Central Bank Forms Stability Panel

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The Central Bank of Somalia has inaugurated its first financial stability committee to strengthen macroprudential oversight and safeguard the resilience of the country’s financial system. Governor Abdirahman Mohammed Abdullahi said the committee will identify risks and coordinate policy responses. Its priorities include advancing currency reforms and integrating money transfer businesses into the national payment system. The committee reviewed the 2024 Financial Stability Report, noting banking assets of $2 billion and profits of $9 million.