LICENSING & SUPERVISION DEPARTMENT - Central Bank Of Somalia
Upon receipt of an application for registration the licensing and supervision department shall, within fourteen days, review the application and make recommendations, on the application, to a committee of the central bank after ascertaining the formal content and completeness of information and document requirements under Regulation.
Licensing Procedure - Central Bank Of Somalia
All applications for a banking business license must be supported by a business plan including, among other things, a description of the activities to be conducted by the proposed bank, its organizational structure and any other information and documents that the CBS may require.
An application for bank license shall be made in writing in the form prescribed by the Central Bank in a Schedule to this Regulation. The application must be accompanied by all required supporting information and documents, and the prescribed application fee. 3.4.
LICENSING & SUPERVISION DEPARTMENT - Central Bank Of Somalia
The Licensing and Supervision department grants all CBS licenses to financial service providers in Somalia and provides supervision to ensure the service Vacancies & Tenders Vacancies
Laws and Regulations – SBA: Somali Bankers Association
Kenya’s central bank approves 62.5% acquisition of FCB by Somalia’s Premier Bank
This regulation applies to all persons licensed by the Central Bank to engage in banking business in Somalia. The requirements of this regulation apply to each bank individually, and on a fully
Understanding Banking Regulations and Licensing Requirements in Somalia
2024年11月28日 · Once these documents are prepared, the applicant must submit them to the Central Bank of Somalia (CBS). The submission should be accompanied by a formal application letter, outlining the bank’s intended operations and any services it aims to provide.
The central bank shall create and maintain a register, to be known as the Register of Registered Money Transfer Businesses, in which shall be entered the particulars of all registered money transfer businesses and the registration certificates they hold
Permits and Licenses Required to Start a Business in Somalia
2024年6月7日 · Before launching your business in Somalia, you need to complete the following registration procedures: Company Registration: Register your business with the Ministry of Commerce and Industry to obtain a Business Registration Certificate. Tax Registration: Register for taxation with the Ministry of Finance to obtain a Tax Identification Number ...
This regulation is made by the Central Bank pursuant to its authority set forth in Sections 38(1) and 52(1) of the Central Bank of Somalia Law, 2011, and Section 34 (Supervisory Standards) of the Financial Institution Law, 2014 (“FIL”), for the purpose of …
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