Published On: Mon, Dec 4th, 2017

The Somaliland Central Bank Held Second Phase of Score Project Planning In Maan-soor Hotel (Photos)

Hargeisa (BMC)- The Second Phase of the Score Project (Somaliland Regulatory Week For Strengthen Financial Institutions Regulations and Supervisions has held in Maan-soor Hotel ,  This  Meeting was focus on Three Main Areas of Somaliland Central Bank like 1-AML 2-Money Landry  Remittance  and  3  Money Bill.

This Meeting participated The General Director of Central Bank Abdullah Hassam Saed Mohamed Elmi from Financial Committee of the Parliament who is expert for financial, Somaliland Remittance Association Leaders, Private Banks and Ministry of National Planning and Development.

This Score Project is part of World Bank and it gives support to Somaliland Central Bank instead of recapping the gaps which exists part of the Central Bank and needs to be recapped as developing Central Bank Rules to operate such like other International Banks.

Abdurrahman Musa is the head of Supervision Team of Somaliland Central Bank and he gave father explanation objectives of this phase two meeting to the paricipants “today we are her our phase two of Score Projec” he said and pointed out interducing E&Y Experts to the guests  whose from different Financial institutions and what they will donate to inverting and recapping to the part of Somaliland Central Bank Rules “those Ersnt Young are here to do recapping and substitution to the part of Central Bank regulation” he said.

The Director General Of the Somaliland Central Bank Abdullah Hassan has give his remark first and thanks for Participants for their commitment  to take part the second phase of the Score Project which is to emphasize Rules of the Central Bank including the main above three points and other extra explanations which is relating to the Bank Rules.

Mr Hassan mentioned as he director General of the Somaliland Central Bank feeling too pleasure for his opening this second phase of Score Project which is empowering the Central Bank rules “if we are the Central Bank and other financial institutions are very happy to be here today and  open  the second phase of Score Project” he told.

The Director General highlighted that Somaliland Central Bank had some benefits from the first phase of this Score Project and now he hopes this second meeting will be more fruit-bale “today we are here recapping and subtracting of the Central Rules and this meeting and other like it will take over promote our financial institutional systems” he said.

Mr Hassan also mentioned this meeting is focusing on to initiate how public and private sector supportive and touchable will come out at the end of this three days meeting of second phase of score project

Richard Midikira – Financial sector specialist, Ersnt & Young has presented a precious presentation which was currying on how this will be look like if this initiative Score Project correctly implemented whole areas of Central Bank Rules those we above mentioned .

Also Ms Maria Torrado – Financial sector specialist, Ernst & Young , Sonal Sejpal – Legal expert, Anjarwalla & Khana are head officials from World Bank who is bushing this Sore Project has gave presentation like which is not so far from what Mr Richard also underlined  the important of tight regulations should be necessary  to apply by the Somaliland Central Bank in order to get in touch  the modern world Banks.

Also  the Bank rankles including Supervision department  have more  questions to the World Bank Rankles especially Ms Anjarwalla whose presented long time presentation since she is very expert for Banking system and financial regulations like who has the right to nominate the Governor of the Central Bank is it the President or the Parliament? and the licence regulatory.

 

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