Dubai. As the reconstituted Central Bank of Somalia fully assumes its monetary policy responsibilities, some of the existing money transfer companies are expected in the near future to seek licenses so as to develop into full-fledged commercial banks. This will serve to expand the national payments system to include formal cheques, which in turn is expected to reinforce the efficacy of the use of monetary policy in domestic macroeconomic management. With a significant improvement in local security, Somali expatriates began returning to the country for investment opportunities. Coupled with modest foreign investment, the inflow of funds have helped the Somali shilling increase considerably in value. By March 2014, the currency had appreciated by almost 60% against the U.S. dollar over the previous 12 months. The Somali shilling was the strongest among the 175 global currencies traded by Bloomberg, rising close to 50 percentage points higher than the next most robust global currency over the same period. The Somalia Stock Exchange (SSE) is the national bourse of Somalia. It was founded in 2012 by the Somali diplomat Idd Mohamed, Ambassador extraordinary and deputy permanent representative to the United Nations. The SSE was established to attract investment from both Somali-owned firms and global companies in order to accelerate the ongoing post-conflict reconstruction process in Somalia. Energy and natural resources The World Bank reports that electricity is now in large part supplied by local businesses. Among these domestic firms is the Somali Energy Company, which performs generation, transmission and distribution of electric power. In 2010, the nation produced 310 million kWh and consumed 288.3 million kWh of electricity, ranked 170th and 177th, respectively, according to the CIA. Somalia has reserves of several natural resources, including uranium, iron ore, tin, gypsum, bauxite, copper, salt and natural gas. The CIA reports that there are 5.663 billion cubic metres of proven natural gas reserves. The presence or extent of proven oil reserves in Somalia is uncertain. The CIA asserts that there are no proven reserves of oil in the country, while UNCTAD suggests that most proven oil reserves in Somalia lie off its northwestern coast, in the Somaliland region. An oil group listed in Sydney, Range Resources, estimates that the Puntland region in the northeast has the potential to produce to of oil, compared to the 6.7 billion barrels of proven oil reserves in Sudan. As a result of these developments, the Somalia Petroleum Corporation was