On September 13, 2025, Somaliland’s Central Bank Governor, Hon. Abdinasir Ahmed Hersi, led high-level discussions with Taiwan’s Central Bank and Financial Supervisory Commission (FSC) to advance cooperation in modernizing Somaliland’s financial sector. Joined by Somaliland Ambassador Hon. Mohamoud Adam Jama Galal and Senior Advisor Mohamoud Ahmed Mohamed, Hersi outlined ambitious plans to bolster the Central Bank of Somaliland’s institutional capacity.
Central Bank of Taiwan Commits to Support
In a meeting with Deputy Governor Tzung Ta Yen, Ph.D., the Central Bank of Taiwan pledged assistance in:
-Capacity Building: Training programs and staff secondments for institutional growth.
-FinTech Infrastructure: Developing IT systems, cybersecurity, and payment platforms.
-Regulatory Frameworks: Guidance on policies and supervisory standards.
-SWIFT Integration: Support for modern settlement systems and cross-border payments.
Hersi praised Taiwan’s resilient financial system, noting its relevance to Somaliland’s own diplomatic and economic challenges.
FSC to Enhance Regulatory Capacity
Vice Chairperson Sherri H. Y. Chuang of the FSC committed to supporting Somaliland with:
-Prudential Policies: Aligning regulations with global best practices.
-Technical Training: Strengthening the Central Bank of Somaliland’s Supervision Department through knowledge exchange.
Governor Hersi underscored the importance of robust supervisory frameworks for financial stability and long-term growth.
A Shared Vision for Progress
“By partnering with Taiwan, we are building a modern, inclusive financial system to safeguard depositors, enable cross-border trade, and drive prosperity,” said Governor Hersi. Both Taiwanese institutions expressed strong support for Somaliland’s modernization efforts, marking a pivotal step toward financial inclusion and sustainable economic development.
