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State Bank Of Puntland
The State Bank of Puntland () is the central bank of the Government of Puntland, an autonomous region of Somalia, and was established in 1998. The bank operates nine branches across the regions of Puntland, with its headquarters located in the capital city of Garoowe, Garowe. The current Governor of the bank is Abdirisak Warsame Serar. Overview Since its establishment in 1998, the State Bank of Puntland has served as the backbone of Puntland’s financial system, driving economic growth and ensuring financial stability throughout the region. Headquartered in Garoowe, with nine strategically located branches branches, including those located in Bosaso, Galkayo and Qardho, SBP has expanding its financial services. The company employs around 200 staff members, including 90 at its headquarters. The bank is governed by Abdirisak Warsame Serar, with the General Director being Khadar Ugaas Abdi. Regulation The bank relies on the financial regulations and legislation of the Government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Somalia
The Federal Government of Somalia (FGS; , DFS; ) is the internationally recognised government of Somalia, and the longest running attempt to create a central government in Somalia since the collapse of the Somali Democratic Republic in 1991. It replaced the Transitional Federal Government (TFG) of Somalia on 20 August 2012 with the adoption of the Constitution of Somalia. It officially comprises the executive branch of government, with the parliament serving as the legislative branch. It is headed by the President of Somalia, to whom the Council of Ministers reports through the Prime Minister. After the collapse of the Somali Democratic Republic in 1991, there were no relations between the government of Somalia and the Somaliland government, which declared itself an independent country. Background In 1991, the collapse of the Somali Democratic Republic amid the outbreak of the Somali Civil War left the country without a central government. Over the following decade, numerous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1998
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Puntland
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
