Regulatory Alerts2025-09-13
First Schedule – License Application and Declaration
The Central Bank of Somalia issues this First Schedule to standardize the application and declaration process for non-depository microfinance institution licenses. Applicants must verify submission accuracy, confirm active compliance and risk management frameworks, and secure authorization from senior management or the board. The declaration empowers the regulator to conduct ongoing due diligence and background checks, with false statements or undisclosed irregularities subjecting the license to denial or revocation.
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