10 November 2012

Somalia: Puntland Warns Against False Currency From Southern Somalia

Garowe — Authorities in Somalia's Puntland region have warned against the infiltration of markets by false Somali Shillings, Garowe Online reports.

On Saturday, Puntland Deputy Finance Minister Abdi "Qowdhan" Ibrahim Warsame and Puntland Banks Director Hersi Mohamed Jama held a joint press conference at the Puntland Ministry of Finance building in the state capital of Garowe.

"Puntland government warns strongly against false currency being infiltrated into Puntland markets. The false currency is coming from southern Somalia," said Minister Abdi Qowdhan.

He warned that Puntland government will "impose fines and prosecution" against businesspeople and money exchangers involved in infiltrating false currency into Puntland markets.

Mr. Hersi Mohamed Jama, Puntland Banks Director, warned that false currency is "intended to damage Puntland economy".

Puntland police official Mr. Garane Dirie told reporters that police forces will intensify searches for false currency. Last month, Puntland police burned false U.S. dollars in Galkayo.

Garowe Online

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