Central Bank of Somalia

Somali Shilling

Http://www.somalbanca.org/

Cassa per la Circulazione Monetaria della Somalia Banca Nazionale Somala

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The Somali Central Bank ( Somali: Bankiga Dhexe ee Soomaaliya ) was from 1960, the Central Bank of the State of Somalia.

History

It was founded after the country gained independence on 1 July 1960 as Banca Nazionale Somala to take over the existing activities of the Cassa per la circolazione Monetaria della Somalia and was founded on November 15, 1920 branch of the Banca d' Italia in Mogadishu. The new bank combined the activities of a central bank, and commercial banking activities.

1968, the government merged the Somali Bank Credito Somalo who had the trusteeship Italian Somaliland in 1954, with the Banca Nazionale Somala.

In 1971, the 1969 came to power in government Siad Barre, the Somali Savings and Credit Bank ( Somali Savings and Credit Bank), which took over the commercial branches of Banca Nazionale Somala and the Credito Somalo, bringing the Banca Nazionale Somala now alone perceived central bank tasks. Had the Somali Savings and Credit Bank offices in Baidoa, Beledweyne, Berbera, Boosaaso, Burao, Gaalkacyo, Qardho, Hargeisa, Kismayo and possibly also at times in Djibouti.

On 8 February 1975, the government renamed Banca Nazionale Somala in Somali Central Bank ( Bankiga Dhexe ee Soomaaliya ). The Government also incorporated the Somali Savings and Credit Bank and the Somali Commercial Bank ( Somali Commercial Bank ) for single commercial bank Somalia.

It is unclear to what extent the Somali central bank has been active since the collapse of the government and the beginning of the Somali civil war in 1991; there is no website, and news about the Bank are rare. Banknotes Somali Shilling were printed in Somalia during the civil war on a large scale illegal.

The transitional constitution of the transitional government of Somalia from 2004 provides for the establishment of a central bank.