Central Bank of Somalia

The Central Bank of Somalia (Baanka Dhexe ee Soomaaliya) serves as the official monetary authority and financial regulator of the Federal Republic of Somalia. Established to ensure national price stability, the bank plays a crucial role in fostering a modern national payments system and supervising licensed commercial banks. Its mission is to promote a stable and efficient financial system that supports economic growth and development in Somalia. In recent years, the Central Bank has focused on reforming the financial sector, enhancing regulatory frameworks, and improving the overall banking environment. This includes initiatives aimed at increasing financial inclusion and access to banking services for the Somali population. The bank is pivotal in restoring public confidence in the financial system and is actively involved in regional financial cooperation to strengthen economic ties within East Africa.