US Removes Somali-owned Businesses from Specially Designated Nationals List

The U.S. Department of Treasury has updated Specially Designated Nationals List by removing the list from Somali businesses including branches of the eponymous Al-Barakat Group of Companies. Owners of businesses once based in Bakara market in Mogadishu include in the update.

Counter Terrorism Designations Removals

The update will affect more than thirty eight businesses and persons. The US Government blacklisted Al-Barakat and associated companies in 2002 several months after 9/11 attacks on World Trade Center.

The update will enable companies and persons to withdraw any money frozen in foreign banks. Read more on here: Counter Terrorism Designations Removals

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