Sentence examples for Remittance from inspiring English sources

If it goes ahead with its decision, it would be the second time the bank has warned Somali remittance companies of pending account closures; in October 2014, the bank reversed a prior decision to close their accounts.

In the US, the Sunrise Community Banks based in Minnesota closed all Somali-American remittance accounts in 2011, following two high-profile prosecutions of Somali-Americans in the city.

Somalia might be one of the poorest nations in the world, but its remittance system is widely seen as a model for other nations.

While recognising that money could be transferred to terrorists in Somalia, its response is not to ban the remittance system but to try to make it more transparent.

Flights were few and expensive and spare cash was instead sent back home, establishing a remittance economy that exists to this day.

Triple that number would not be able to access basic needs if the remittance flows stop".

As a bank that specialises in remittances, and one of a few that still does business with Somali remittance companies, Merchants Bank of California is considered one of the key links in the chain.

The remittance services sector has been choked in the UK, as well.

In May 2013, Barclays, the last major bank to provide remittance services to Somalia, announced plans to close the accounts of about 250 money transfer businesses, citing concerns about money laundering.

"The potential impact of the closure of the remittance industry in Somalia would be devastating," Ali said.

Another is a cut-price remittance system, NationHela, that lets Kenyans abroad wire money to a sort of debit card held by their folks back home.The digital revolution has not yet upended Africa's newspapers, but Mr Gitahi acknowledges that one day it will, as more Africans get smartphones and decent bandwidth.