A statement from the Ministry of Finance of the Somali Government stated that a meeting was held by the Minister of Finance of the Somali Government, accompanied by the Governor of the Central Bank of Somalia, the Finance Committee of the Somali Parliament, and a committee representing Somali scholars.
This committee, which consisted of Somali scholars, recently told local media that they were deeply concerned about several provisions in the National Finance Act that is before Parliament, which prompted the Minister of Finance and the Governor of the Central Bank to sit with this committee.
The purpose of the meeting was to inform Somali scholars about the provisions of the National Financial Institutions Act, Law No. 130, which was issued on April 22, 2012.
During the meeting, the Finance Committee of the House of the People, accompanied by the Ministry of Finance and the Central Bank of the country, as well as Somali scholars, agreed to harmonize the principles of Islamic law with the interests of the Somali nation.
Minister of Finance Bihi Imaan Cige said that the Financial Institutions Act is a pre-existing law but has now been amended, pointing out that this law has gone through various stages and that the recommendations of Somali scholars are important to consider.
