Garowe (KAAB TV) – The Puntland government has announced plans to establish an anti-money laundering agency in the near future.

President Saeed Abdullahi Deni made the announcement during a meeting with businessmen from the Bari region in Bosaso today. He revealed that the administration will soon implement an organization dedicated to preventing illegal money laundering, which has been associated with terrorist groups like ISIS.

“Soon, an organization will be established to combat illegal money laundering,” said President Deni during his address to the Bari region businessmen. He emphasized that terrorist organizations often exploit money laundering channels for illicit activities.

In his remarks, President Deni also reassured the businessmen of the Bari region that ISIS militants, who had been extorting money from local businesses in Bosaso—commonly referred to as “Sakawad”—have been defeated.