President Said Abdullahi Deni of the Federal Member of State (FMS) of Puntland launched the Somalia Islamic Banking Forum in Garowe.
Deni opened the forum on August 5.
During his address, President Deni urged players in the banking sector to use this opportunity to discuss prospects and find solutions for the challenges they face.
He also encouraged banks and financial institutions in Puntland to merge to transform the sector into a powerful investment.
Furthermore, President Deni promised to champion improved collaboration between his administration and the banking sector in the region.
He identified two areas that could benefit from the collaboration between government and banks; that is, farming and fishery.
Additionally, President Deni urged banks to be at the forefront in developing youth graduate schemes.