(1) A law passed by the Federal Parliament shall establish the Federal Central Bank of the Federal Republic of Somalia.
(2) The Federal Central Bank of the Federal Republic of Somalia shall be responsible for formulating and implementing financial policies and monetary policies and all the banks shall abide by the regulations set by the Federal Central Bank.
(3) The main functions of the Federal Central Bank of the Federal Republic of Somalia are to: (a) Produce currency;; (b) Control inflation;; (c) Stabilize exchange rates;; and (d) Establish a sound banking system.
(4) The financial policy shall be based on the market forces and lending shall not be based on administrative decisions.
(5) The Federal Central Bank of the Federal Republic of Somalia has full authority to execute the monetary policy.
(6) The Federal Central Bank is the National Reserve Bank