: Mohammed Adan’s four school-age children are the latest victims of new international banking regulations aimed at terrorists, but hitting ordinary Somalis hard. Adan’s brother lives in the US where he runs a small business and sends money home to Somalia to pay school fees.
Now new rules imposed this month to stop money laundering and terrorist financing mean all US transfers to Somalia are blocked. “Why should someone stop my brother from helping my family?” Adan asked as he left a hawala - or money transfer office - empty handed after the payments he was desperately waiting for failed to come through.