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Global Trade Alert

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Somalia: Central Bank approves banking licenses to two International banks

Description

On 3 July 2022, the Central Bank of Somalia issued licenses to two international banks for the first time. The two banks are Egypt’s Banque Misr and Turkiye’s Ziraat Katilim.

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Intervention Details

Intervention Type

FDI: Entry and ownership rule

MAST Chapter

FDI measures

Implementation date

03 Jul 2022

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

firm-specific

Affected Trading Partners

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Affected Products

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