Mogadishu, (SONNA) – The Central Bank of Somalia (CBS) has officially joined the World Bank’s Reserve Advisory and Management Partnership (RAMP), becoming the 79th member in a network of global central banks, financial institutions, and pension funds.
The Governor of the CBS, Abdirahman Mohamed Abdullahi signed the agreement during the 2024 Annual Meetings of the World Bank and IMF in Washington, D.C. He remarked, “Joining RAMP is a significant step in strengthening CBS’s institutional capacity, underscoring our commitment to reform, and adopting global best practices in reserve management —aligning with our vision to build a stable, prosperous financial system.”
Prudent reserve management is essential for Somalia’s future.
