Central Bank of Somalia

The Central Bank of Somalia held the 11th edition of its Internal Seminar Series recently, organized by the Research and Statistics Department to strengthen research, knowledge sharing, and staff capacity. The seminar examined key economic and financial sector developments, including macroeconomic forecasting, financial access, financial stability, and payment systems. This edition focused on using research and data analysis to support evidence-based decision-making. #CentralBank #Research #SeminarSeries

The Central Bank of Somalia (CBS) has joined the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a leading global standard-setter for Islamic finance. The membership was approved at the 24th AAOIFI Annual Shari’ah Boards Conference in Manama, Bahrain, where CBS was represented by Deputy Governor Dr. Ali Yassin. Together with its membership in the Islamic Financial Services Board (IFSB), this reinforces Somalia’s engagement with the two leading international standard-setting bodies for Islamic finance. The membership supports CBS’s efforts to strengthen regulation and governance and develop a sound, internationally aligned Islamic finance sector in Somalia. #IslamicFinance #AAOIFI #IFSB #CBS #CentralBankOfSomalia #Somalia

In an interview with @AfricanBizMag , CBS Governor discusses the Bank’s transformation and priorities, including currency reform, financial inclusion and modern payment systems. Read the full interview: african.business/2026/10/par…

The CBS Board of Directors recently completed a two-day training program, focused on effective governance and strategic leadership. Key areas included: • Board responsibilities and fiduciary duties. • Strategic oversight and risk management. • Institutional independence, accountability and transparency. • Board effectiveness, committee structures and the role of the Board Secretary. • Practical measures to strengthen the Bank’s governance framework. The program reflects CBS’s continued commitment to sound governance and effective institutional oversight. #CBS #BoardMeeting #Somalia #CentralBank

Today, the Central Bank of Somalia (@CentralBankSo) and the National Bank of Rwanda (@CentralBankRw) signed a Memorandum of Understanding in the presence of the CBS Board of Directors, strengthening our institutional partnership. The MoU provides a framework for cooperation in four priority areas: •Digital innovation and central bank modernisation. •Financial integrity and AML/CFT compliance. •Regulatory and supervisory frameworks. •Knowledge sharing through staff training, study visits and peer-to-peer exchanges. This partnership reflects our shared commitment to stronger institutions and resilient, trusted financial systems. It will help CBS deepen its expertise and advance Somalia’s financial sector reforms. We thank Governor Soraya Munyana Hakuziyaremye (@SorayaMHlive ) and the National Bank of Rwanda for their partnership and look forward to translating this agreement into practical cooperation and tangible benefits for both institutions. #Somalia #Rwanda #CentralBankRw #CentralBanking #FinancialStability #DigitalFinance

The Somalia Financial Governance Report 2025 was launched yesterday. Read the full report which includes latest progress in Somalia's financial sector development.

CBS is pleased to share its June 2026 Newsletter, highlighting key developments in Takaful licensing, digital finance, regional payments integration, and leadership development during the first half of the year. Read the full newsletter: centralbank.gov.so/cbs-newsl… #CBSJune2026Newsletter #FinancialSectorDevelopment #InformationSecurity #DigitalFinance #PaymentSystems

The @CentralBankSo successfully concluded its Annual Economic Policy Conference, held on 28–29 July 2026 in Mogadishu, bringing together over 40 institutions from government, the private sector, academia, civil society, and international partners. Discussions focused on Somalia’s economic outlook, financial stability, systemic risks, declining development aid, and constraints to private-sector credit. The conference reaffirmed the Bank’s commitment to evidence-based policymaking and building a resilient financial system. A key highlight was the launch of the 2026 Financial Access Survey Report, which will provide the baseline for Somalia’s forthcoming National Financial Inclusion Strategy.

CBS Governor Abdirahman M. Abdullahi participated in the 29th Ordinary Meeting of the EAC Monetary Affairs Committee in Uganda. He reaffirmed Somalia’s commitment to regional monetary integration in due course, stronger macroeconomic management, and the harmonisation of financial supervision, payment systems, and statistical frameworks with EAC standards

Governor @AbdirahmanM_A highlights how the Somalia Instant Payment System (SIPS) is advancing faster, safer and more inclusive payments through collaboration between the Central Bank of Somalia and commercial banks. Read the article: businessdailyafrica.com/bd/o…

The Central Bank of Somalia recently held the 10th edition of its Internal Seminar Series in Mogadishu, focusing on digital transformation, cybersecurity, and awareness of the ISO/IEC 27001:2022 information security management standard. The seminar reflects CBS’s continued commitment to innovation, staff development, and strengthening institutional resilience. #CBS #DigitalTransformation #ISO27001

CBS has concluded a week-long Workshop on Strategic Leadership, facilitated by experts from the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI). The workshop focused on strengthening strategic leadership, critical thinking, organisational culture, and execution discipline, with emphasis on translating strategy into measurable results. Strong institutional execution is essential to advancing CBS’s strategic priorities and building a modern, resilient, and effective central bank. #CBS #MEFMI

Today in Mogadishu, the Central Bank of Somalia hosted a knowledge-sharing workshop with PAPSS and Somalia’s commercial banks. Discussions focused on PAPSS payment solutions, including instant payments and trade-related settlement services, and their potential benefits for businesses and financial institutions. Since signing the Membership Agreement in March 2026, CBS has been working closely with PAPSS on onboarding and integration. This initiative is aligned with the CBS Strategic Plan 2025–2029, particularly our priorities to strengthen safe, inclusive, and efficient payment systems, support trade, and promote regional financial sector connectivity. The PAPSS network now spans 21 African countries, including Somalia, with participation from national switches and more than 190 commercial banks. The Somali Payment Switch is also progressing toward integration into this growing network. As Africa’s trade integration advances, Somalia is part of that journey. #CBS #PAPSS #AfCFTA #Somalia

On 16 June 2026, the Central Bank of Somalia received a delegation from the FSD Network on a stock-taking mission regarding the implementation of the EAC Payment Systems Master Plan. Led by Prof. Njuguna Ndung’u, former Governor of the Central Bank of Kenya, the mission discussed Somalia’s progress toward regional payment systems integration and the next steps for advancing secure, interoperable, and inclusive payment systems to support trade and economic growth. @AFRwanda , @FSDKe, @TanzaniaFsd and @fsduganda