Vice-chairman of the Central Bank of Somaliland Mr. Hamse A. Khaire with Shari’ah Scholars travels Bahrain to attend 23rd AAOIFI Annual Sahri’ah Boards Conference.
The post by Hon. Hamse A. Khaire on his Twitter (now X) account reads;
Honored to lead the Bank of Somaliland delegation to the 23rd AAOIFI Annual Shari’ah Boards Conference in Bahrain. I’m joined by esteemed Shari’ah Board members Sheikh Almis Yahya, Sheikh Ibrahim Hersi, and Sheikh Mohamed Ibrahim.
Beyond attending core sessions, we’ll be holding strategic side meetings with leading Islamic finance regulators—including the Central Bank of Bahrain—to deepen cooperation, align with international Shari’ah standards, and advance Somaliland’s growing Islamic finance ecosystem. A meaningful step forward on our reform journey.
The delegation, including Shari’ah scholars Sheikh Almis Yahya, Sheikh Ibrahim Hersi, and Sheikh Mohamed Ibrahim, aimed to align Somaliland’s Islamic finance ecosystem with international standards through strategic meetings with the Central Bank of Bahrain, a major regulator in Islamic banking, overseeing $27.5 billion in Islamic banking assets as of 2023.
This visit reflects Somaliland’s broader push for economic reform and international recognition, leveraging Islamic finance—a sector growing at 8.1% annually per the 2023 ICD-REFINITIV Islamic Finance Development Report—to strengthen its financial systems amidst regional challenges like the Berbera Economic Free Zone development.