Central Bank of Somalia

Not to be confused with Central Bank of Somaliland.
Central Bank of Somalia
Bankiga Dhexe ee Soomaaliya
HeadquartersMogadishu, Somalia
Established30 June 1960; 64 years ago (1960-06-30)
Ownership100% state ownership[1]
GovernorMr. Abdirahman M. Abdullahi[2]
Central bank ofSomalia
CurrencySomali shilling
SOS (ISO 4217)
Websitewww.centralbank.gov.so
Central Bank of Somalia, Mogadishu

The Central Bank of Somalia (CBS) (Somali: Bankiga Dhexe ee Soomaaliya, Arabic: البنك المركزي الصومالي) is the monetary authority of Somalia. Somalia has struggled to reestablish a functioning state since the collapse of an authoritarian regime in 1991. Somalia has been cited as a real-world example of an anarchist stateless society and a country with no formal legal system. The Transitional Federal Government, formed in 2004, was recognized as the central government of Somalia. Among other duties, it is in charge of ensuring financial stability, maintaining the internal and external value of the local currency, and promoting credit and exchange conditions that facilitate the balanced growth of the national economy. Within the scope of its powers, it also contributes to the financial and economic policies of the State.[3]

  1. ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ Hardie, Dan (9 April 2019) Somali government appoints new central bank governor Central Banking
  3. ^ Central Bank of Somalia - About the Bank Archived June 27, 2010, at the Wayback Machine