At the WB/IMF Spring Meetings, CBS Governor urged the IMF to consider augmenting Somalia’s ECF program to address financing gaps and BOP pressures from declining external aid. He reaffirmed Somalia’s reform commitment, calling for steady support to safeguard stability and growth.

A CBS team led by the Governor is participating in the ongoing review of Somalia’s IMF-supported ECF program, as part of the Federal Government delegation. The discussions focus on reform progress and priorities to advance economic stability and inclusive growth. #Somalia #IMF

President Hassan Sheikh Mohamud has enacted four major economic laws on Insurance(Takaful), Income Tax, Financial Institutions, and AML/CFT. The reforms strengthen Somalia’s financial sector, expand CBS oversight role, enhance investor confidence, and promote inclusive economic growth.

Somalia and the IMF have reached a Staff-Level Agreement following the successful 3rd review of the ECF-supported program. The agreement highlights Somalia’s sustained reform progress and strong commitment to economic stability despite challenges. Release: url-shortener.me/1BQR

The Central Bank of Somalia has signed an MoU with the Central Bank of Djibouti Banque Centrale de Djibouti to strengthen cross-border regulatory cooperation. This partnership enhances AML/CFT collaboration, fosters supervisory coordination, and deepens regional financial integration. #CBS #BCD

Deputy Governor of CBS, Dr. Ali Yasin Sheikh Ali attended a high-level panel on diaspora investment in Nairobi, to promote financial inclusion, ease remittance flows, and leverage digital tools to support resilient, inclusive development. #CBSomalia #SDE4R #DiasporaFinance

𝐂𝐁𝐒 𝐁𝐨𝐚𝐫𝐝 𝐨𝐟 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫𝐬 held its ordinary meeting on 𝟐𝟗 𝐉𝐮𝐧𝐞 𝟐𝟎𝟐𝟓. Key decisions included: •Re-licensing of a Mobile Money Service Provider •Revision of mandates and structure of key executive management committees The Board also reviewed financial

We welcome the successful IMF Executive Board conclusion that the Third Review of the Extended Credit Facility for #Somalia remains firmly on track. 1/2 imf.org/en/News/Articl…

We are making real progress across domestic revenue mobilisation, public financial management, financial sector deepening, and governance. Our government is committed to building on these reform successes to grow the #Somali economy and create opportunities for our people. 2/2

The Central Bank of Somalia officially launches the licensing process for Takaful service providers (Islamic insurance). A key step towards a stable Shariah-compliant insurance sector. Click here to access the full press release: shorturl.at/90232 #CentralBank

𝐓𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐒𝐨𝐦𝐚𝐥𝐢𝐚 has opened the 𝐥𝐢𝐜𝐞𝐧𝐬𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 𝐟𝐨𝐫 𝐌𝐢𝐜𝐫𝐨𝐟𝐢𝐧𝐚𝐧𝐜𝐞 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐬 (𝐌𝐅𝐈𝐬). All MFIs are required to submit their license applications 𝐰𝐢𝐭𝐡𝐢𝐧 𝐬𝐢𝐱 𝐦𝐨𝐧𝐭𝐡𝐬 𝐟𝐫𝐨𝐦 𝟎𝟔

𝐓𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐒𝐨𝐦𝐚𝐥𝐢𝐚 announces that effective 1 Sept 2025, all bank new account openings in Banadir Region require a valid NIRA-issued National ID. This measure strengthens eKYC and combats illicit transactions. For more info, please read the ful

𝐎𝐧 𝟑𝟏 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟓, 𝐂𝐁𝐒 𝐡𝐨𝐬𝐭𝐞𝐝 𝐭𝐡𝐞 𝐀𝐧𝐧𝐮𝐚𝐥 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐨𝐧 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐏𝐨𝐥𝐢𝐜𝐲 in Mogadishu, bringing together policymakers, senior economists, academics, private sector leaders, development partners, and civil society to engage in

The Mid-Year Newsletter of CBS is out now, featuring major institutional highlights including the launch of the CBS Strategy 2029, Somalia’s membership in Afreximbank, and key updates on policy reforms and international partnerships. Read the full issue here: