Overcoming the challenges of money transfer to Somalia : TransferGalaxy AB
Daahir, Hassan (2020)
Daahir, Hassan
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020052814822
https://urn.fi/URN:NBN:fi:amk-2020052814822
Tiivistelmä
This thesis examines the challenges facing money transfer to Somalia and how to overcome them. Though a major contributor to economic growth in Somalia, money transfer business has several challenges ranging from security concerns, problems of lack of cooperation amongst money transfer agencies, difficulty faced by elderly customers in adapting to the modern use of online platforms, problems of insufficient liquidity to execute large transactions and the lack of necessary documentation to operate.
The main aim of the work is to study the methods used to tackle the problems of money transfer to Somalia. The specific objectives are to identify the various means of money transfer to Somalia, investigate the difficulties faced by the transfer agencies and to propose better or more suitable and safe methods of carrying out smooth transactions.
Relevant theories and concepts that explored the trends, current situation and difficulties associated with money transfer were used. These were obtained from available documentation, e-books, the works of other researchers and material from reliable online sources.
Qualitative methods were employed for data collection in the form of interviews. Interviewees were people with four to twelve years of experience in remittance business. Data was collected, analyzed and discussed, and recommendations made to the commissioner.
The Commissioner, Transfer Galaxy, provides instant and cash-free mobile money transfer services. The company offers mobile money transfer, online money transfer, finance, start-up, remittances, and technology.
The main aim of the work is to study the methods used to tackle the problems of money transfer to Somalia. The specific objectives are to identify the various means of money transfer to Somalia, investigate the difficulties faced by the transfer agencies and to propose better or more suitable and safe methods of carrying out smooth transactions.
Relevant theories and concepts that explored the trends, current situation and difficulties associated with money transfer were used. These were obtained from available documentation, e-books, the works of other researchers and material from reliable online sources.
Qualitative methods were employed for data collection in the form of interviews. Interviewees were people with four to twelve years of experience in remittance business. Data was collected, analyzed and discussed, and recommendations made to the commissioner.
The Commissioner, Transfer Galaxy, provides instant and cash-free mobile money transfer services. The company offers mobile money transfer, online money transfer, finance, start-up, remittances, and technology.