Somalia News

"Somali Proposal to End Bank Misery."



A Somalian gunman stands in front of the Barakaat headquarters in Mogadishu on Nov. 9, 2001

a day after Somalia's largest financial institution was named a "financier of terror" by the United States.


Somali officials have stated that they believe that the United States should take over control of the Al-Barakaat financial network, which was shut down by the United States because of its supposed links to terrorism. Somalis who live overseas used Al-Barakaat to send money to realtives still living in Somalia. Due to its closure many Somali families have been struggling to continue to survive.

The foreign minister of Somalia's Transitional National Government, Yusuf Hassan Ibrahim, told a meeting of the United Nations Security Council on Monday, that the United States government should assign a bank to handle the transactions which could then be scrutinized by the United States treasury department. He also stated that un-freezing the accounts of many individual holders would have no effect on Al-Qaeda.

The Transitional National Government has not yet officially submitted their proposal for Al-Barakaat financial network to the United States. The action of the United States upon this financial network has caused a multitude of problems for Somali people who are reliant on outside sources for their monetary support. The plan that is proposed by the foreign minister appears to be a logical solution to help repair the corruption in the Somali financial system.



"Security Council Debates Reconciliation."

UN Integrated Regional Information Networks



The United Nations Security Council held an extensive debate on the situation in Somalia and what would be the best way to promote a national reconciliation process. Many of the international delegates involved in the debate favored the creation of the Transitional National Government and are also hopeful that the reconciliation conference set for April will help to include the interests of all political parties in Somalia. The United States encouraged all Somali parties to attend the conference "and approach it with the goal of fostering political stability in Somalia."

Although the United Nations believes that they can play a role in helping to establish a centralized government in Somalia many believe that only the Somali people can only establish stability in Somalia. While the Somali people control their political destiny, the international community has to help Somalia create a politcally stable government that represents the ideals of all the people.

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