Central Bank of Somalia Issues 15 Licenses to Local And Foreign Banks

Mogadishu, (SONNA) — 𝐓𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐒𝐨𝐦𝐚𝐥𝐢𝐚 continues to strengthen the country’s financial framework through the licensing and supervision of institutions and companies that form the backbone of national financial services. 𝐓𝐨 𝐝𝐚𝐭𝐞, the Central Bank of Somalia has licensed 𝟏𝟓 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐛𝐚𝐧𝐤𝐬 (14 local, 1 international), all of which have successfully completed the Bank’s licensing process. A strong financial foundation is fundamental to achieving a sustainable financial and economic future. Accordingly, the Central Bank remains committed to building a financial system that is stable, inclusive, and resilient.