Somalia: Who runs new banknote factory in Puntland?


GAROWE ONLINE EXCLUSIVE: Puntland government in northern Somalia installed controversial printing plant in Bossaso port city to quell growing frustration over its mishandling of local economy, and souring anger of civil servants and security forces. Why did parliament not speak out against new cash factory? –and; who, in the government, partially runs the plant?—below is a special report by Garowe Online Investigative reporters.

Puntland Members of Parliament have chosen to remain silent on counterfeit shillings printed in Bossaso Port City, however Garowe Online has learned that first deputy speaker of parliament Abdihamid Sheikh Abdisalam owns considerable share in the amounts produced on authorized basis.

Abdisalam offered President Abdiweli Mohamed Ali and investing businessmen consultations on procurement, installation and commissioning of production machinery and components of cash factory in advance.

Sources familiar with the matter further disclosed that Deputy Parliament speaker receives a percentage for counterfeited shillings. At the beginning of the year, 2015, Abdisalam accompanied President Ali on a visit to the United Arab Emirates (UAE) where he held secret discussion on ideal configuration of production machines with Indian experts.

Parliament Speaker, Saed Hassan Shire whose Galkayo trip was thought to have related to the inauguration of Jubaland President Sheikh Ahmed Mohamed Islam (Madobe), focused more on the legal sanctions of new banknotes in talks with the president.

Abdihamid Sheikh Abdisalam, former businessman was for the first time vetted to the parliament in 2009-and during 2014 elections, he became deputy speaker of parliament.

He worked with former President Gen. Mohamud Musse Hirsi(Adde Musse) on ill-favored printing plot that led to the worst inflation since Puntland’s formation in 1998.

Religious scholars led by late Sheikh Abdulkadir Nur Farah took part in the closure of note printing factory at last.

On the other hand, pressure continues to mount on lawmakers in the state’s 66-seat-chamber, with some MPs earlier on lured into silence.

Somalia’s Central Bank Governor, Bashir Isse Ali has deemed Puntland’s new banknotes ‘unethical move’ aimed at soliciting money from domestic businesses.

Garowe Online will continue writing about behind-the-scenes individuals [from government, civil society and business community] in objective tone. 


Somalia: Spurious banknotes paid to Puntland Govt employees, troops 
Somalia: Central Bank criticizes Puntland over counterfeit currency
Somalia: Counterfeit Shillings circulated in Puntland economy


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