In Wednesday’s session, Somalia’s federal parliament took a significant step forward by approving amendments to the Anti-Money Laundering and Terrorist Financing Law.
This move aims to enhance the country’s ability to tackle financial crimes and align with international standards, reflecting Somalia’s commitment to addressing these critical issues.
Strengthening such legal frameworks is essential for improving financial transparency, fostering international cooperation, and rebuilding trust in Somalia’s financial systems.
This development could also positively impact the country’s efforts to secure foreign investment and improve its global standing in the fight against illicit financial activities.