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CGD in the News

The Unintended Consequence of Closing High-Risk Accounts (Wall Street Journal)

April 2, 2016

From article:

Other recent studies have found relations between banks and certain nongovernmental organizations have grown tense.

“Even large international NGOs are sometimes having trouble operating bank accounts if they’re trying to deliver aid to Syria, Afghanistan or Pakistan,” areas of particularly high risk for terror financing, said Vijaya Ramachandran, an expert with the Center for Global Development, a Washington-based think tank that produced a report on the subject in late 2015.

In February of this year, more than 50 nonprofits asked the U.S. Treasury to publicly affirm that nonprofit organizations aren’t inherently high risk.

Read full article here.

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