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The Somali Money Transmitters Association (SOMTA) represents the companies that enable Somalis living away from home to send money back to Somalia, either to support their families or to fund investment in housing or business. Remittances play a vital role in the Somali economy.
The companies seek to work to the required standards in all the jurisdictions in which they operate. SOMTA has been established to help them do so and to give them a voice in international and national regulatory decisions taking on the money remittance business.