Regulatory Alerts2025-07-18
Added · Updated
CBS Opens Licensing Process for Non-Deposit Taking Microfinance Institutions
The Central Bank of Somalia has launched the licensing process for Non-Deposit Taking Microfinance Institutions following the enactment of the Financial Institutions Law. The new regulation establishes clear requirements for licensing, governance, and capital adequacy to ensure responsible operation under central bank supervision. Institutions are invited to submit applications within six months of the regulation's effective date to benefit from enhanced credibility and integration into the formal financial system.
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