Last month, Banque pour le Commerce et l’Industrie-Mer Rouge Chief Executive Officer Ould Amar Yahya held talks with the government about obtaining a license, according to Saad Moussa Djama, BCI’s representative in Somaliland. The lender, based in Djibouti, has had a representative office in Hargeisa since February 2009.
The bank “expects to obtain a full licence immediately after the Commercial Banking Act is passed,” Djama said in an interview on Nov. 21.
CAC Bank, a state-owned Yemeni lender, and Dahabshiil, the Dubai-based money-transfer service, have also contacted Somaliland’s central bank about establishing a presence in the country, Governor Abdi Dirir said in an interview on Nov. 21.
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