The US has lifted sanctions on Somali group of companies, Al-Barakat, which dealt in informal money transfer services. PHOTO | FILE | NATION MEDIA GROUP
The US government has officially lifted sanctions on a Somali group of companies that had been accused of sponsoring terrorism activities.
Al-Barakat, a conglomeration of firms that dealt in informal money transfer services known as hawala and also dealt in logistics, telecom and internet services, had been banned by the US Office of Foreign Asset Controls (OFAC) since November 2001.
