August 26
Somalia: Al-Shabaab Issues Warning to Somali Banks Over New 5 Percent Sales Tax
Al-Shabaab, the militant group controlling parts of Somalia, has issued a stern warning to local banks and financial institutions against complying with the recently introduced 5%… Read more »
October 30, 2023
Somalia: First Foreign Bank Opens in Somalia in Decades
Ziraat Katilim Bank of Türkiye has opened a branch in the Somali capital of Mogadishu, becoming the first international bank to operate in the East African country in more… Read more »
August 11, 2023
Somalia: Central Bank Opens 1st Branch in Galmudug State
A milestone has been reached in Somalia as the central bank expands its service to Galmudug state, the first of its kind in 30 years. Read more »