The Somaliland shilling, which cannot easily be exchanged outside Somaliland on account of the nation's lack of recognition, is regulated by the Bank of Somaliland, the central bank, which was established constitutionally in 1994. It may not be considered valid tender in disputed areas such as Ayn or the district of Badhan, which are not administered as part of Somaliland and continue to use the Somali shilling despite being claimed by the Somaliland government.[11]