Somalia Passes National Payment Laws

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Somalia’s Upper House has passed the National Payment System Bill, strengthening regulation and oversight of the country’s digital and electronic payments sector. Lawmakers said the legislation will improve transaction security, interoperability, and confidence in financial services. During the same session, officials noted that worsening drought conditions are increasing economic pressure on households and markets, underscoring the importance of resilient payment systems to support aid distribution, business continuity, and financial access nationwide.