Mogadishu, Somalia — The Central Bank of Somalia has announced a critical policy shift requiring all new bank account openings in the Banadir Region to be supported by a valid National ID issued by the National Identification and Registration Authority (NIRA), effective September 1, 2025.
This new directive aims to enhance the country’s electronic Know Your Customer (eKYC) framework and bolster efforts to prevent money laundering, identity fraud, and other illicit financial activities.
In a statement issued Thursday, the Central Bank emphasized that the measure is part of a broader strategy to build a secure, transparent, and inclusive financial system in line with international regulatory standards.
“The requirement for a NIRA-issued National ID ensures a uniform and verifiable identity standard across financial institutions. It is a vital step in strengthening customer verification, improving risk management, and fostering public trust in the banking sector,” the Central Bank noted.
The policy will apply to all commercial banks and licensed financial institutions operating within the Banadir Region, which includes the capital Mogadishu and its surroundings.
Officials say this move supports Somalia’s transition toward a digital economy and aligns with the government’s ongoing implementation of its National Digital Identity Program.
Existing account holders are not immediately affected, but the Central Bank encouraged all citizens to register with NIRA to avoid future disruptions and to take advantage of digital financial services that require verified identities.
This announcement follows a series of reforms introduced by the Central Bank aimed at improving compliance, financial transparency, and economic stability amid growing domestic revenue and digital transformation efforts across Somalia.