Select Countries and Regions

Somalia

Somalia National Payment System

Scheme name: Somalia National Payment System

IIPS Type: Bank

Inclusivity level: Not ranked

Year of establishment: 2021

System owner: Central Bank of Somalia

Overseer: Central Bank of Somalia

Operator: Central Bank of Somalia

Total Participants: 8

Volumes 2022: 213,867

Values 2022: 386,889 USD

Back to map
CategorySomalia National Payment System
Geographic reachDomestic
Geographic descriptionSomalia
Scheme governanceCentral Bank of Somalia
Settlement agentCentral Bank of Somalia
Participants - commercial banks8
Participants - MMOs0
Participants - non-bank PSPs0
Participants - MFIs0
Volumes 2018-
Volumes 2019-
Volumes 2020-
Volumes 2021439,901
Values 2018- USD
Values 2019- USD
Values 2020- USD
Values 2021580,392 USD
GNI7,585,987,106
GNI (%)0.01%
% off-us transactions
Interoperability arrangementThird party
Ownership modelRegulator-owned
Governance TypologyCentral bank
Messaging standardN/A
Types of proxy IDsNo
Use of open APIsN/A
QR code standard N/A
Pro-poor governanceNo
CB governance involvementYes
Expanded use CasesNo
Minimum channel functionalityNo
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo
TSP partners N/A
Start-up funding (US$ million) N/A

African IPS Map

Selected Country
Live IPS
IPS in development
No data
Select region to view data