Three non-executive directors of the Somali central bank have tendered their resignations following the reappointment of Governor Abdirahman Mohammed Abdullahi for a second four-year term.
Sakhawadin Mustafe Mohamed, Osman Salad Gabeyre, and Àbdisamad Nur Hassan, who held crucial positions overseeing the central bank’s operations, cited personal reasons for their unexpected departures.
The sudden resignation of these board members has raised concerns and sparked speculation about the reasons behind their decisions.
Abdullahi, a finance and banking veteran, has played a significant role in implementing vital economic reforms since his initial appointment in July 2019. He boasts an illustrious career that began in 1986 within the Somali government. He has been credited with supporting the nation’s financial reforms while serving as the Prime Minister’s senior economic policy adviser.
The CBS Governor, holding dual Somali-Norwegian citizenship, holds a bachelor’s degree in Business Administration from the Norwegian University of Technology and Science and a Masters in Finance and International Banking from John Moores University in Liverpool. Abdullahi’s impressive resume showcases diverse experiences in both the public and private sectors in Norway, the United Kingdom, and Yemen.
The departure of these experienced board members has raised concerns about its governance and decision-making processes, with economists, policymakers, and financial institutions closely monitoring the situation to gauge potential impacts on the bank’s functioning.
