23.10.2012 - New law opens door to formal banking in Somaliland
No financial institution has operated regularly in Somalia since the collapse of the central government in 1991, but a new law passed in Somaliland earlier this month established the framework from which privately owned institutions can open and operate banks in the region. Somaliland President Ahmed Mohamed Silanyo signed the Islamic Banking Bill on October 4th after it was approved by regional parliament in September. The law had been in the works since 2007...............................................Full Article: Source
Print