Central Bank of Somalia
@CentralBankSo
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944
Official X account of Central Bank of Somalia. #CentralBankSo #Somalia #BankigaDhexe #FayigahaDhaqaalaha RT's ≠ Endorsements.
Mogadishu Somalia
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Mr. Abdisamad Loyan holds PhD in Economics, has over 25 years of working experience both in the public & private sectors, served as an adjunct faculty member for nearly 19 years at Colorado State University & taught graduate-level classes in Money & Banking & Econ Devlpmt. Thread
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A New dawn for Somalia as IMF Announced Debt Forgiveness for the Country.
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#Somalia
currency is
#Somali
Shilling. The Central Bank Act - Decree Law 16 of 19/10/1968 mandates the Central Bank as the only first authority to issue
#Somali
currency Banknotes and coins as legal tender.
#Bangigadhexe
,
#DidYouKnow
?
48
80
323
Ogeysiis!
Bankiga Dhexe wuxuu dhawaan hirgelin doonaa hab-maaliyadeed mideysan oo bankiyada dalka u fududeynayo inay isla shaqeeyaan. Waa markii ugu horeysey oo nidaamkaan dalka laga hirgelin doono
waxayna faa’ido u tahay bankiyada iyo dhamaan shacabka Soomaaliyeed ee isticmaala.
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On 27th February, 2021– the Central Bank of Somalia issued today Mobile Money license to Hormuud Telecom under the provision of mobile money service within the Federal Republic of Somalia.
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300
The number of registered Somali commercial banks are growing fast. 5 new banks are joining the existing 5 privately owned banks. CBS is happily welcoming the new banks Daryeel Bank Ltd, SomBank Ltd., MyBank Limited, Agro Africa Bank & Amana Bank and wishing them all success.
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282
3. Dr. Hussein Warsame - Non-Executive Board Member
Dr. Hussein Warsame is a Full Professor & the Accounting Area Chair at the Haskayne School of Business, University of Calgary. He is also the Chartered Professional Accountants (CPA) Faculty Fellow of Taxation at the.....
11
35
187
Officially launched the integration of SFMIS and CBS Core Banking System.
The event was graced by H.E Prime Minister Hassan Ali Kheire. This integration will facilitate realtime data transfer, efficiency, transparency and minimize operational risk.
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53
186
1/3 The Central Bank of Somalia has won the prestigious Award of Central Banking's Payment and Market Infrastructure Development for 2023. The Award was received on behalf of CBS by the Governor, Abdirahaman M. Abdullahi, in a ceremony organised by Central Banking in London.
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19
35
172
The Central Bank of Somalia has launched another progressive milestone in its quest to transform the
financial sector of Somalia. As of 27th March 2023, the use of
#IBAN
across all transactions
going through the NPS have been successfully adopted by all banks in Somalia.
7
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167
Central bank of Somalia is pleased to welcome the recent 62.5% acquisition of First Community Bank by Premier Bank Limited Somalia. This is a significant achievement that demonstrates the growth and innovation of our banking industry.
5
43
148
.
@CBSsomalia
happy to note that
@IMFNews
&
@WorldBank
International Development Association today determined that
#Somalia
took the necessary steps to start receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative.
4
36
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The President of the Federal Republic of Somalia, Dr. Hassan Sheikh Mohamud
@HassanSMohamud
, has reappointed Governor Abdirahman Mohamed Abdullahi
@CBS_Governor
for a second four-year term, effective July 17, 2023. This is in accordance with CBS Act Law No. 130 of April 22, 2012
13
49
140
.
@CBS_Governor
met with commercial banks, mobile money service providers & MTBs as well as representative of Somali Bank Association to discuss implementation of the National Payment System (NPS), which seeks to promote financial stability & overall economic growth in the country
6
33
136
The Ziraat Katilim Bank of Türkiye
@ziraatkatilimso
opens a branch in
#Somalia
, becoming the first international bank to operate in the country for more than five decades.
Read the press release here:
13
50
138
#Somalia
clears arrears owed to
@AfDB_Group
after 4 years of economic reforms under IMF program.
#UnitedKingdom
&
@eu_eeas
paid the bridge loan required to clear $122.55 million of
@AfDB_Group
.
5
50
130
Today is the big day. We are happy to announce that we are launching the National Payment System. Stay tuned for our live updates!
#CBSsomalia
#BankigaQaranka
#NationalPaymentSystem
5
27
129
The
@CBSsomalia
is honoured to introduce three new members of the
@CBSsomalia
management team. These experts were selected from among 120 applicants/candidates through a competitive recruitment process that took nine weeks. Thread
11
24
121
The government of
@UAE
donated a grant of $9.6 million to assist with the country’s humanitarian needs. The amount was deposited into the
#government
account at
#CBS
earlier today.
19
29
117
The
@CBS_Governor
Abdirahman Mohamed participated in the Paris Club negotiation. The representatives of the Paris Club creditor countries agreed on 31 March 2020 with the Government of the Federal Republic of
#Somalia
to write off $1.4 billion of debt to Somalia.
2
22
112
The Annual Management and Staff Meeting took place at Decale Airport Hotel The Management presented the organization’s strategic and transition plans for 2020 to 2024 The meeting also covered the CBS reform progress in 2019The organization has adopted a function-based structure
6
22
111
1/3 Today,
@CentralBankSo
reached a noteworthy milestone by opening its first branch in the federal member state of Galmudug. The inauguration of the CBS branch in Dhusamareb was presided over by H.E
@HassanSMohamud
, the President of Federal Government of
#Somalia
.
11
33
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CBS Board approves Deloitte audited financial statements of 2020 with a ‘clean opinion’.
The Board of Directors of the Central Bank of Somalia has recently approved the 2020 financial statements, which has attained unqualified opinion status.
#Somalia
2
27
105
DIGNIIN:
Bankiga Dhexe ee Soomaaliya wuxuu la socodsiinayaa dadweynaha iyo ganacsatatada inaysan jirin shirkado SHATI (license) ka haysta Bankiga Dhexe oo ka ganacsada iibka lacagaha qalaad ee suuqyada caalamiga ah.
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Between 1950 and 1962, the
#Somalo
was used as the
#Somali
currency In most parts of
#Somalia
. The East African shilling was used in Somaliland until 1962.
#BangigaDhexe
,
#DidYouKnow
?
10
27
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11
22
93
The
@CBSsomalia
was first established in 1962 and closed in 1991 following the collapse of the government and reopened in January 2007 to perform its constitutional functions.
#DidYouKnow
?
8
24
94
MA OGTAHAY in dhammaan bangiyada dalka ay maanta isku xiran yihiin?
Bankiga Dhexe ayaa dhawaan hirgeliyey hanaan casri ah oo mideynaya bangiyada dalka oo dhan.
OGOW waxaad u baahan tahay hal akoon oo keliya, maadaama la isku xirey bangiyada oo dhan.
#BankigaDhexe
#NPS
#Somalia
10
14
92
Today
#Somalia
Cabinet appointed 5 non-Executive Board Members for
@CBSsomalia
namely Prof. Hussein A. Warsame, Dr. Aues Scek, Dr. Abdisamad N. Loyan, Sakhawadin M. Mohamed & Mr Osman S. Gabeyre.
@CBSsomalia
Governor Abdirahman thanks the Gov't for the nominations.
@SomaliPM
5
33
94
Central Bank of Somalia has launched a transformative national payment system. -TEASER 1-
Watch full video here:
#CBSsomalia
#NationalPaymentSystem
#Somalia
#BankigaDhexe
#NPS
#BankigaQaranka
@mpf1somalia
@IMFAfrica
@IMFNews
@WorldBankAfrica
@WorldBank
4
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The Board members discussed the overall state of the financial sector, supervision, and compliance, accounting and reporting guidelines for Islamic commercial banks. Most importantly, the Board approved the first-ever Mobile Money Operator license new dawn for mobile money.
11
19
87
.
@CBS_Governor
, today launched a five-day (5) training for the
#Somali
commercial banks to strengthen their AML/CFT compliance and capacity building. The training is provided by the department of supervision and licensing of
@CBSsomalia
in partnership with experts from
@FSVCor
.
1
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91
On February 19, 2024, H.E.
@HassanSMohamud
, the President of Somalia,
#appointed
Farhiya Mohamed Yusuf as a new non-executive member of the CBS Board of Directors.
Read the Full Bio here:
11
13
93
Based on a preliminary assessment, the Executive Boards of
@IMFNews
and
@WorldBank
deemed that
#Somalia
is eligible for assistance under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Key Questions on
#Somalia
.
1
33
86
The current Governor of the
@CBSsomalia
is Mr. Abdirahman Mohamed Abdullahi.
#BangigaDhexe
,
#DidYouKnow
?
5
11
92
Today is a special day for the Central Bank of Somalia, we celebrate the great achievements of the year 2021.
#CBSAnnualConference
#ShirkaSanadlahaBDHS
5
7
87
In an exclusive interview with
@business
,
@CBSsomalia
Deputy Governor,
@AliYassinSheikh
, affirms that new 1,000-shilling notes will become legal tender in 2024, aiming to deal with counterfeit bills, inflation, and stymie illicit activities.
#Somalia
.
12
37
90
The Central Bank of Somalia
@CentralBankSo
is pleased to introduce new members of it’s Board of Directors recently appointed by the
#President
of Federal Republic of
#Somalia
, Dr. Hassan Sheikh Mohamud
@HassanSMohamud
.
Read the full Bio here:
8
21
87
The Governor of the Central Bank of Somalia had a productive meeting with H.E the president of islamic Development Bank, Dr. Bandar M.H. Hajjar. The Governor requested for an early relief of Somalia's Debt to IsDB.
9
21
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1/2
#Somalia
is on track to get debt relief by next month, as the country is expected to reach the completion point of the Heavily Indebted Poor Countries (HIPC) process by December 2023. Read the press release here:
8
24
86
The Central Bank of Somalia is Delighted to Win Central Banking’s 10th Annual Award on Payments and Market Infrastructure Development.
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20
81
1. Dr. Abdilahi Ali, BSc (Hons), PGDip, PGCert, MSc, PhD, FHEA, the new CBS Executive Director: Monetary, Financial & Regulatory Policy Group.
Dr. Ali is an experienced Economist, Academic, Researcher and Consultant specialising in Development Economics, Emerging Financial...
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17
79
War-saxaafaded: Somtel Mobile Money License Ceremony 12 June 2021
Bankiga Dhexe ee Somaliya wuxu manta ruqsada Mobile Money guddoonsiiyey shirkadda Somtel. Wa marki labaad oo BDhS bixiyo ruqsad nocan ah, waxana lagu mamusay bixinta ruqsada munaasabad heer sare loo soo agaasimey.
5
18
80
The Central Bank of Somalia is Delighted to Win Central Banking’s 10th Annual Award on Payments and Market Infrastructure Development.
5
24
78
On March 13, 2024, Paris Club creditors agreed principally with the Federal Republic of Somalia (FRS) to full debt cancellation. This is a key part of the finalization of the HIPC debt completion achieved in December 2023.
2
20
79
1/3 CBS team had a week long meetings with IMF's Safeguarding Mission in Nairobi in conjunction with the new ECF Program for Somalia.
4
17
80
Farriin ku socota Dadweynaha (Public Notice). Fadlan halkan ka akhriso farrinta:
6
46
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World Bank Approves $137.5 Million for Somalia’s Response to COVID-19, Floods, and Drought via
@WorldBank
3
24
76
1/2 The Central Bank of Somalia (CBS) Board of Directors held their ordinary meeting in Mogadishu on December 15–17, 2023.
The Board of Directors has approved the CBS budget for 2024 and the relicensing of 7 commercial banks and 15 money transfer businesses (MTB).
9
17
78
“During the Annual Meeting of WB/IMF 2019 in DC, the Governor of Central Bank of Somalia talked about Mobile Money in a Fragile State, such as Somalia and implications for Financial Stability and Development.
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14
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CBS held its ordinary Board meeting in Mogadishu recently. Key decisions included the approval of a mobile money service license for AMTEL. The Board also reviewed CBS's reform agenda progress and discussed the budget performance report of 2024 Q2.
@AbdirahmanM_A
@CentralBankSo
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17
76
CBS is ready to introduce new national currency. Bank has requested the IMF to issue Assessment Letter (it shows the readiness of CBS to issue new national currency) with the objective 2 share it wth donors to mobilize z needed funding 4 the currency reform project.
#Somalia
9
32
76
1/2 The Central Bank of Somalia
@CentralBankSo
(CBS) is pleased to announce the official inauguration and
operationalization of Ziraat Katilim Bank
@ziraatkatilimso
,
#Somalia
branch on 29th October, 2023.
4
22
75
The ribbon has been cut for the official launch of the National Payment System!
#CBS
#BankigaQaranka
#NationalPaymentSystem
#Somalia
1
24
74
4. Mr. Osman S. Gabeyre - Non-Executive Board Member
Mr. Osman S. Gabeyre is an expert in risk management and a financial professional with over 15 years of public, private & regulatory experience. Osman possesses in-depth and diverse experiences within the financial services...
2
14
72
1/4 Today, the Central Bank of Somalia (CBS) launched a standardized national QR code known as 'SOMQR'. This is the latest project of series of reforms undertaken by CBS in the last few years.
4
20
72
Golaha Wasiirrada ayaa maanta magacaabay 5 xubnood oo ka mid ah Guddiga Maamulka
#BangigaDhexe
ee
#Soomaaliya
-
@CBSsomalia
. Guddomiyaha
#BangigaDhaxe
Mudane Cabdirahmaan wuxuu Dawladda uga mahadcelinayaa magacaabista dad aqoon sare leh.
@SomaliPM
3
19
70
Representatives from Aktif Bank of
#Turkey
was in
#Mogadishu
to have round-table discussions with
#Somalia
's emerging commercial banks. Discussed: importance of correspondent bank that can facilitate wire transfers & conduct business transactions etc. CBS facilitated this meeting
0
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74
1/2 The Central Bank of Somalia (
#CBS
), recently launched a new audit system, which is intended to modernize the work of the Internal Audit of the institution.
2
7
72
The CBS Governor paid a courtesy call to Mr Huseyin Aydin, CEO of Ziraat bank in Ankara, Turkey.
6
15
71
The Board of Directors of the Central Bank of Somalia (CBS) held its 85th ordinary meeting in Mogadishu on July 13–14, 2024. Key approvals include:
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7
68
#BaroBankigaDhexe
Bankiga Dhexe ee Soomaaliya wuxuu ka kooban yahay 5 qeybood:
1-Xaafiiska Gudoomiyaha
2-Xaafiiska Gudoomiye-ku-xigeenka
3-Maamulka Lacagaha iyo Hawlaha Bankiyada
4-Adeegga iyo Maamulka Bankiga
5-Maamulka Siyaasadda Lacagaha iyo Nidaaminta hab-maaliyaadka
22
10
68
As part of the Joint Economic Commission (JEC) Somali delegation to Turkey the CBS Governor had a successful sideline meeting with his counterpart, Mr. Murat Uysal, Governor of Central of Turkey in Istanbul.
1
14
67
As poverty reduction & financial inclusion measures, the CBS disbursed around $2m to Somali commercial banks. The money is intended as small loans to poor people in farming, livestock, fishery sectors & small businesses for economic self-sufficiency and a balanced economic growth
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36
63
CBS held its most recent board meeting in which the board discussed the progress of the national payment system which will soon be launched. They also reviewed banking license requirements and finalised the selection of the external auditor for 2021-2023.
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14
61
CBS has given Sadak Mohamed Ali a trophy of appreciation for being the first customer to send a transaction using an IBAN account.
0
3
68
. is the currency abbreviation or currency symbol for the
#Somali
shilling, the currency for Somalia. The Somali shilling is issued and managed by the
@CBSsomalia
.
#BangigaDhexe
,
#DidYouKnow
?
12
14
65
1/3 Waxaa maanta magaalada
#Nairobi
lagu soo gebagebeeyey shir toban maalmood socday, oo u dhexeeyey Soomaaliya iyo mas'uuliyiin ka socday hay'adda lacagta adduunka,
#IMF
. Shirkaas oo looga xaajoonayey barnaamijka deyn cafiska
#Soomaaliya
wuxuu ku dhammaaday guul.
9
16
67
This is a 5 shilling
#Somali
banknote, issued in 1987. It has engravings of Water buffaloes on the front and banana plantation at the back.
#BangigaDhexe
,
#DidYouKnow
?
2
12
62
Meet with the champion awardees who ensured the success and implementation of IBAN project. CBS is proud of their phenomenal achievement.
1
12
67
The launch of our National Payment System is featured in Bloomberg. Read the full article here:
#CSB
#BankigaQaranka
#NPS
#Somalia
11
16
61
The Central Bank of Somalia (CBS) is honored to welcome Faysal Abdullahi Warsame, who was appointed recently as a member of the CBS Board of Directors.
Read the full Bio here:
3
14
60
The Central Bank of Somalia (CBS) provided training to mobile money operators to strengthen compliance with international and national AML/CFT standards in partnership with
@CanadaDev
and
@Alinea_Ideas
.
1
14
63
.
@CBSsomalia
Governor Abdirahman Mohamed today chaired the
#Somalia
Transaction & Reporting System (STARS) steering committee during an online meeting. The project is expected to create inter banks connectivity locally as well as connect commercial banks with international banks.
6
12
63
Delegates from the Central Bank of Somalia (CBS), led by Governor Abdirahman M. Abdullahi, attended the 16th Summit of the Islamic Financial Services Board (IFSB) from the 8th to the 9th of May 2024 in
#Brunei
Darussalam.
2
8
64
CBS is featured on ! Follow us for a breakdown of the article. Read the full article here:
#BankigaQaranka
#FayigahaDhaqaalaha
#CbsSomalia
#Silsiladwayne
3
20
63
Waxaanu soo geba-gebaynay tababar dhanka sharciga ka hortagga lacagaha dembiyada ku lug leh (AML/CFT), oo muddo shan maalmood ah u socday shaqaalaha iyo maamulka Bangiyada GanacsigaTababarkan waxaa bixiyay Bankiga Dhexe ee Soomaaliya oo kaashanaya khubaro ka tirsan hay'adda FSVC.
7
14
62
The
@CBSsomalia
convened a farewell meeting on 22 February 2020 for outgoing members of CBS Board of Directors. The purpose of the event was to express appreciation to the contribution of the five (5) members who will be replaced by new members recently appointed.
@SomaliPM
1
13
61
MUUQAAL: Hadal jeedinta Guddoomiye ku-xigeenka cusub ee Bankiga Dhexe Dr. Cali Yaasiin Sheekh ee xaflada xilwareejinta.
2
9
61
(1/2)
#BaroBankigaDhexe
Bankiga Dhexe wuxuu leeyahay Guddoomiye iyo hal Guddoomiye Ku-Xigeen.
Waxaa hoos yimaadda:
- Maamulaha Xafiiska Guddoomiyaha.
- Xafiiska Isgaarsiinta.
- Xafiiska Hanti-dhowrka.
5
11
62
Bangiga Dhexe -
@CBSsomalia
wuxuu maanta tababar shan (5) maalmood soconaya u furay Bangiyada Ganacsiga ee gaarka loo leeyahay.
Tababarkaas oo la xiriira xoojinta aqoonta bangiyada ee ilaalinka sharciga AML/CFT, waxaa Bangiga Dhexe ka taageeraya khubaro ka socota hay'adda FSVC
3
12
61
1/2 The President of the South-West State of Somalia, H.E. Abdiasis Hassan Mohamed
@Laftagareen
, and the Governor of the Central Bank of Somalia
@CBS_Governor
, Abdirahman Mohamed Abdullahi, jointly inaugurated the CBS branch in Baidoa.
3
18
60
.
@CBSsomalia
is responsible for Licensing and Supervision of Banks and Non-Bank Financial Institutions.
#Somalia
,
#BangigaDhexe
,
#DidYouKnow
?
7
8
62
CBS Economic Report for the first quarter of 2021 is now out!
#CBSSomalia
#Somalia
#BankigaDhexe
#FayigahaDhaqaalaha
2
19
58
.
@CBSsomalia
Board of Directors held first virtual meeting today to discuss key strategic development objectives.
@CBS_Governor
honoured to welcome the new 5 Non-Executive Board members to their first CBS Board meeting, which was conducted on video call due to COVID-19 pandemic.
1
12
58
Central Banking's leading article today is the launch of our national payment system. Read full article here:
@CentralBanking_
@IMFNews
@IMFAfrica
@WorldBank
@WorldBankAfrica
@mpf1somalia
#CBS
#BankigaQaranka
#NationalPaymentSystem
#Somalia
1
15
57
On April 12, 2024, the Governor of the Central Bank of Somalia (CBS),
@AbdirahmanM_A
, participated in a dynamic roundtable at the IMF Regional Capacity Development Forum in
#Paris
, co-hosted by the Banque de France and the
#IMF
's MCM Department.
5
16
60
𝗙𝗮𝗿𝗶𝗶𝗻𝘁𝗮 𝗚𝘂𝗱𝗱𝗼𝗼𝗺𝗶𝘆𝗮𝗵𝗮 𝗕𝗮𝗻𝗸𝗶𝗴𝗮 𝗗𝗵𝗲𝘅𝗲
@AbdirahmanM_A
𝗲𝗲 𝘅𝗮𝗿𝗶𝗴 𝗷𝗮𝗿𝗸𝗮 𝗯𝗮𝗻𝗸𝗶𝗴𝗶𝗶 𝘂𝗴𝘂 𝗵𝗼𝗿𝗿𝗲𝗲𝘆𝗮𝘆 𝗲𝗲 𝗰𝗮𝗮𝗹𝗮𝗺𝗶 𝗮𝗵 𝗼𝗼 𝗸𝗮 𝗵𝗼𝘄𝗹𝗴𝗮𝗹𝗮 𝗱𝗮𝗹𝗸𝗮 𝗺𝘂𝗱𝗱𝗼 𝗸𝗮 𝗯𝗮𝗱𝗮𝗻 𝟱𝟬 𝘀𝗮𝗻𝗼.
@ziraatkatilimso
3
14
60
Our National Payment System is covered by Al Jazeera. Read the full article here
#CBSsomalia
#BankigaQaranka
#NationalPaymentSystem
#Somalia
#BankigaDhexe
@IMF
@IMFAfrica
@Worldbank
@WorldbankAfrica
@mpf1somalia
5
12
57
World Bank Press Release: Central Bank of
#Somalia
and Somali Financial Institutions Take Crucial Steps to Modernize Banking Sector.
@MofSomalia
@DrBeileh
@SomaliPM
@TheVillaSomalia
@Mr_Omarsson
@Abdir_Hassan
2
37
57
1/2 The licensing and Supervision Department of the Central Bank of Somalia has recently adopted a risk-based approach to provide an end-to-end solution to Somalia’s AML/CFT compliance requirements. The approach encompasses risk assessment, risk management, and risk communication
4
12
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