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Somalia Central Bank warns citizens over forex investment


The Central Bank of Somalia has issued a warning to the Somali people that invest Forex market.

According to a statement issued by the Central Bank of Somalia, the Forex online market can turn major losses to the public. The Central Bank of Somalia has come to the forefront in recent days after being received continues complains from Forex companies in Mogadishu

Large numbers of people who have invested in Forex companies have suffered financial theft made by one of the Forex Company in Mogadishu. Also, the Bank notes that there is no Forex online company that has a license given by the Central Bank of Somalia.

The Bank protocols of monitoring the country’s financial system, Safeguarding financial market stability and protecting the property of citizens it again warns the public and the business community against Forex market and not trust their assets with their financial services without the consent of the Central Bank of Somalia.

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