The Central Bank of the Republic of Somaliland has successfully concluded a high-level workshop to finalize its Medium-Term Strategic Plan for 2026–2028, marking a pivotal step toward positioning the institution as the undisputed leader of the country’s financial and economic markets.
Held in Hargeisa, the workshop brought together the Bank’s senior leadership, including Governor Abdinasir Ahmed Hirsi, Deputy Governor Hamse Kheyre, the Director General Yasin Alas, and a team of local and international financial experts – the first time the Central Bank has partnered with a global consultancy firm.
Governor Abdinasir Ahmed Hirsi declared that the new strategy is designed to transform the Central Bank into a modern, powerful institution capable of effectively steering Somaliland’s financial sector.“
We want our Central Bank to have full authority and capacity to lead the nation’s financial and economic markets,” Mr. Abdinasir told participants. He revealed that the past ten months have been dedicated to diagnosing challenges, building technical and financial resources, and forging international partnerships that will support the Bank’s transformation.
Deputy Governor Hamse Khaire described the workshop as a defining moment, stating: “Today we are answering fundamental questions: What kind of central bank does Somaliland need, and how do we build a world-class institution that meets international standards while serving our national development goals?”
The three-year strategic plan places strong emphasis on:
- Strengthening governance and transparency
- Enhancing regulatory and supervisory powers over financial institutions
- Expanding modern financial services across the country
- Deepening international cooperation and knowledge transfer
- Driving sustainable economic growth and financial stability
Participants praised the Bank’s clear vision and its commitment to adopting best global practices. The Director General stressed that the strategy will equip the Central Bank with cutting-edge tools and expertise to efficiently oversee the rapidly evolving financial landscape of Somaliland.
The successful completion of the workshop signals a new era of institutional strength and ambition for the Central Bank, with officials expressing confidence that the 2026–2028 plan will play a central role in achieving long-term economic prosperity and stability for the nation.