By Goth Mohamed Goth
Hargeisa, – Central Bank Governor Abdinasir Ahmed Hirsi has asserted that robust financial laws and policies are fundamental to securing global confidence and attracting international investment to Somaliland.
“Global trust in our financial institutions surges when we strengthen the legal frameworks and policies combating financial crimes,” Governor Hirsi stated during his opening address at a specialized training program organized by the Somaliland Bankers Association for the nation’s financial institutions.
Governor Hirsi underscored the urgent need to enhance the skills and awareness of personnel within Somaliland’s financial sector. “Developing accounting expertise and unified systems is essential. This enables us to effectively combat financial crimes and build standardized financial practices,” he emphasized.
He directly linked regulatory strength to economic growth: “Transparent financial practices and legally sound policies are the gateway to attracting international investment. When our laws and policies align with global standards, the world invests confidently in Somaliland.”
Collaborative Anti-Crime Effort
Khalif Sheikh Omar, Head of the Somaliland Bankers Association, and Mustafe Abdi, Director of the Anti-Money Laundering (AML) Department, also addressed the gathering. They highlighted the training’s critical role in establishing foundational capabilities to combat money laundering and related financial crimes.
Government-Wide Commitment
The event underscored a coordinated national effort:
– The Somaliland Government
– The Central Bank
– The Specialized Banking Sector
Are collectively engaged in an intensive campaign to eliminate financial crimes, particularly money laundering. A core focus remains elevating the expertise and qualifications of the nation’s financial workforce
