Innocent people are being frozen out of basic banking services – and it all traces back to reforms rushed through after 9/11
Hamish Wilson lives a few miles away from me, in a cosy farmhouse in the damp hills of mid Wales. He makes good coffee, tells great stories and is an excellent host. Every summer, dozens of Somali guests visit Wilson’s farm as part of a wonderfully wholesome project set up to celebrate their nation’s culture, and to honour his father’s second world war service with a Somali comrade-in-arms.
Inadvertently, however, the project has revealed something else: a deep unfairness in today’s global financial system that not only threatens to ruin the Somalis’ holidays, but also excludes marginalised communities from global banking services on a huge scale.
