The Central Bank of Somalia (CBS) has been recognized on the global stage after winning the 2023 Central Banking Award for Payment and Market Infrastructure Development in London. Governor Abdirahman M. Abdullahi accepted the award on behalf of the bank, praising the dedication and hard work of CBS staff who have played a key role in transforming Somalia’s financial sector. He described the recognition as a proud moment for the country and a sign of the progress being made.

This award shines a light on CBS’s efforts to modernize payment systems and strengthen financial infrastructure—both of which are essential for building a stronger economy. By improving its ability to regulate financial institutions and design effective policies, the Central Bank is creating a safer and more inclusive system that encourages investment and supports businesses. These changes are not just about finance; they help to create stability and open up more opportunities for everyday Somalis.

Looking ahead, CBS is committed to pushing Somalia’s financial sector forward through technology, partnerships, and innovation. The recognition is not just a win for the bank, but for the entire country, as it shows that Somalia is moving in the right direction. With these achievements, the Central Bank is helping to build a stronger economy, improve access to financial services, and make a positive difference in the lives of the Somali people.