Puntland has launched the State Bank of Puntland.
President Said Abdullahi Deni launched the State Bank of Puntland on August 1 in a colorful ceremony attended by various stakeholders.
During the ceremony, President Deni said that the bank’s key responsibility would be to manage the region’s finances.
Apart from that, Deni also mandated the bank to provide banking policy and regulations.
He also announced that the newly established bank would guide private banking and financial institutions.
President Deni informed the public that his administration would introduce the Treasury Single Account from August 1.