Hargeisa (SLpost)- The Central Bank of Somaliland and Taiwan’s Central Deposit Insurance Corporation (CDIC) have agreed on a one-year implementation plan aimed at advancing cooperation on the establishment and development of a deposit insurance system in Somaliland.
The agreement follows a Memorandum of Understanding (MOU) signed by the two institutions on June 18, 2026, establishing a framework for technical cooperation in the field of deposit insurance.
During a meeting held in Hargeisa, the two sides discussed key priorities for developing Somaliland’s deposit insurance framework, including technical assistance, legal and regulatory development, staff knowledge exchange, and institutional capacity building at the Central Bank of Somaliland.
The newly agreed one-year implementation plan sets out priority areas for technical cooperation, specific activities and an implementation timetable. It is intended to support Somaliland in developing the technical, legal and institutional foundations required for a sustainable deposit insurance system.
The Central Bank of Somaliland expressed its appreciation to CDIC-Taiwan for its continued support and contribution to the development of a system expected to play an important role in financial stability, public confidence in the banking sector and strengthening the Central Bank’s supervisory functions.
The meeting was led on behalf of the Central Bank of Somaliland by Deputy Governor Hamse Abdirahman Khayre and Director General Yasin Jama Ahmed, accompanied by senior officials from the Bank.
The CDIC-Taiwan delegation was led by Ms. Yvonne Fan, Deputy Senior Executive Vice President of CDIC-Taiwan, together with senior officials from Taiwan’s deposit insurance institution.
The two institutions said the meeting and the one-year implementation plan represent an important step in strengthening institutional cooperation and advancing efforts to establish a modern, transparent and sustainable deposit insurance system in Somaliland.
Such a system is expected to contribute to greater confidence among depositors, stronger financial-sector resilience and the broader development and stability of Somaliland’s financial system.
Reporting by Somalilandpost News
