Hussein Shuaib

Chief Audit Executive, Central Bank of Somalia. @CBSSomalia. Federal Goverment of Somalia.

[Central Bank of Somalia @CentralBankSo]

Today, the Central Bank of Somalia (@CentralBankSo) and the National Bank of Rwanda (@CentralBankRw) signed a Memorandum of Understanding in the presence of the CBS Board of Directors, strengthening our institutional partnership.

The MoU provides a framework for cooperation in four priority areas:
•Digital innovation and central bank modernisation.
•Financial integrity and AML/CFT compliance.
•Regulatory and supervisory frameworks.
•Knowledge sharing through staff training, study visits and peer-to-peer exchanges.

This partnership reflects our shared commitment to stronger institutions and resilient, trusted financial systems. It will help CBS deepen its expertise and advance Somalia’s financial sector reforms.

We thank Governor Soraya Munyana Hakuziyaremye (@SorayaMHlive ) and the National Bank of Rwanda for their partnership and look forward to translating this agreement into practical cooperation and tangible benefits for both institutions.

#Somalia #Rwanda #CentralBankRw #CentralBanking #FinancialStability #DigitalFinance

[Dr Fawziya Abikar @AbikarDr]

Congratulations!

[Hussein Shuaib @HusseinShuaib14]

"Waxaan magaalada Muqdisho uga qayb galay Shir Cilmiyeedkii Afraad ee Siyaasadda Dhaqaalaha, kaas oo lagu falanqeeyay arrimo muhiim u ah horumarinta dhaqaalaha, siyaasadaha maaliyadeed, gaabisyada suuqa maaliyadda iyo xoojinta xasilloonida maaliyadeed ee dalka.
@BangigaDhexe

[Hussein Shuaib @HusseinShuaib14]

It is great opportunity to attend the 12th AFIIA Conference in SA & led the CBS Delegate. key aspect is to advancing the role of Internal Auditors across Africa through collaboration and knowledge sharing.
#ExcellenceinGovernanceAccountability.
One IIA, One Africa, One Voice 🌍

[Hussein Shuaib @HusseinShuaib14]

Another big important milestone in advancing financial integration and simplifying cross‑border payments across Africa.
#PAPSS
#CBS

[Pan-African Payment And Settlement System - PAPSS @papss_africa]

📣 Big news! Expanding the PAPSS network in 2026 with Somalia joining!
Somalia 🇸🇴 has officially joined the Pan-African Payment & Settlement System - PAPSS network.

We are pleased to welcome the Central Bank of Somalia to the #PAPSS network, marking an important milestone in advancing financial integration and simplifying cross‑border payments across Africa.

With Somalia’s inclusion, PAPSS now spans 21 countries across the continent, reinforcing its commitment to enabling faster, more secure, and local‑currency cross‑border transactions.

This milestone unlocks new opportunities for African businesses and citizens, while supporting the growth of intra‑African trade under the AfCFTA framework.
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📣 Nous franchissons une nouvelle étape en 2026 avec la Somalie qui rejoint le réseau #PAPSS !
La Somalie 🇸🇴 a officiellement intégré le Système de Paiement et de Règlement Panafricain - PAPSS.

Nous sommes honorés d’accueillir la Banque Centrale de Somalie au sein du réseau #PAPSS, marquant une avancée significative dans le renforcement de l’intégration financière et la simplification des paiements transfrontaliers à travers l’Afrique.

Avec cette nouvelle adhésion, PAPSS étend désormais sa présence à 21 pays sur le continent, consolidant son engagement à rendre les paiements transfrontaliers plus rapides, plus sécurisés et effectués en monnaies locales.

Cette intégration ouvre de nouvelles perspectives pour les entreprises et les citoyens africains, tout en soutenant activement le développement du commerce intra‑africain dans le cadre de la ZLECAf.

#PAPSS #Somalia #CentralBankOfSomalia #Afreximbank #AfCFTA #AU

[Central Bank of Somalia @CentralBankSo]

The Central Bank of Somalia (CBS) held its ordinary Board meeting on 24 March 2026. The Board approved licensing applications for three non-deposit-taking microfinance institutions, three Takaful operators, and one new money transfer business, alongside the CBS Investment Guidelines, as part of ongoing efforts to strengthen regulation, financial inclusion, and institutional governance.

#CBS
#BoardMeeting
#Somalia
#Investment

[Abdirahman Mohammed Abdullahi @AbdirahmanM_A]

An important milestone for CBS in strengthening information security, resilience, and alignment with international best practice.👏

[SNTV News @sntvnews1]

As Coordinator of the A3, FM H.E.
@AbdisalamDhaay
chaired the 6th A3 Ministerial Meeting with Liberia and DRC, reaffirming Africa’s agency at the UN Security Council and strengthening AU PSC–A3 coordination for a united voice and engagement, and multilateralism.

[Abdirahman Mohammed Abdullahi @AbdirahmanM_A]

A major milestone for Somalia’s financial sector: CBS has issued the first-ever licenses for Takaful services, bringing the insurance sector under a Shari’ah-compliant supervisory framework and strengthening consumer protection and confidence.

[Hussein Shuaib @HusseinShuaib14]

IMF Executive Board Concludes the Fourth Review of the Extended Credit Facility Arrangement for Somalia and Approves the Request for Augmentation https://t.co/x2nxxpxgXs

[Central Bank of Somalia @CentralBankSo]

The CBS Board of Directors recently approved key measures to deepen inclusion and oversight at its ordinary meeting.

•Granted the first licenses to seven microfinance institutions (MFIs)
•Approved a license for a new money transfer business (MTB)
•Reviewed CBS’s Q3-2025 financial report

More information on MFI licensing: https://t.co/qMHJjohQDW

[Central Bank of Somalia @CentralBankSo]

𝐓𝐡𝐞 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐒𝐨𝐦𝐚𝐥𝐢𝐚 announces that effective 1 Sept 2025, all bank new account openings in Banadir Region require a valid NIRA-issued National ID. This measure strengthens eKYC and combats illicit transactions. For more info, please read the ful 𝐏𝐮𝐛𝐥𝐢𝐜 𝐍𝐨𝐭𝐢𝐜𝐞 Release here:
https://t.co/2krm5j7Rw0

#𝐂𝐁𝐒
#𝐍𝐈𝐑𝐀
#𝐒𝐁𝐀
#𝐏𝐮𝐛𝐥𝐢𝐜𝐍𝐨𝐭𝐢𝐜𝐞

[Ministry of Hajj and Umrah @MoHU_En]

The Prophet (PBUH) said:
“The closest of people to me on the Day of Judgment are those who send the most blessings upon me.”

#Ease_And_Tranquility

[Ministry of Foreign Affairs 🇸🇴 @MOFASomalia]

June 26 – The northern regions of Somalia gained independence.
July 1 – The southern regions of Somalia gained independence.
July 1 – The northern and southern regions united to form the Somali Republic.
🎉 July 1 – Celebrated as Somalia’s Independence Day.
#Somalia #Somali 🇸🇴

[SNTV News @sntvnews1]

#Mogadishu Stadium is packed with football fans and youth who are there to watch three African football legends play a match: Samuel Eto’o, Emmanuel Adebayor, and Jay-Jay Okocha.

[Hussein Shuaib @HusseinShuaib14]

A major milestone for CBS on strengthening and expanding financial sector, and providing opportunities for industry stakeholders.!

[Central Bank of Somalia @CentralBankSo]

The CBS Board of Directors approved key regulations to expand supervisory oversight. This includes bringing Microfinance Institutions and Insurance (Takaful) Operators under CBS regulation. Approved regulations:

1. Licensing of Non-deposit Taking Microfinance Institutions

[Central Bank of Somalia @CentralBankSo]

President @HassanSMohamud has enacted four major economic laws on Insurance(Takaful), Income Tax, Financial Institutions, and AML/CFT. The reforms strengthen Somalia’s financial sector, expand CBS oversight role, enhance investor confidence, and promote inclusive economic growth.

[Hussein Shuaib @HusseinShuaib14]

Participating IMF ECF at Nairobi. CBS plays critical role in efforts to enhace good governance, continues economic reforms and Efective debt management which is critical to Somalia's tranaformation to a prosper country.@CentralBankSo

[Central Bank of Somalia @CentralBankSo]

A CBS team led by the Governor is participating in the ongoing review of Somalia’s IMF-supported ECF program, as part of the Federal Government delegation. The discussions focus on reform progress and priorities to advance economic stability and inclusive growth.

#Somalia
#IMF

[Hussein Shuaib @HusseinShuaib14]

@CentralBankSo The program discussed critical topics including technology changes, artificial intelligence and data analytics and IIA global standards.

[Hussein Shuaib @HusseinShuaib14]

Attending Internal Audit and Risk Workshop at the FRBNY. Engaging professional peers and learning from international partners provides CBS with a great opportunity to further enhance transparency and good governance practices. @CentralBankSo