Muslim charities still being debanked despite Farage furore
Muslim charities still being debanked despite Farage furore
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Muslim charities say they are still having their bank accounts closed without warning or explanation and face difficulties opening an account despite the political backlash after Nigel Farage's high-profile debanking. It means charities face obstacles in carrying out their work, with some even being blocked from providing humanitarian aid and life-saving operations, according to a report from the Muslim Charities Forum (MCF).
It found 68% of Muslim charities reported difficulties opening bank accounts, 42% experienced a complete withdrawal of banking services and 42% also had significant challenges with transferring funds. This delayed payments which damaged humanitarian work, the report said.
Money blog: Your boss is probably spying on you at home. Real-life harms were outlined by charities anonymously interviewed for the research. One charity running a hospital in a conflict zone was not able to pay doctors and nurses for two months. Another supporting Syrian refugee children with cancer in Turkey had a payment delayed for a year, "severely" impacting the timely delivery of care to the children. A third received an eviction notice from a shelter because a payment had not arrived.
Barclays to slash CEO's fixed pay as package capped at £14m. Revolut founder Storonsky lands £350m bonanza from digital banking giant. Shawbrook aims to kickstart London IPO market with £2bn float. But even when debanking did not directly halt a project, it damaged 44% of respondent charities' relationships with partners, they said. Delays in sending funds or having their account closed led to a breakdown in trust, the MCF added.
