Oodweyne News - Latest Somali News Update

Failed Somaliland Foreign minister Sa’ad Ali Shire who is one of the two CEO’s of the notorious Somaliland Investment Limited company is appointed by his cousin colonel Muse Bihi Abdi as Somaliland finance minister. The wealthy Somaliland Kulmiye party elite maybe evade taxes , steel Somaliland taxpayers money and launder money through new company ” Somaliland Investment Company Limited ” this smells and sounds like a ” shell company “.

One of the most important tools to evade taxes and launder money is a “shell company” – this is a company that exists only on paper and has no office and no employees. It’s usually registered to the address of a company that provides a service setting up shell companies in a tax haven.

For example, that’s why five-storey building in the Cayman Islands supposedly houses more than 12,000 corporations.

Ambassador Bashe Awil Omar said in his last television interview that ” Somaliland Investment Company Limited ” is established in an English-speaking jurisdiction that has British law which makes clear that this ” shell company ” existed long time in one of tax haven British islands but now will start trading in Dubai financial markets … they will issue one Dollar shares but the company’s capital isn’t clear they are expecting the aid money of Somaliland development funds ( DFS ) and USAID to be uitilized as capital for the company in the near future ……….. we wish we can short sell their shares

We The People to International community ,— “shell companies ” Secrecy is a key element to foster money laundering, financial criminality and also tax avoidance. We need laws and coordination, that guarantee transparency in the future – and we have to protect the whistle blowers like former Hargeisa local government secretary , when they expose the wrong doings at present and in the future.

We need strong and binding Somaliland rules on this matter. A Somaliland and international approach is necessary in many of these areas as criminals who steal aid money know no borders and benefit from uncoordinated actions. There is a need to step up our efforts in the fight against economic criminality in order to move towards the Somaliland citizens expect and deserve.

Was soll das heißen?

Ahmed Jigga