On 1 July 1960 the former Italian Somalia merged with the State of Somaliland, still under British jurisdiction, to form the fully independent Republic of Somalia. In this perspective, the government of the former Italian Somalia, led by Abdullahi Issa Mohamud, established the "Somali National Bank" (decree of 30 June 1960): the new bank would have carried out the central bank activities, previously done by the "Cassa for monetary circulation". Indeed the Italian government provided Somalia with technical and financial assistance and ordered the liquidation of the "Cassa".