Hargeisa 20 June, 2022 (WHM)The Ministry of Finance of the Republic of Somaliland has organized a tripartite workshop on facilitating the disbursement of investment funds by private banks in the country.

Hargeisa 20 June, 2022 (WHM) – A workshop organized by the Ministry of Finance its Department of Private Sector, was held at the headquarter of the Central Bank of the Republic of Somaliland, with the aim of facilitating access to funds domestic investment and in general how to facilitate financial services in the country, while the Ministry of Finance presenting a study on the difficulties against the domestic investment.

The meeting was attended by a members from various sectors relevant to the topic of the meeting, including the Minister of Finance Dr. Sa’ad Ali Shire, the Minister of Investment Mr. Abdilahi Are, Deputy Minister of Commerce Muse Ibrahim Salaf, Deputy Governor of the Central Bank Abdirahman Sh. Hassan, Private Banks Association, private bank officials such as: Dahabshiil Bank, Dar es Salaam Bank, Premier Bank, Amal Bank and other members of other institutions, organizations and companies operating in financial services.

During the meeting, in-depth discussions were held on strengthening cooperation between public institutions, the business community and the private Banks, with the following issues being considered:

  1. How to raise public awareness on the use of banks.
  2. Cooperation between private banks
  3. Facilitate banking investment for businesses and society.
  4. Collaboration between the government and the private banks and how the government can create a simpler system of cooperation between banks.

At the end of the workshop, it was agreed that a technical committee be set up to continue the work, and it was agreed that such a meeting be held once a month to review the progress made, and in general if there is a growing trend of cooperation between the three parties.

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