Duba , UAE, November 20, 2006 – Dubai’s highest court has acquitted a Somali man of counterfeiting charges. The man who claimed to have been appointed by the Somali interim government to import the newly printed Somali currency worth 150 billion shillings, was acquitted due to insufficient   evidence. The 39 year old man, named S.A., also holds a Canadian citizenship.

1000 Shilling Fake Somali Banknotes

Evidence against him include 1000 Shilling banknotes which criminal forensic labs found were carrying the same serial number.

One of the reasons for acquitting him, said the judge, was the fact that the suspect had no intention to circulate the money in Dubai.

The suspect's lawyer, Bader Mohammad Al Gurg, said "The money was being printed in Singapore and the Somali government assigned S.A. to re-export it to Somalia via Dubai."

There is no central bank to oversee or keep inflation records in Somalia, and the majority of Somalis see printing and distribution of currency by any entity as a criminal act but they are powerless to intervene. The so called interim government, and various warlords, politicians and businesses each print and distribute Somali currency without authorization in order to gain economic and political leverage against the other.

Within the days and weeks that follow the circulation of freshly printed currency, the effect is felt throughout the bustling markets in main cities and towns in Somalia, with basic food prices shooting sky high.

Source: Somaliland.Org Dubai, UAE