The Central Bank of Somalia (CBS) has reached a new milestone after being honored with the Excellence in Banking Award at the Global Somali Awards in Columbus, Ohio. Prof. Hussein Warsame received the award on behalf of CBS Governor, dedicating the recognition to the institution’s leadership and the dedicated team driving Somalia’s financial recovery.

He noted that this achievement reflects the significant progress being made to rebuild the country’s financial system and strengthen its economic foundations.

This recognition highlights CBS’s continued efforts to modernize the national financial infrastructure. Key initiatives such as the National Payment System, Somalia QR Code, and the adoption of international standards including IBAN are transforming how money moves across the country. These advancements are making financial services faster, more secure, and better connected to global systems.

Beyond technical progress, these reforms are laying the foundation for a more stable and inclusive financial environment, supporting businesses, expanding access to financial services, and strengthening trust in the banking system.