Central Bank of Somaliland introduced a new policy

The Central Bank of Somaliland has introduced a new policy to strengthen the monitoring of the amount transaction of money in the banks.

People and companies are not allowed to deposit or withdraw money more than a total of $ 10,000 to prove the availability of the agreement by filling in a form of identification.

Government agencies are also charged to work closely with the central bank to fulfil the obligation.

Policies the Somaliland government has adopted under President  Bihi turns attention to what Hargeisa looks upon as external threats. Those challenges range from a sovereignty dispute with Mogadishu to a territorial dispute with Puntland.

It is easy to regard the economic policy of the Somaliland government as a continuation of the ruling party’s policies under President Silanyo.  Inflation poses a challenge to Somaliland economy. The previous government regulated mobile money transactions to deal with inflation.

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