Somalia has banned all gambling activities, with a particular focus on the online betting service 1XBET. The decision, announced by the National Anti-Money Laundering & Countering Terrorist Financing Commission (NAMLC) on November 16, reflects the government’s commitment to aligning financial practices with the nation’s religious beliefs and legal framework.
The prohibition of gambling, deemed contrary to Somalia’s cultural and religious ethos, marks a significant step in the government’s ongoing effort to curb illicit financial operations. 1XBET, identified as exploiting the Somali populace and violating national principles, has been declared an illegal entity.
Financial institutions, including banks and mobile money providers in Somalia, must disengage from any transactions related to 1XBET. Those already involved must cease all services, freeze relevant accounts, and report these measures to the Financial Reporting Center (FRC).
This directive follows earlier actions by the Somali government to attempt to ban platforms like TikTok, Telegram, and 1XBet, citing their role in spreading inappropriate content and misinformation.
FULL STATEMENT
Press Release:
National Anti-Money Laundering & Countering Terrorist Financing Commission (NAMLC) held its regular meeting at the Ministry of Finance on Thursday, November 16, 2023.
The NAMLC committee, in its ongoing efforts to combat financial crimes, issued the following decisions:
Gambling is prohibited throughout the Federal Republic of Somalia. This practice is contrary to our religious beliefs and national laws.
The committee has identified the emergence of a gambling service known as IXBET, which exploits the wealth of the Somali people. 1XBET violates our religious and legal principles and has negatively impacted the nation’s economy, social security, and overall safety. Therefore, it is deemed an illegal service.
All banks, mobile money service providers, and financial service entities operating in Somalia are hereby notified that they must not engage in or provide any financial services to individuals or companies associated with IXBET, which is prohibited in the country.
Banks and telecommunications companies that have already engaged with IXBET must immediately cease all services related to it, freeze any related accounts, and report these actions to the Financial Reporting Center (FRC).
