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Re-introducing the Somali Shilling in Beledweyne

Where in the world have people abandoned paper money entirely? It is not Silicon Valley and not Singapore but, of all places, Beledweyne, the capital of Hiiraan region of Somalia. Since November 2017, the Somali Shilling has not been used in Beledweyne. Mobile money and hard currency US dollars are the only acceptable modes of payment in the market. Although the understanding and literacy of the majority of the residents in using mobile money is low, the community in Beledweyne have no other option but to use mobile technology and US dollars for daily transactions. The EVC Plus Service of Hormuud Telecommunications Company and E-Dahab of Somtel Telecommunications Company provide the only acceptable electronic money in the city. Read more

Dib-usoo-celinta isticmaalka Shilinka Soomaaliga ee magaalada Beledweyne

Halkee dunida kamid ah oo ay dadku gebi ahaanba iska joojiyeen isticmaalka lacagta warqadda ah? Ma ahan Silicon Valley mana ahan Singapore, laakiin waa Beledweyne, magaalo madaxda gobolka Hiiraan ee Soomaaliya. Lagasoo billaabo bishii Nofeembar ee sanadkii 2017, lacagta Shilin Somaaliga lagama isticmaalin Beledweyne. Lacagaha moobilka lagu qaato iyo lacagta adag ee doollarka Mareykanka ayaa ah lacagta kaliya ee la oggol-yahay in wax lagu kala iibsado suuqyada. Inkastoo fahamka iyo aqoonta dad badan oo deggan magaalada ay u leeyihiin isticmaalka lacagaha moobilka ay aad u hooseyso, haddana bulshada Beledweyne ma haystaan wax ikhtiyaar ah oo aan ahayn in ay lacagta lagu qaato moobilka iyo doollarka Mareykanka u isticmaalaan wax kala iibsiga maalinlaha ah. Adeegga EVC- Plus ee Shirkadda Isgaarsiinta Hormuud iyo adeegga E-Dahab oo ay leedahay Shirkadda Isgaarsiinta Somtel ayaa ah lacagaha electroniga ah ee magaalada laga isticmaalo. Read more

Is it the time to print a new currency for Somalia?

The Federal Government is planning to print a new currency for Somalia. In early June 2018, the Minister of Finance of the Federal Government of Somalia introduced the design of 5,000 and 10,000 Somali Shillings. A press conference held by the governor of the Central Bank of Somalia in late June 2018 further elucidated the division of the currency. The governor stated that the currency will consist of 1,000, 2,000, 5,000 and 10,000 Somali Shillings. Read more