BOSASO– Somalia’s Central Bank held a 5-day training focusing on Anti-Money laundering, Mobile Money Regulation and Institutional Development Plan for Mobile Money Service Providers in the commercial town of Bosaso in the Puntland State.

According to the Bank, the training is aimed at promoting and fostering financial stability and compliance in the country.

1/2 The Central Bank of Somalia @CentralBankSo has held 5-days training of Anti-Money laundering, Mobile Money Regulation and Institutional Development Plan for Mobile Money Service Providers in #Bossaso. pic.twitter.com/H1zcqkemUG

— Central Bank of Somalia (@CentralBankSo) July 26, 2023

The Bank underscored that Mobile Money has systemic importantance for the Somali economy and the bank is keen to strengthen oversight and support of this critical service to the public.

Somalia a country reeling from decades of civil war has in recent days beefed up its institutional growth and curbing of corruption and embezzlement of public funds in a bid to enhance service delivery to the common citizens.