Somalis celebrate lifting of sanction on Barakaat

Hundreds of Somalis have convened in Mogadishu to celebrate US government decision lifted sanctions on Barakaat group of companies.

The celebrators including the mayor of Mogadishu, Omar Mohamud Mohamud Filish have joined the Chief Executive Officer, Ahmed Ali Jimalea to celebration event to mark the delisting of Barakaat Group by US Treasury.

Speaking at the event, Jawaahir Barkhab, Chairlady Woman of Banaadir Women Association lauded the move delist the company.

She urged US Government to compensate Barakaat Group for the of the loss.

On 13th of this month, the US Treasury declared that it deleted al-Barakat from the list of Specially Designated Nationals (SDN).

The company which was established in the late 1980 was Somalia’s biggest money-transfer company.

According to the company’s record, Barakaat was helping Somalis to send about $140 million a year.

In the wake of the September 11, 2001 bombings in the US, however, Washington imposed sanctions on al-Barakat, barring its agents in the US or anywhere else in the world from helping remit money. Much of the company shut down.

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