Mo Farah calls on Barclays to maintain Somali ‘lifeline’
The Treasury is to look into the decision by major high street banks, including Barclays, to withdraw support from companies which transfer money to developing countries.
The move comes as Mo Farah, the Olympic gold medallist, this weekend called on Barclays to delay its plans to close accounts to the firms concerned.
Mr Farah, who was born in Somalia, is concerned because Dahabshiil, the African country’s biggest money transfer company, is one of the money remitters which Barclays has decided to withdraw support for.
“Cutting this lifeline would be a disaster for millions. The small sums sent home by British Somalis each week enable family members to buy food, medicines and other life essentials,” he said.
Mr Farah has been sending money back to Somalia for a number of years. “Everyone following the issue understands that Barclays has a bank to run, but this decision could mean life or death to millions of Somalis,” he said.