Strengthening Financial Stability Through Strategic Cooperation
The Bank of Somaliland and Taiwan’s Central Deposit Insurance Corporation (CDIC) have officially concluded a Memorandum of Understanding (MoU) aimed at enhancing cooperation in deposit insurance, financial sector development, and institutional capacity building.
The signing ceremony marked a significant milestone in advancing a modern, secure, and resilient financial system while reinforcing public confidence in Somaliland’s banking sector and promoting alignment with international standards.
The event brought together senior officials from both institutions and was attended by H.E. Ambassador Mahmoud Adam Jama (Ambassador Galaal), Representative of Somaliland to Taiwan, and H.E. Ambassador Allen Chenhwa Lou, Representative of Taiwan to Somaliland.
H.E. Abdinasir Ahmed Hersi, Governor of the Bank of Somaliland, who is currently accompanying the Presidential Delegation on an official visit to Israel, participated in the ceremony virtually and delivered remarks highlighting the importance of the agreement. The Governor was represented at the ceremony by Deputy Governor and Acting Governor, Mr. Hamse Abdirahman Khayre.
This historic partnership opens a new chapter of strategic collaboration between Somaliland and Taiwan and is expected to contribute to strengthening deposit protection mechanisms, enhancing institutional expertise, and supporting long-term financial stability and sustainable economic growth.
