Mogadishu, (SONNA) – The Minister of Finance of the Federal Government of Somalia, H.E Bihi Iman Igeh together with the Chairman of the Central Bank of Somalia ahd a meeting with the Financial Committee of the Parliament and Somali Religious Scholars.
The meeting focused on involving Somali religious scholars in reviewing amendments to the Financial Institutions Law (Law No. 130), originally enacted on April 22, 2012. Participants, including the Finance Committee of the House of the People, the Ministry of Finance, the Central Bank of Somalia, and Somali scholars, agreed on the need to align the law with Islamic principles and the best interests of the Somali people.
Somalia’s Minister of Finance, Bihi emphasized that while the law had existed before, it had recently undergone amendments. He highlighted that the revision process had gone through multiple stages and stressed the importance of incorporating scholars’ recommendations to ensure compliance with Shariah law.
The meeting reinforced the government’s commitment to Islamic financial principles and inclusive decision-making in shaping Somalia’s financial regulations.
