# Bank of Somaliland (Baanka Somaliland): Somaliland's central bank

> What the Bank of Somaliland does: currency, licensing, payments; its governors; its 2026 to 2028 plan; and its work on access to SWIFT and US banks.

Source page: https://calankii.com/en/institutions/bank-of-somaliland/
Last checked: 2026-11-12
Publisher: Calankii (https://calankii.com)

## What it does

The Bank of Somaliland was established on 1 October 1994 and is provided for in [Somaliland](/en/states/somaliland-1991-to-2026/)'s constitution. It is the monetary authority and central bank of Somaliland and also runs as a commercial bank, with a head office in Hargeisa and 16 other branches ([Wikipedia](https://en.wikipedia.org/wiki/Bank_of_Somaliland)). It issues the Somaliland shilling, which is used in Somaliland in place of the Somali shilling issued by the [Central Bank of Somalia](/en/institutions/central-bank-of-somalia/) ([Wikipedia](https://en.wikipedia.org/wiki/Bank_of_Somaliland)).

Representatives of banks, financial companies and microfinance institutions from across Somaliland took part in its 2026 payment system training ([Somaliland Standard](https://somalilandstandard.com/central-bank-of-somaliland-launches-major-training-to-revolutionize-national-payment-system)). The wider picture is on [the economy of Somaliland](/en/economy/somaliland-economy/).

## Who leads it

| Office | Person | Source |
|---|---|---|
| Governor | Abdinasir Ahmed Hersi | [Somaliland Standard](https://somalilandstandard.com/central-bank-of-somaliland-launches-major-training-to-revolutionize-national-payment-system) |
| Deputy Governor | Hamse Abdirahman Khaire | [Somaliland Standard](https://somalilandstandard.com/central-bank-of-somaliland-launches-major-training-to-revolutionize-national-payment-system) |
| Director General | Yasiin Calase | [Somaliland Standard](https://somalilandstandard.com/central-bank-of-somaliland-launches-major-training-to-revolutionize-national-payment-system) |

Abdirahman Duale Mohamud was Governor from 1997 to 2010 ([Wikipedia](https://en.wikipedia.org/wiki/Abdirahman_Duale_Mohamud)). In April 2026 the bank held the last quarterly meeting of its outgoing board of directors ([Horn Tribune, 12 April 2026](https://horntribune.com/2026/04/12/central-bank-of-somaliland-bids-emotional-farewell-to-outgoing-board-members-in-final-quarterly-meeting/)).

## What it reports doing

- **Strategic plan:** it finalised a medium-term strategic plan for 2026 to 2028 at a workshop in Hargeisa ([Horn Tribune, 19 November 2025](https://horntribune.com/2025/11/19/somaliland-central-bank-unveils-ambitious-2026-2028-strategic-plan-to-lead-national-financial-markets)).
- **National payment system:** on 29 March 2026 the Governor launched a two-week training programme for banks, money firms and the bank's own staff on a national payment system ([Somaliland Standard](https://somalilandstandard.com/central-bank-of-somaliland-launches-major-training-to-revolutionize-national-payment-system)).
- **Payment infrastructure:** the Governor lists a national payment switch, instant payments, a credit bureau, deposit insurance and core banking systems among the bank's projects ([Somaliland Standard](https://somalilandstandard.com/somalilands-central-bank-governor-hails-u-s-bill-h-r-7993-as-path-to-global-financial-inclusion/)).

## Access to world banking

The Governor says Somaliland's banks face restrictions on international payment networks such as SWIFT, which banks use for payments between countries. On 29 January 2026 Governor Hersi wrote to the US Treasury on this. On 19 March 2026 a US congressman introduced bill H.R.7993, which would ask the Treasury to report within 180 days on the legal and technical barriers to Somaliland's access to the US financial system. Hersi welcomed the bill, calling access "a strategic necessity" ([Somaliland Standard](https://somalilandstandard.com/somalilands-central-bank-governor-hails-u-s-bill-h-r-7993-as-path-to-global-financial-inclusion/)).

## How the work is shared

The Bank of Somaliland works alongside Somaliland's [Ministry of Finance and Economic Development](/en/institutions/somaliland-ministry-of-finance/), which runs the budget. Its place among Somaliland's other bodies is on the [Somaliland institutions page](/en/institutions/somaliland-institutions/).

---
I want to help with this: email hello@calankii.com. Fix this page: email hello@calankii.com with the page link and your source.