Mogadishu, Somalia – The Third Somali Banking and Finance Conference convened in Mogadishu on Sunday, bringing together senior government officials, central bank representatives, and financial sector leaders to deliberate on advancing Somalia’s economic resilience through modern banking reforms and innovative financing strategies.
Organized under the theme “Building Sustainable Financial Systems for Somalia’s Future”, the conference provided a platform for stakeholders to examine the country’s progress in rebuilding trust in the financial sector while exploring policies to enhance access to capital, promote digital banking, and strengthen compliance with international financial standards.
Speakers emphasized the critical role of financial institutions in supporting private sector development, job creation, and infrastructure investment. Discussions highlighted the growing importance of mobile money and fintech in expanding financial inclusion, particularly for rural populations previously excluded from formal banking services.
Officials from the Central Bank of Somalia reaffirmed the government’s commitment to financial stability and modernization, citing recent reforms in banking supervision, anti-money laundering frameworks, and monetary policy alignment. Industry leaders called for increased collaboration between banks, investors, and regulators to mobilize domestic resources and attract foreign investment.
The event also featured panels on Islamic finance, sustainable investment, and public-private partnerships, with experts noting Somalia’s untapped potential in aligning Sharia-compliant finance with national development priorities.
As Somalia continues its path toward debt relief completion and economic self-reliance, the conference underscored the need for innovation, transparency, and inclusive growth within the banking sector. Participants agreed that a robust and trustworthy financial system remains the foundation for long-term prosperity and regional integration.