Central Bank of Somalia Closes Forex Broker Accounts - CryptoVibes
Central Bank of Somalia Closes Forex Broker Accounts - CryptoVibes Central Bank of Somalia Closes Forex Broker Accounts - CryptoVibes Posted: 26 Dec 2019 07:38 AM PST The central bank of Somalia recently ordered commercial banks in the country to close accounts related to forex brokers . It has also asked banks to provide details of these accounts as well as the amounts they hold. No explanation by the regulator The Somali central bank didn't provide the reasons behind its orders. It also didn't reveal how many accounts of forex companies were affected because of its decision. However, local media outlets claim that the regulator has given several warnings about foreign exchange trading in the past, and its recent actions fall in line with its stance. Mogadishu regulators are trying to wipe out the forex brokers from their markets. The country's economy is struggling to survive, but forex brokers continue to chase the g...