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| Home » Central Banks Worldwide » Bank of Somaliland | ||||||||||||
Bank of Somaliland |
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One of the provisions of the National Constitution of the Republic of Somaliland is the establishment of a Bank to carry out Central Banking functions. The Bank of Somaliland (Baanka Somaliland) was thus inaugurated in 1994 together with appropriate Banking Laws, to insure that Banking regulations are carried out to the letter. |
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Board of Directors has accordingly been appointed together with a Governor of the Bank, Vice-governor, and a Director General. In addition, the Bank of Somaliland besides its functions as Central Bank, runs the activities of Commercial sector.
The Bank's main objectives are
detailed in Article 3 of the Constitutive Law of Somaliland Bank as follows:
The Bank of Somaliland performs both the functions of Central Bank of the Republic of Somaliland and the Services of the Commercial Bank. Bank of Somaliland was also given the responsibility of establishing the discount rate and intervening to control interest rates. Contact Information: Tel: +252 213 4500 |
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maintain
price and exchange rate stability;