Hornpost
Bank of Somaliland Clarifies Position on E-Visa Payment Dispute, and warned against creating financial problems through manipulation.
The Central Bank of the Republic of Somaliland has called on the public to protect the reputation and stability of banks and financial institutions.
Hargeisa, (Hornpost) The Central Bank of the Republic of Somaliland has issued a statement reaffirming its constitutional mandate to regulate and oversee the nation’s financial system in accordance with the Central Bank Act No. 54/2012.
The Bank emphasized that it serves as the national authority responsible for licensing, supervising, and monitoring all financial service providers in Somaliland, ensuring stability, legality, and transparency in the country’s financial operations.
Over the years, the Central Bank has maintained economic stability and prevented financial crimes that could undermine the integrity of Somaliland’s monetary system. This stability has allowed banks and other financial institutions under its supervision to expand operations both domestically and regionally, with branches in neighboring countries such as Somalia, Djibouti, Kenya, and Ethiopia.
Addressing recent public discussions on social media regarding the transfer of e-visa fees related to Somalia’s newly introduced online visa system, the Bank clarified that:
“The e-visa payment agreement was made in Somalia and is processed through an international payment gateway that can technically connect to any bank. The Premier Bank operating in Somaliland is not involved or role in this transaction and functions strictly under the financial laws of the Republic of Somaliland,” the statement said.
The Central Bank also urged the public and media to exercise caution and avoid spreading unverified claims or politically motivated accusations that could damage public trust in the national financial system. Any legitimate complaints or suspected offenses, it said, should be referred to by the relevant legal authorities.
Reaffirming its commitment to financial integrity and transparency, the Bank noted that it is working on new regulatory frameworks to clearly distinguish financial institutions operating within Somaliland from those based in neighboring states.
The statement concluded by calling on citizens, businesses, and the media to handle financial matters responsibly and in the spirit of national unity, to safeguard confidence in Somaliland’s economy both at home and abroad.
Press release — Central Bank of the Republic of Somaliland.
Prepared:
Hornpost staff Reporter
Hargeisa Somaliland
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