Hargeisa, Somaliland – The Central Bank of the Republic of Somaliland has concluded a high-level workshop to finalize its Medium-Term Strategic Plan for 2026–2028. This initiative marks a pivotal step in positioning the institution as the leader of the nation’s financial and economic markets.
Held in Hargeisa, the workshop united the Bank’s senior leadership, including Governor Abdinasir Ahmed Hirsi, Deputy Governor Hamse Kheyre, Director General Yasin Alas, and a team of local and international financial experts. This collaboration marks the first time the Central Bank has partnered with a global consultancy firm.
Governor Abdinasir Ahmed Hirsi stated that the new strategy is designed to transform the Central Bank into a modern, powerful institution capable of effectively steering Somaliland’s financial sector.
“We want our Central Bank to have the full authority and capacity to lead the nation’s financial and economic markets,” Governor Abdinasir told participants. He revealed that the past ten months have been dedicated to diagnosing challenges, building technical and financial resources, and forging the international partnerships necessary to support the Bank’s transformation.
Deputy Governor Hamse Kheyre described the workshop as a defining moment, stating, “Today, we are answering fundamental questions: What kind of central bank does Somaliland need, and how do we build a world-class institution that meets international standards while serving our national development goals?”
The three-year strategic plan emphasizes:
· Strengthening governance and transparency.
· Enhancing regulatory and supervisory powers over financial institutions.
· Expanding access to modern financial services across the country.
· Deepening international cooperation and knowledge transfer.
· Driving sustainable economic growth and financial stability.
Participants praised the Bank’s clear vision and its commitment to adopting global best practices. The Director General emphasized that the strategy will equip the Central Bank with cutting-edge tools and expertise to efficiently oversee Somaliland’s rapidly evolving financial landscape.
The successful workshop signals a new era of institutional strength and ambition for the Central Bank. Officials expressed confidence that the 2026–2028 plan will be central to achieving long-term economic prosperity and stability for the nation.
