Dahabshiil closed for financing terrorism -News-kenya.com

The government has suspended the licence of Dahabshiil money transfer company and another 12 companies whichoffer money transfer and Forex services that are mostly used by Somalis. The 13 aresuspected of financing Al Shabaab terror group and itsterror activities.

Dahabshiilis among 86 companies and individuals whose bank accounts have been frozen for being associated with terrorism and piracy related activities.Through the banking order number 3 of 2015, the Kenyan government has ordered all banks and micro-finance institutions to deny financial services to the 86 and file their transaction reports with the central bank within 48 hours.

Below is a list of all money transfer companies that have been shut down:

• Amal Express Money Transfer Ltd
• Amana Money Transfer Limited
• Bakaal Express Money Transfer Ltd
• Continental Money Transfer Ltd
• Dahabshill Money Transfer Limited
• Flex Money Transfer Limited
• Hodan Global Money Remittance and Exchange Limited
• Iftin Express Money Transfer Limited
• Juba Express Money Transfer Limited
• Kaah Express Money Transfer
• Kendy Money Transfer Limited
• Tawakal Money Transfer Limited
• UAE Exchange Money Remittance Limited

All the13 Forex bureaus and hawalasabove have been accused of funding terrorism.Citing the proceeds of crime and anti-money laundering act of 2009, the Kenyan government has said thatinformation obtained on the 13 institutions renders their business unjustifiable becausethey accused of aiding economic crimes and terrorism activities. Source:news-kenya.com

- See more at: http://news-kenya.com/2015/04/dahabshiil-closed-for-financing-terrorism-hawala/#sthash.1OCqPwnN.dpuf