Somaliland and Taiwan have strengthened their financial and diplomatic cooperation.
According to a press release from the Central Bank of Somaliland, the Chairman of the Central Bank of somaliland, Abdinasiir Ahmed xirsi, had a high level meeting with the Deputy Minister of Foreign Affairs of Taiwan, Ambassador Wu Chih-chung François, and other higher officials.
The meeting held on strengthening the private relations between the two countries, with the two sides – the Bank of Somaliland and the Foreign Ministry of Taiwan – put together a new cooperation with Finance, Trade and Technology.
The chairman of the Bank mentioned the role he played in the foundation of the cooperation and ties between Somaliland and Taiwan in the year 2019 when he was the director general of the ministry of foreign affairs of Somaliland, he described how the relations between the two countries are today. Built on confidence, self respect and shared goals.
He also indicated that the cooperation of finance, trade and technology is important for the economic growth of the two countries Somaliland and Taiwan.
Also the Chairman of the Bank of Somaliland and his delegates visited the central headquarter of Taiwan Central Deposit Insurance Corporation (CDIC), the Somaliland delegation warmly welcomed Mr. Tien-Mu Thomas Huang, the chairman of the CDIC, the executive chief executive officer Annie Cheng, and the deputy chairman of the executive officer. Yvonne Y.\n Fan, who shared their experience with Somaliland delegates about the Insurance Systems of Bananas and other Financial institutions to manage the risks keenly, both sides agreed to improve the cooperation through a MoU between the Bank of Somaliland and the Agency (CDIC).
The governor of the Banks during his stay in Taiwan, he also had talks with him.
1. Central bank of Taiwan (Central Bank of Taiwan).
2nd time. 2nd time Financial Supervisory Commission (FSC) in Taiwan,
3.\n Taiwan Central Reserve Insurance Agency (CDIC).
These meetings were successfully completed with the formation of partnerships based on experience-sharing, technical support, development of modern financial infrastructure, and facilitating Somaliland’s payment systems and exchange of international currency with SWIFT.
The Central Bank of Somaliland and the Financial Institutions of Taiwan will soon sign agreement with MoUs to make real and realise the promises and understanding between the two sides, and it is expected that the Central Agency of Taiwan (CDIC) will soon be It will be the first institution, which will help establish Somaliland’s Insurance System, if Allah wills.
Gebogababadi, the chairman of the Central Bank of Somaliland said that this cooperation will lead to openness and development of the Finance team of Somaliland which will bring a lasting economic growth.
The Chairman was accompanied by the Ambassador of Somaliland to Taiwan, Mr. Mohamud Adan Jaamac Galaal, and Mr. Mohamoud Ahmed Mohamed, the senior advisor of the Central Bank of Somaliland” was said in the press release.
Somaliland Central Bank Governor Abdinasir A. Hersi held a consultative meeting with Ambassador Wu Chih-chung François, Deputy Minister and Acting Minister of Foreign Affairs of Taiwan, together with senior officials of the Ministry.
Their discussions reaffirmed the special relationship between Somaliland and Taiwan and highlighted new areas of cooperation in the financial sector.
