People walk outside Somalia's central Bank in Hamarwayne district, south of capital Mogadishu
By Shafi’i Mohyaddin
Sunday, March 30, 2014
MOGADISHU (HOL) - To prevent misuse or embezzlement, the federal government of Somalia has officially outlawed cash withdrawals from the central bank without parliamentary consent.
The decision was announcement by Somali Parliament Speaker Mohamed Sheik Osman Jawaari during an address at the parliament meeting on Saturday.
“Any cash withdrawals from the central bank without having a written approval from the financial committee of the federal parliament of Somalia will be illegal,” the speaker Mohamed Sheik Osman Jawari told a parliament meeting on Saturday.
The speaker said he will write to the authorities of the central bank to inform them that from April 1st 2014, there will be no cash withdrawals from the bank without consent from the federal parliament.
“All riches in the central bank or any other governmental deposits belong to the people of Somalia and the council of parliament is responsible for the people, so I announce that no money will be withdrawn from the central bank from the mentioned date,” Mr. Jawaari noted.
Meanwhile, the speaker said that the federal parliament of Somalia will work harder to ensure free and fair presidential election in the country by the year 2016.
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