In September 2015, the U.S. Department of State’s Bureau of Counterterrorism (CT) awarded the Financial Services Volunteer Corps (FSVC) a 2-year grant to help strengthen the financial sector in Somalia and its ability to intermediate effectively financial flows.  FSVC’s program aims to support the Central Bank of Somalia (CBS)’s efforts to address the critical financial sector reforms to adhere to the recommendations of the Financial Action Task Force (FATF), and allay concerns of international regulatory bodies.  To do so, FSVC will provide support to the CBS as it puts in place fundamental aspects of the financial sector regulatory framework, structure and systems to enable the critical flow of remittances to Somali citizens.

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Program Impact