As Somaliland’s government restricts mobile payment Opposition party says it will hurt the low-income families

[Deeq A.]

By: Ahmed Abdi

HARGEISA–(Somaliland Informer)–As Somaliland aimed at to rein in inflation, an opposition party warned on Saturday that the government’s steps to restrict the Mobile Money Transfer service will hurt the low-income families that live in remote areas and the cities.

The government wants people to use Somaliland shilling instead of digital currency and says less than $100 cannot be transferred via mobile.

“Communities of low-income families use mobile money transactions to pay their bills and services will cause serious damage to Somaliland’s financial situation, Ismael M. Hurreh a senior member of the Wadani Party and  Somaliland’s Former Minister of Finance.

“People in cities and villages adopted the digital payments and any rules restricting mobile payment will impact both their lives and the economy,” he said.

Hurreh said the people could transfer an amount of money between five to 30 U.S dollars to their families in rural areas and may not afford to transfer $100 at once and the move will only help the rich ones.

President Muse Bihi Abdi vowed that he will do everything to make sure Somaliland’s currency-stability amid Somaliland’s shilling against the rising dollar.

Somaliland is not an internationally recognized state and its Central Bank relies on money transfer companies, such as Dahabshiil that help families to receive in remittances from Somaliland’s expats around the World.