Hargeisa, 17 October 2024 – The President of the Republic of Somaliland, Mr. Muse Bihi Abdi, participated today in a significant event marking the 30th anniversary of the establishment of the Somaliland Shilling and the Central Bank, held at the Presidential Palace.
The event was attended by Cabinet members, Central Bank leaders, officials from various financial institutions, business leaders, and other distinguished guests. Presentations highlighted the pivotal role of the Central Bank and the Somaliland Shilling in the nation’s development.
The gathering featured a documentary showcasing the various stages leading to the establishment of the Somaliland Shilling and the implementation of the Central Bank, which is currently thriving.
Businessman Mohamed Said Dahabshiil, Chairman of the Somaliland Banking Association, along with Mr. Khaliif Sheikh Omar and Mr. Jamaal Caydiid Ibrahim, Chairman of the Chamber of Commerce, commended the progress made by the Central Bank and emphasised the currency’s significance in governance and the promotion of statehood.
Mr. Ali Abdullahi Daahir, Chairman of the Central Bank of Somaliland, delivered a detailed address outlining the evolution of the Somaliland Shilling and the efforts undertaken to establish a robust Central Bank, highlighting the readiness for the necessary laws and policies.
Dr. Sacad Ali Shire, Minister of Finance Development, also praised the leadership of the Central Bank, both current and past, noting that the institution has reached a stage of substantial progress.
In his concluding remarks, President Muse Bihi Abdi acknowledged the leadership of the Central Bank, emphasising that this achievement reflects the unity, collaboration, and solidarity among the people of Somaliland.
The President also briefly addressed the upcoming elections for the presidency and political parties, urging the public to cast their votes in a clean and peaceful manner, while avoiding any actions that could threaten security and social cohesion.