The President of the Republic of Somaliland H.E. Musa Bihi Abdi led the nation in commemorating 30 years since the nation established its own Central Bank and started using its own currency which was coined and incepted shortly following the re-assertion of the country’s sovereignty and dissolving the ill-fated union with the Mogadishu administration of the Italian Somaliland.
The large event of the local currency’s 30th anniversary was held on Thursday at the Presidency and attended by all the eminent personalities in the banking sector, several cabinet ministers, business fraternity and distinguished guests.
The role of the Central Bank in propelling national progressive development was highlighted and hailed profoundly.
A documentary program was presented at the event elaborating on the Bank’s role as it gradually underwent metamorphosis to becoming the formidable institution it is today. The implementation of the establishing of the currency year in year out was well documented.
Dahabshiil founder Mr. Mohamed Saeed Dahabshiil, the chairman of the Somaliland Bank Association Mr. Khalif Sheikh Omar and the chairman of the National Chamber of Commerce Mr. Jamal Aydeed Ibrahim, who spoke in turn, praised the progress made by the Central Bank and the role of the local monetary in catalyzing governance, hence positively influencing and impact on development.
The Governor of the Central Bank of the Republic of Somaliland Dr. Ali Abdillahi Dahir explained in depth the stages Somaliland shilling has gone through and how they strived for the country to have a powerful central bank, formulations of its laws and associated policies already in place.
Minister of Finance Dr. Saad Ali Shire praised the current and former Central Bank leaders, and said that presently the work of the Central Bank has made monumental progress.
The Head of State H.E. Musa Bihi Abdi highly praised the achievements of the central bank hence pointed out that the realized progress has been enabled by unity and solidarity within the Somaliland populaces.
The President took the opportunity to remind the nation that they should conduct themselves responsibly as the nation goes to the polls in about three weeks or so. He urged the populaces to cast their ballots without incidences and at the same time promote solidarity and unity, and safeguard public security.