Somali parliament outlaws money withdrawals from Central Bank without their approval
Somali parliament speaker Prof Mohamed Osman Jawari said today, there would be no withdrawal transactions in the central bank of Somalia unless the parliament finance committee approves it.
Addressing the Somali parliament meeting on Saturday, Prof jawaari stated they will send written statement to the Central Bank authorities on 01-April, requesting the bank not to issue any money withdrawal without passing the parliament’s committee for the public finance.
“It is the asset of the people of Somalia that is deposited in the central bank while the parliament of Somalia represents the people and no money can be withdrawn without the approval of the parliament.” Said Prof Jawari.
The parliament of Somalia vowed earlier to increase their supervision on the transactions of the central government of Somalia since corruption allegations have come up severally but this act is the first of its kind, banning money withdrawal from the central bank without the authorization of the people’s representatives.