Central bank and financial bodies
Bank of Somaliland (Baanka Somaliland): Somaliland's central bank
The Bank of Somaliland, also called the Central Bank of Somaliland, was set up on 1 October 1994 in Hargeisa. It issues the Somaliland shilling, licenses banks and money firms, and also works as a commercial bank. Abdinasir Ahmed Hersi is Governor. In 2026 it is building a national payment system and asking for access to the world payment network.
What it does
The Bank of Somaliland was established on 1 October 1994 and is provided for in Somaliland'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). It issues the Somaliland shilling, which is used in Somaliland in place of the Somali shilling issued by the Central Bank of Somalia (Wikipedia).
Representatives of banks, financial companies and microfinance institutions from across Somaliland took part in its 2026 payment system training (Somaliland Standard). The wider picture is on the economy of Somaliland.
Who leads it
| Office | Person | Source |
|---|---|---|
| Governor | Abdinasir Ahmed Hersi | Somaliland Standard |
| Deputy Governor | Hamse Abdirahman Khaire | Somaliland Standard |
| Director General | Yasiin Calase | Somaliland Standard |
Abdirahman Duale Mohamud was Governor from 1997 to 2010 (Wikipedia). In April 2026 the bank held the last quarterly meeting of its outgoing board of directors (Horn Tribune, 12 April 2026).
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).
- 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).
- 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).
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).
How the work is shared
The Bank of Somaliland works alongside Somaliland's Ministry of Finance and Economic Development, which runs the budget. Its place among Somaliland's other bodies is on the Somaliland institutions page.
Sources
- Wikipedia · en.wikipedia.org
- Somaliland Standard · somalilandstandard.com
- Wikipedia · en.wikipedia.org
- Horn Tribune, 12 April 2026 · horntribune.com
- Horn Tribune, 19 November 2025 · horntribune.com
- Somaliland Standard · somalilandstandard.com
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Where this matters
- Boorama (Borama) and AwdalAwdal is the far north-west region, on the borders with Djibouti and Ethiopia, with Borama (Boorama) as its capital and about 300,000 to 636,000 people.
- Hargeysa (Hargeisa) and Woqooyi GalbeedWoqooyi Galbeed is the north-western region that holds Hargeisa (Hargeysa) and the port of Berbera, with about 1 to 1.45 million people.
- Burco (Burao) and TogdheerTogdheer is the northern region around Burco (Burao), with about 894,874 people including Buuhoodle.
- Laascaanood (Las Anod) and SoolSool is a region in the north with Las Anod (Laascaanood) as its capital and about 571,000 people.
- Ceerigaabo (Erigavo) and SanaagSanaag is a region on the northern coast with Erigavo (Ceerigaabo) as its capital and about 446,000 people.
Same era
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- DjiboutiAbout 13,900 refugees from Somalia live in Djibouti (Aug 2026): numbers since 1990, Ali Addeh, Holl-Holl, the 2017 refugee law, Arta 2000 and 2025 returns.