In its latest quarterly meeting held this week in at its Mogadishu headquarters, the Central Bank of Somalia (CBS) Board of Directors made several key decisions.
The Board of Directors discussed and approved the 2024 Audited Financial Statements with a clean opinion. The board endorsed the CBS’s annual financial reports, receiving an unqualified (clean) audit opinion—a sign of improved financial transparency and compliance with international standards.
Part of the board’s tasks included the renewal of Sahal Mobile Money License (Golis Telecom). The license renewal for Sahal, a leading mobile money service under Golis Telecom, signals continued support for Somalia’s rapidly growing digital finance sector.
They also reviewed Q1 2025 Financial Performance & Banking Sector Liquidity and assessed the CBS’s first-quarter financial reports while analysing liquidity conditions in the banking sector as well as ensuring stability as Somalia advances economic reforms.
These measures reflect the CBS’s commitment to strengthening monetary governance and fostering financial inclusion in Somalia. The clean audit opinion is particularly significant as the country progresses toward HIPC Initiative completion and broader economic recovery.