(06-03-24) MOGADISHU (Halqabsi News) — The Central Bank of Somalia has been formally inducted as an Associate Member of the Alliance for Financial Inclusion (AFI), joining a global network dedicated to advancing financial inclusion.
Established in 1968 and currently led by Governor Abdirahman Mohamed Abdullahi, Somalia’s Central Bank is amidst critical reforms. These changes are shifting the institution from a primarily government fiscal agent to a modern, policy-oriented Central Bank. The CBS is expected to contribute to and benefit from AFI’s cooperative model, which promotes peer learning and knowledge sharing to drive financial inclusion.
AFI, a global alliance led by member central banks and financial regulatory institutions, aims to foster financial inclusion at various levels through partnerships and practical policy solutions. The alliance has seen significant achievements over its decade-long journey, growing to include members from 81 emerging and developing countries committed to reducing financial exclusion.
Halqabsi News
