By M.A. Egge
The President of the Republic of Somaliland H.E. Musa Bihi Abdi, officially opened Tuesday 5th March the 11th African Islamic Finance Summit hosted in the capital Hargeisa in 2024.
The Head of State hailed the importance of conference saying that Somaliland has been fortunate enough to hosting it. He warmly welcomed the international experts who traveled to come to the conference from different countries around the world.
The President praised all the financial fraternities, saying that the nation and the various banks that work in finance are standing together. He said that the state backed the industry which in turn stands with the people and their nation.
“Banks are required, once the mortgage law has been approved, to invest and ease youth unemployment. Somaliland is in good shape, there are many tasks ahead of us that need to be resolved together, the most important thing is the elections that we are entering this year, let everyone prepare for it.” President.
The conference is being attended by international leaders in the financial world, from more than a dozen of the world’s financial and business experts. Present were the head of the Somaliland Insurance Agency, the heads of the Central Bank of the Republic of Somaliland, the leadership of the organization United Banks of Somaliland, heads of financial institutions from the United Arab Emirates and Egypt and also various experts from independent banks in Somaliland; who focused on how, and the importance, of the country of Somaliland could benefit from the expertise and experiences in finance and commerce of the participants in the summit.
The Governor of the Central Bank of the Republic of Somaliland Dr. Ali Abdullahi Dahir explained in depth the importance of the summit and how it contributes greatly to the role of Islamic banks in the field of development and also in fighting against poverty.
Director of Al-Huda Islamic Banking and Economics, Mr. Muhamed Subeir Mughal and the chairman of the association of the Bank in Somaliland, Mr. Khalif Omar Noor praised the 11th conference held in Hargeisa, while noting that this it would contribute a lot to economic growth in Somaliland.
The Chairman of the Insurance Agency of the Republic of Somaliland, Mr. Guleed Muse Galaal focused in his speech on the importance of the insurance industry and the role of the government in implementing insurance in the country, as its laws have been already finalized.
Minister of Finance Development, Hon. Dr. Saad Ali Shire on his part welcomed the delegates and international experts who participated in the international conference on Islamic economics and noted that it is a great opportunity for Somaliland.
