Foreign de-risking keeps Somali banks isolated, governor says
Central Banking Summer Meetings: Somalia needs to rejoin world finance system after payments success
Somalia’s reintegration into the world financial system is being held back by foreign regulators’ belief that its banks are “high risk”, the country’s central bank governor said.
Over the last decade, the Central Bank of Somalia (CBS) has rebuilt a financial sector that barely existed after the state’s collapse in 1991, Abdirahman Abdullahi said. Its efforts won Central Banking’s Payment and Market Infrastructure Development Award this year.
But international banks and regulators continue to
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