The Central Bank of the Republic of Somaliland has clarified that Premier Bank Somaliland is not involved in Somalia’s e-visa fee collection system.
In a press release, the bank stated that the e-visa agreement for Somalia was signed in Somalia and uses an international payment gateway accessible to any bank. Premier Bank operates solely under Somaliland’s financial laws.
The statement comes amid social media debates over alleged illegal transfers of e-visa fees, linked to ongoing airspace disputes between Somaliland and Somalia.
The Central Bank warned against unsubstantiated accusations, urging citizens to report crimes to authorities. It reaffirmed its commitment to financial stability and plans to distinguish Somaliland-based institutions from those in neighboring countries.
Citizens, businesses, and media were called on to handle financial matters responsibly to maintain public and investor confidence.
PRESS RELEASE
The Central Bank of the Republic of Somaliland is the national institution entrusted with the supreme authority and management of the country’s financial system, as stipulated in the Central Bank Law No. 54/2012 under which it was established. It is the national body primarily responsible for safeguarding the legal framework governing the financial system of Somaliland, and it is also tasked with licensing, regulating, and supervising all financial service providers in the country.
During its existence, as its legal powers and operational expertise have matured, the Central Bank has successfully prevented financial instability and crimes that could jeopardize the smooth functioning of the nation’s economic system. This has enabled the banks and other financial institutions under the Central Bank’s oversight to achieve financial growth and expand their service operations. Some of these companies and institutions have branches and subsidiaries in neighboring countries and the region, including Somalia, Djibouti, Kenya, and Ethiopia, operating under the same names or different ones, in compliance with the laws of the countries where they are registered.
Recently, political disputes have arisen concerning the management of Somaliland’s airspace with Somalia, instigated by the weak government of Somalia. The Government of Somaliland has appointed a national-level committee to resolve these issues, which has issued decisions to secure Somaliland’s sovereign control over its airspace and to complete the process of assuming full authority.
These disputes have sparked discussions on social media regarding the illegal transfer of e-visa entry fees imposed by Somalia.The Central Bank of the Republic of Somaliland, acting in fulfillment of its constitutional duties and to prevent harm to public confidence and the orderly operation of the country’s financial system, hereby informs the people of Somaliland that the agreement for collecting e-visa fees for entry into Somalia, as well as the payment gateway used, is an international system that any bank can connect to.
The e-visa service agreement for Somalia was entered into in Somalia, and Premier Bank Somaliland has no role in this matter. It operates in full compliance with the financial laws and regulations of Somaliland.
Accordingly, we warn citizens who post on social media and the media in general to refrain from making unsubstantiated accusations. Anyone aware of a crime should report it to the relevant law enforcement authorities, in order to protect national dignity, uphold the rule of law, and prevent damage to confidence in the country’s financial system.
The Central Bank of the Republic of Somaliland reiterates its unwavering commitment to preserving the integrity, stability, and transparency of the nation’s financial system, while pursuing plans to clearly distinguish financial institutions operating in Somaliland from those in neighboring countries.
We urge all citizens, businesspeople, and the media to address financial system-related matters with responsibility and national patriotism, which will help strengthen the trust that citizens and foreign investors place in our financial system.