The Central Bank of Somaliland has reached a cooperation agreement with the Accounting and Auditing Organization for Islamic Financial Institutions, whereby the Central Bank of Somaliland will become involved under the umbrella of the body, which includes more than 45 banks.
There will be cooperation between the two sides in the field of supervision to conform to the conditions of Islamic transactions, as well as training accountants on the Islamic banking system . This agreement came on the sidelines of the Islamic Banking and Financial Business Conference currently held in Manama.
It was signed for the Somaliland side by Ali Abdullah Tahir, Governor of the Somaliland Central Bank, and His Highness Sheikh Ibrahim bin Khalifa Al-Khalifa, Chairman of the Accounting and Auditing Organization for Islamic Financial Institutions.
