Transfers and Remittances stopped by Barclays

Mike Gapes participated in the Parliamentary debate on the decision of banks like Barclays to cut off accounts for many small firms involved in money transfers and remittances on Wednesday  22 January. Here is what he said.  

Mike Gapes (Ilford South) (Lab/Co-op): In my constituency I have a large Somali community whose members send remittances to different parts of the world, as do other people. I want to supplement what my hon. Friend the Member for Sheffield Central (Paul Blomfield) said. Remittances do not just add to international development assistance because, globally, they are of greater value. If we cut them off, we will do serious damage to a number of countries and some of the poorest people in the world.

 

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