Somalia remittance firm fights money laundering claims

A client at an Amal Express outlet in Mogadishu, Somalia.

Photo credit: Courtesy

What you need to know:

  • The company, which runs the semi-formal transfer service known as Hawala in most East African countries, says it has always followed local laws and standards, including limits on the amounts of money to be sent by individuals.
  • The company is reacting to a report by Geneva-based Global Initiative Against Organised Crime (GI-TOC), which claimed a number of Hawala service providers including Amal had been used to settle illegal payments to arms dealers in Yemen.

Somalia’s money remittance firm Amal Express says it is open to an audit by regulators to prove it has not aided money laundering for purchase of illegal arms.

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