HARGEISA – The Central Bank of Somaliland has announced a mandatory renewal of operating licenses for all foreign exchange bureaus under its regulation. This move is in direct implementation of the new Foreign Exchange Management Regulation (No: 03/2024), which comes into effect on Saturday, October 18, 2025.
Concurrently, the Central Bank has opened the door for new market entrants. Starting the same day—October 18, 2025—its regional branches nationwide will begin accepting applications for new foreign exchange bureau licenses.
This licensing process for both new and existing bureaus will be governed by the stipulations of the Central Bank Law (No: 54/2012, Articles 4, 69, 74, and 75) and the new Foreign Exchange Management Regulation (No: 03/2024, Section 2).
