A stock exchange and Islamic finance

The force

Two things are moving together. Somalia now has a stock exchange, and the global pool of money that follows Islamic rules is large and growing fast.

The National Securities Exchange of Somalia (NSES) was inaugurated in Mogadishu on 19 June 2025, with trading expected from early 2026 (MFW4A). It plans to list company shares and sukuk, including government sukuk for roads, ports and power. Telecoms, banks, real estate and energy firms are expected to list first. It is a member of the East African Securities Exchanges Association (MFW4A). One report says the exchange hopes to draw $2 billion of diaspora money (Zawya); that figure comes from a headline and has not been checked against the full report.

Outside the country

Islamic finance assets reached about $6.5 trillion in 2025, up 9% in a year, and are projected to pass $10.5 trillion by 2030 (LSEG and ICD, IFDI 2026). 2025 was a record year for sukuk. Fitch has said African sukuk issuers should tap the large pool of money in the Gulf (International Finance).

Inside the country

Almost every Somali is Muslim, so products that follow Islamic rules fit what people already want. Members of parliament debating the new Central Bank bill in October 2026 pushed for Islamic-banking consistency and a higher Sharia board (Dawan). Somaliland engaged AlHuda CIBE to write Islamic banking rules (Salaam Gateway).

Who rode it fast

• Wahed, a halal investing app, passed $2 billion under management in May 2026. It took eight years to reach $1 billion and about one more year to double (Wahed).
• LaunchGood, a Muslim giving platform, has raised hundreds of millions of dollars for causes since 2013, from donors in 5,000 cities (The National). Sources give different totals, from more than $520 million to about $650 million.

What is not known yet

The date of the first trades on the exchange and its first listings were not confirmed in our research. No Somalia-specific digital zakat or waqf platform with published numbers was found.

What it means for young Somalis

A local exchange gives Somali companies a way to raise money at home and lets families, at home and abroad, own a share of what is built. Money that buys shares in businesses pays wages, which is the kind of money that builds a country.