Somaliland Central Bank Governor Emphasizes Robust Financial Policies to Combat Crimes and Boost Global Confidence

[Deeq A.]

In a significant push to strengthen Somaliland’s financial integrity, Governor of the Central Bank of Somaliland, Abdinasir Ahmed Hirsi, has underscored the critical need for enhanced policies and regulations to combat financial crimes.

Speaking at the opening of a training session organized by the Somaliland Banks Association, Governor Hirsi emphasized that effective measures against financial misconduct are essential to fostering trust in the nation’s financial institutions and attracting international investment.

“If we succeed in implementing robust policies and regulations to fight financial crimes, confidence in our financial institutions will rise significantly,” Hirsi stated. He highlighted that a transparent and reliable financial system is vital for positioning Somaliland as an attractive destination for global investors. “The world invests in countries with trustworthy financial systems, where policies and laws align with international standards,” he added.

The training session, aimed at enhancing the skills of employees within Somaliland’s financial sector, focused on combating money laundering and other financial violations. Hirsi stressed the importance of improving the expertise and awareness of financial institution staff to establish a dependable accounting framework capable of addressing illicit activities.

This initiative comes at a time when Somaliland is seeking to bolster its economic standing and pursue greater international recognition. By aligning its financial systems with global best practices, the nation aims to create a stable and appealing environment for foreign investment, which Hirsi described as a “key to unlocking Somaliland’s economic potential.”

The Governor’s remarks reflect Somaliland’s broader strategy to strengthen governance and economic resilience, positioning the country as a competitive player in the global financial landscape.

As Somaliland continues to navigate its path toward international legitimacy, such efforts are expected to play a pivotal role in shaping its economic future.

Somalilandstandard

Qaran News