In a significant step toward global financial integration, the Central Bank of Somaliland, led by Governor Abdinasir Ahmed Hersi, has achieved associate membership in the International Association of Deposit Insurers (IADI).
The approval was announced on September 13, 2025, following the IADI Executive Council’s decision on September 11, 2025, during a meeting in Taipei, Taiwan, held alongside the IADI Core Principles International Conference and the 40th anniversary of Taiwan’s Central Deposit Insurance Corporation.
This landmark achievement places Somaliland among over 100 central banks and financial institutions worldwide within the IADI, an organization founded in 2002 and based in Basel, Switzerland, dedicated to promoting effective deposit insurance systems globally.
Governor Hersi, as the head of the Central Bank, spearheaded the membership application and signed the necessary agreements, reinforcing Somaliland’s commitment to establishing its first deposit insurance system and aligning with international financial standards.
Membership in IADI grants Somaliland access to global expertise, best practices, and technical support, enabling the modernization of its banking infrastructure. This development strengthens depositor protection, ensuring greater security for citizens’ savings, fostering trust in the financial system, and signaling to international investors that Somaliland is a stable and attractive destination for responsible growth.
Beyond its economic impact, this milestone enhances Somaliland’s international credibility, positioning it as a serious player in the global financial community. Despite its unrecognized status, this achievement underscores Somaliland’s determination to advance its financial sector and supports its broader journey toward stability and international recognition.
https://www.iadi.org/about-iadi/participants/list-of-associates/?fbclid=IwVERDUANeNOhleHRuA2FlbQIxMAABHjukDDqTEolyCPFVZlKuxI9HYCnj1QydLByszG6qEbTAqlTBuurCby7BGy0i_aem_e4Ll8KQ9BL_7YmcQqn9bng