By Goth Mohamed Goth
The Central Bank of the Republic of Somaliland, in pursuant of Article 133 of the Bank of the Laws No 54/2012, and in accordance with Article 4 Clause 4, Articles 83, 74, 92 and 69 of the Second Act of the Somaliland Central Bank Laws.54 / 2012 has issued this Decree:
It includes private banks, insurance companies, Insurance Companies, Foreign Exchange Dealers, Money Service Providers, Micro Finance Institutions, payment service providers, and all financial institutions working in Somaliland to:
- Register to the central bank if haven’t yet done so.
- Renewal of their operating licensees, if they have previously obtained a license from Central Bank of Somaliland.
Therefore, all Financial Institutions referred hereby, are required to fulfill the recommendations stated within three weeks of the issuance decree.