The Central Bank of Somalia’s approval of the revised CBS Act 2012 and the CBS Property Management Policy on January 24th represents a pivotal move towards strengthening financial regulation and governance in the country.
The revised Act enhances the regulatory framework, ensuring better oversight of financial institutions and alignment with international standards.
Meanwhile, the Property Management Policy establishes a clear framework for managing the bank’s assets, promoting transparency and accountability.
These reforms demonstrate Somalia’s progress in building a stable and resilient financial system.