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Somaliland Central Bank governor refutes Somalia claim

The governor of the central bank Mr. Abdi Dirir Abdi has refuted the claims of a Mogadishu based financial house that purported it to be opening branches in Somaliland.

According to Reuters, the so called International Bank of Somalia (IBS) was to open services in Somaliland and at the same time sell its shares to the members of the public. It quoted a Hassan Yusuf as making the claims.

In a probe to follow up the reports by our sister paper Dawan, the country’s central bank governor denied any knowledge of the financial institution’s claims.

“At no time whatsoever have we licensed such an entity”, said Gov. Dirir.

He added in the same breath, “No communications on the issue have we made with them and neither have they requested such permission from us”

The report said that the so called IBS was a liability company.

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