Bank of Somaliland Welcomes U.S. Discussion on Somaliland’s International Financial Access. The Bank of Somaliland welcomes the discussion held by the U.S. House Committee on Financial Services regarding Somaliland’s access to the international financial system. The bank remains committed to strengthening financial-sector regulation, AML/CFT safeguards, payment-system oversight, and international financial connectivity to support businesses, investment, and economic growth. #USHouseFinancialServices #USHouse #USDepartmentOfTreasury #FinancialAccess #InternationalFinancialSystem

Central Bank of Somaliland and CDIC–Taiwan Agree on a One-Year Implementation Plan The Central Bank of Somaliland and the Central Deposit Insurance Corporation (CDIC–Taiwan) have agreed on a one-year implementation plan to advance the Memorandum of Understanding (MoU) on Deposit Insurance signed on 18 June 2026. The plan focuses on strengthening Somaliland’s deposit insurance framework through technical assistance, knowledge exchange, staff capacity building, regulatory development, and institutional strengthening. The initiative marks an important step toward establishing a modern, effective, and sustainable deposit insurance system, contributing to financial stability, public confidence, and stronger financial-sector oversight in Somaliland. The meeting was led by the Central Bank’s Deputy Governor, H.E. Hamse Abdirahman Khayre, and Director General, Mr. Yasin Jama Ahmed. CDIC–Taiwan was led by Ms. Yvonne Fan, Deputy Executive Vice of CDIC. #Somaliland #DepositInsurance #FinancialStability #CDIC #Taiwan

The Director General of the Central Bank of Somaliland inspected the ongoing construction of the Bank’s new branch in Salahley.

The Central Bank of Somaliland, in partnership with IFC/World Bank Group, has successfully concluded a technical workshop on the implementation of the Credit Information System & Secured Transactions and Collateral Registry (CIS/STCR) Project. The workshop was officially opened by the Governor of the Central Bank of Somaliland, H.E. Abdinasir Ahmed Hirsi, and attended by Deputy Governor Mr. Hamse Abdirahman Khayre and Director General Mr. Yasin Jama Ahmed. The workshop brought together representatives from the Central Bank, IFC, commercial banks, mobile money service providers, consultants, and other key stakeholders to review project progress, system requirements, technology infrastructure, legal frameworks, and financial data integration. The Project Steering Committee and technical committees on legal, policy, and credit information matters were also formally launched. The workshop concluded with agreement on priority actions and stakeholder responsibilities. The CIS/STCR Project will contribute to strengthening confidence in Somaliland’s financial system, improving credit risk management, and expanding access to finance across Somaliland.

The Central Bank of Somaliland is sharing an important public awareness message with all citizens of Somaliland. Please stay vigilant and beware of sophisticated scammers.

The Governor of the Bank of Somaliland, together with the Deputy Governor, Director General, SPRING Project Coordinator, and World Bank officials, officially launched the SPRING Project on 5 August 2026. The project marks a major milestone in advancing institutional reforms, modernizing the Bank of Somaliland, strengthening financial laws and policies, accelerating digital transformation, and expanding financial inclusion. The Governor thanked the World Bank for its continued partnership, noting that the SPRING Project will enhance the Bank's institutional capacity and contribute to a stronger, more resilient financial system. #BankofSomaliland #WorldBank #SPRINGProject #FinancialInclusion

The Bank of Somaliland and the World Bank officially launched the SPRING Project on 5 August 2026.

The Governor of the Central Bank of the Republic of Somaliland, H.E. Abdinasir Ahmed Hersi, today participated in the official opening of the Collateral Registration Office for Financial Institutions, marking an important step towards implementing the Collateral Law for Banks and Financial Institutions in Somaliland. The Central Bank is committed to completing the necessary regulations, guidelines, procedures, and institutional arrangements required for the effective implementation of the Law. As part of this reform, the Central Bank will establish a modern Online Collateral Registry and Credit Information System, providing secure and efficient access to authorised financial institutions, courts, and local authorities. The system will enable real-time verification of pledged assets and identification of the institution holding the relevant security interest. These reforms will strengthen the legal protection of lenders, enhance transparency, reduce fraud, disputes and credit risks, and increase confidence in secured lending. Once fully implemented, the Collateral Law and these digital systems will significantly expand access to finance, strengthen responsible lending, and support a more resilient, inclusive, and modern financial sector in Somaliland. #CentralBank #Somaliland #FinancialStability #CollateralRegistry #DigitalTransformation #Banking #FinancialSector

Bank of Somaliland Welcomes Launch of Xoolo-Jire Livestock Finance Product. The Bank of Somaliland has welcomed the launch of Xoolo-Jire, a new Shari’ah-compliant livestock financing product introduced by MicroDahab MFI to support pastoralists, livestock traders and businesses operating across the livestock value chain. Representing the Bank at the launch event, the Deputy Governor described the product as an important step toward deepening financial inclusion and directing more financing to productive sectors of the economy. Xoolo-Jire is expected to support activities including livestock purchases, fattening, animal feed, transport, equipment and business expansion through Islamic financing arrangements such as Murabaha and Ijara. The livestock sector remains a major source of employment, household income and foreign-exchange earnings for Somaliland. In 2025, Somaliland exported approximately 3.82 million animals, with an estimated value of nearly USD 545.8 million. The Bank of Somaliland noted that the launch is consistent with national efforts to expand financial inclusion beyond basic mobile-money services and increase access to savings, productive financing, Takaful and other suitable Shari’ah-compliant products. The Bank also emphasized the importance of responsible lending, customer protection, sound risk management and full compliance with applicable regulations. The Bank of Somaliland will continue to support responsible financial innovation that strengthens the livestock sector, creates employment, increases household incomes and contributes to sustainable economic growth. #BankOfSomaliland #XooloJire #FinancialInclusion #Microfinance

The Bank of Somaliland convened banking sector leaders to discuss the transition to Risk-Based Supervision and the introduction of new prudential guidelines. The engagement emphasized stronger governance, improved risk management, depositor protection, and a more stable and resilient financial system in Somaliland. #BankOfSomaliland #RiskBasedSupervision #FinancialStability

The Board of Directors of the Bank of Somaliland has officially approved the Bank's Mid-Term Strategic Plan (2026–2028). The Strategic Plan provides a clear roadmap for strengthening monetary and financial stability, advancing financial sector development, accelerating digital transformation, enhancing institutional capacity, and promoting effective governance over the next three years. This milestone reaffirms the Bank's commitment to building a modern, resilient, and inclusive financial system that supports sustainable economic growth in the Republic of Somaliland. #BankOfSomaliland #StrategicPlan #FinancialStability #DigitalTransformation #EconomicDevelopment

FOR IMMEDIATE RELEASE Bank of Somaliland Launches Landmark Financial Reforms to Stabilize Currency and Modernize Payments. HARGEISA – The Bank of Somaliland (BoS) has officially launched a major financial transformation today, introducing two pivotal reforms to modernize the nation's economy and stabilize the Shilling. To foster greater reliance on the national currency, the country has long enforced a policy requiring all small mobile money transactions—those under 100 USD—to be conducted exclusively in Somaliland Shillings rather than US Dollars. In a significant move to streamline digital commerce, the Bank is now liberalizing this policy by removing the 100 USD transaction limit specifically for Person-to-Merchant (P2M) payments, allowing businesses and customers greater flexibility. For all other mobile money channels, such as personal transfers, the 100 USD threshold remains firmly in place to ensure ongoing support for the local currency. Simultaneously, the Bank has set a new official exchange rate of 11,000/11,100 SLSH per USD to dismantle the influence of informal currency markets and narrow the gap between official and black-market rates by over 10 percentage points. Backed by a strategic injection of USD liquidity and close coordination with the Ministry of Finance, these decisive actions aim to eliminate currency arbitrage, enhance market transparency, and establish a more resilient foundation for Somaliland’s long-term financial future.

The leadership of the Central Bank of Somaliland today held a working meeting with the Economic, Finance and Trade Subcommittee of the House of Representatives of the Republic of Somaliland. The meeting focused on the Bank's performance, the development of the national financial system, modernization of payment services, and strengthening institutional cooperation to enhance transparency, accountability, and financial stability across the country.

The Central Bank of Somaliland continues to demonstrate strong leadership and a clear commitment to building a modern, resilient, and inclusive financial system. The progress showcased today reflects sustained efforts to strengthen financial stability, modernize payment systems, enhance regulatory oversight, and accelerate digital transformation. A strong financial sector is the foundation of sustainable economic growth and long-term national prosperity. #CentralBank #Somaliland #FinancialStability #DigitalTransformation #FinancialInclusion #EconomicGrowth #Innovation #Payments #Banking #Development

“Our foremost task now is to strengthen and modernize our financial systems.” Governor of the Central Bank of the Republic of Somaliland. Speaking at the launch of the National Payment System Integration Program, the Governor emphasized that enhancing and harmonizing Somaliland’s financial infrastructure remains a top priority in building a resilient, efficient, and future-ready financial sector. #CentralBankSL #NationalPaymentSystem #FinancialSectorDevelopment #DigitalTransformation #FinancialInclusion #FinancialStability #Somaliland

The Deputy Governor delivered these remarks during the opening of the training program for the National Payment System Integration Initiative, reaffirming the Central Bank’s commitment to advancing a secure, inclusive, and digitally enabled financial ecosystem. #CentralBankSL #NationalPaymentSystem #DigitalTransformation #FinancialInclusion #FinTech #Somaliland #FinancialStability

The Central Bank of the Republic of Somaliland has officially launched the training program for the National Payment System Integration Initiative, a key step toward building a modern, secure, and interoperable payments infrastructure. The program aims to strengthen collaboration among financial institutions and accelerate the development of an efficient and inclusive digital payment ecosystem across Somaliland. #CentralBankSL #NationalPaymentSystem #DigitalTransformation #FinancialInclusion #FinTech #Somaliland

Governor of the Central Bank of Somaliland, Mr. Abdinasir Ahmed Hersi, delivers keynote remarks at the Israel and Somaliland Business Forum 2026, highlighting strategic investment opportunities and financial sector reforms shaping Somaliland’s economic future. #Somaliland #IsraelSomalilandForum #SomalilandEconomy #InvestmentOpportunities

Ambassador Galaal joined virtually via Zoom in the signing ceremony of the MoU between the Central Bank of the Republic of Somaliland and the Central Deposit Insurance Corporation (CDIC). The agreement represents a major milestone in strengthening deposit insurance systems, enhancing financial stability, and deepening institutional cooperation between Somaliland and Taiwan. #Somaliland #CDIC #TaiwanSomalilandRelations #FinancialStability #DepositInsurance #BankingSector #EconomicCooperation