By M.A. Egge
In the city of Hargeisa, an event was held to inaugurate the office of exchange of financial instruments of the Central Bank of Somaliland.
The inauguration ceremony was attended by the Minister of Financial Development, the Governor of the Central Bank and other dignitaries.
The Deputy Governor of the Central Bank of Somaliland Mr. Abdirahman Mohamed Abdillahi spoke in depth about the importance of the office for the country’s financial system, noting that the new exchange would greatly contribute to the development and efficiency of the financial system management in the country.
The director of the Exchange office, Mr. Abdinasir Mohamed Jama, gave a brief and complete report on how the office works and the technical process it uses.
He also emphasized that the office will facilitate financial exchange in the country, which will enhance the coherence and efficiency of financial institutions in the country.
On the occasion, the Minister of Finance, Hon. Saad Ali Shire, also made important remarks and highlighted the important role that the office will play in the development of the economy and the payment process.
The minister underpinned the importance it would have in the process of connecting the country’s financial institutions, which will play a major role in the growth and quality of the country’s financial institutions.
Dr. Edna Adan and the top leaders of the country’s leading banks also spoke about the importance of the office for the growth and openness of the country’s economy.
Finally, the Governor of the Central Bank of Somaliland, Dr. Ali Abdilahi Dahir, officially inaugurated this office, explaining the importance of the exchange office to the financial system of the country, the openness of the economy, and the project which would be the basis for financial development in the future.