In a significant step toward strengthening financial integrity, President H.E. Abdirahman Mohamed Abdilahi Irro, officially inaugurated the National Conference on Combating Illicit Money Laundering on 24th June, 2025 in Hargeisa. The landmark event underscores the government’s commitment to fostering transparency, curbing corruption, and aligning Somaliland’s financial systems with international standards.
Organized by the Central Bank’s leadership and attended by key stakeholders in the financial sector, the event marked a pivotal step in strengthening Somaliland’s financial integrity, addressing attendees, President Irro emphasized that the fight against money laundering and terrorism financing is a shared national responsibility. “The Constitution of Somaliland mandates us to safeguard national security, promote a free market, and ensure transparency and accountability,” he stated. “Combating illicit financial activities is not just a legal obligation but a cornerstone of our vision for a trustworthy and modern financial system.”
The President outlined his administration’s focus on enhancing financial governance, strengthening auditing mechanisms, and issuing regular reports to ensure compliance with global financial regulations. He stressed that every citizen, institution, and business in Somaliland has a role to play in upholding transparency and accountability.
“This conference marks a critical milestone in our collective efforts to protect our financial system from criminal activities,” President Irro said. “We aim to build a robust and transparent financial framework that supports economic growth and aligns with international standards.”
The National Conference is expected to produce actionable outcomes to bolster Somaliland’s financial integrity and safeguard its economy from illicit practices. The event brings together stakeholders from government, private sectors, and civil society to collaborate on strategies to combat money laundering and promote sustainable economic development.