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The Central Bank Of Somalia

Central Bank of Somalia
About the Bank PDF Print E-mail

 About the Central bank of Somalia (CBS)

The Central Bank of Somalia was established on June 30, 1960 by Decree No. 3 and converted into Law No. 2 of January 13, 1961. 

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Vision

The Bank shall be guided in all its actions by the objectives of fostering monetary stability, maintaining the internal and external value of the Somali Shilling, and promoting credit and exchange conditions conducive to the balanced growth of the economy of the Republic, and within the limits of its power, it shall contribute to the financial and economic policies of the State.  

History

The history of the Central Bank of Somalia began when the United Nation’s Trusteeship Administration “A.F.I.S.” established on 8th April, 1950 a new currency institution regulator “Cassa per la circolazione monetaria della Somalia” with its Head Office in Rome (Italy). During the 1950s, as independence approached, on 6th April, 1959 the Head Quarter has been moved to Mogadishu, taking over all the assets, liabilities, operations of the Banca d’Italia’s Mogadishu branch.

On 3rd June, 1960 it ceased to exist and its functions have been transferred to the newly established central bank “Somali National Bank”.

 
BRIEF HISTORY OF THE SOMALI FINANCIAL INSTITUTIONS PDF Print E-mail
Written by Administrator   
Sunday, 22 June 2008 17:56
Last Updated on Monday, 04 March 2013 10:28
Read more...
 
LAWS AND REGULATIONS PDF Print E-mail
Written by Said Ado   
Sunday, 22 June 2008 16:36
Our Statutory documents are :
 
 
Last Updated on Monday, 04 March 2013 10:30
 
Contact Us PDF Print E-mail
Written by Administrator   
Tuesday, 26 August 2008 08:00
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Last Updated on Tuesday, 25 October 2011 10:11
 
FINANCIAL INSTITUTIONS PDF Print E-mail
Written by Administrator   
Sunday, 22 June 2008 17:51

Financial Institutions supervised by Central Bank of Somalia.

  • Commercial Banks
  • Forex Bureau
  • Credit Institutions
  • Insurance Companies
  • Money Remittance Companies
Last Updated on Wednesday, 30 January 2013 17:56
 
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