Tag: Central Bank

The former British Somaliland Protectorate achieved full independence from the United Kingdom on 26 June, 1960. On 1 July, 1960, the state of Somaliland united with Somalia, a territory under a U.N.- mandated Italian Trusteeship until that same day, thereby creating the Somali Republic. The Republic of Somaliland restored its independence after the total collapse of Somalia on 18 May 1991 as a result of the civil war of the late eighties and early nineties. The decision was made by the Congress of Council of Clan Elders held in Burao from 27 April to 15 May, 1991. Constitutionally, the Republic of Somaliland is a democratic country with a multi-party system.