The Central Bank of Somalia (CBS) and the National Communications Authority (NCA) are to start regulating the digital financial services in the country.
This follows a Memorandum of Understanding (MoU) that the two institutions signed on November 23.
Details of the agreement, which was signed in Mogadishu, shows that CBS and NCA are interested in making the digital financial services safe and secure for all Somalis.
Additionally, the agreement allows the Central Bank and the communications body to regulate mobile money services too.