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The Central Bank of Somalia was established on June 30, 1960 by Decree No. 3 and converted into Law No. 2 of January 13, 1961. The Bank follows the objectives of fostering monetary stability, maintaining the internal and external value of the Somali Shilling, and promoting credit and exchange conditions conducive to the balanced growth of the economy of the Republic, and within the limits of its power, it shall contribute to the financial and economic policies of the State.
Central Bank Governor: Abdillahi Hagi Jama Ali