Finance Minister spoke of the new Somali currency
January 3, 2012 Markacadeey
Finance and Planning minister Mohamoud Hassan Saleban has for the first time
spoken of the new Somali currency being printed in Sudan following an agreement
signed in Khartoum early 2010 between the TFG and the Sudanese government.
In an exclusive interview with Bar-kulan, the minister said the printing of the
new Somali banknotes begun last year and continues for now, hopping that the new
currency will stabilise the country’s economy.
He said he has recently visited the Sudanese Company for Currency Printing which
is currently handling the printing of the Somali currency to inspect the ongoing
He expressed satisfaction with the printing process, saying that the new
banknotes contains unique security feature that cannot be fabricated by
The minister said the new currency cannot be reproduced by unauthorized people
or print similar banknotes, saying that it can easily be distinguished from fake
The new banknotes will be available in denomination of 1000, 2000, 5000, 10,000,
20,000 and 50,000 shillings. The current Somali Banknotes is available in only
Saleban said the government has not yet set a timeline in circulating the new
money as it has not finalised putting in place ways to effectively circulate it.
“Changing the old currency and replacing it with the new currency needs a lot of
preparedness”, said the minister.
Somalia signed an agreement with Khartoum government in January 2010 to print a
batch of new Somali currency.