MOGADISHU (Halbeeg News) – The battle for the post of the governorship of Central Bank of Somalia is beginning to take shape as the contract of the incumbent governor in November.
In 2009, the Somali government revived the bank as part of its campaign to restore the national institutions.
In an advertisement posted on The Economist, the Bank said It seeks a competent candidate to fill the position in the cash-rich agency whose head is nearing expiry after attaining the mandatory terms of 4 years.
“Somalia is emerging from conflict and rebuilding its economy, including its key economic institutions. The position of Governor of the Central Bank of Somalia (CBS) will fall vacant on November 1, 2018,” the Bank says, “The new Governor will lead the CBS through major ongoing reforms, including the issuance of a new national currency, rebuilding the CBS’s institutional capacity, developing monetary instruments, and implementing the CBS’s mandate, which includes the development of financial intermediation and regulation of the financial system.”
According to the advert, the Governor who is the chief executive officer of the CBS will be responsible for the management of the bank under the general direction of the Board of Directors.
The Governor also serves as the Chair of the Board and is the principal representative of the CBS in its relations with the Federal Government of Somalia, other public entities, and bodies and international financial institutions.
Bashir Isse Ali who has been serving the office since 2013 was appointed by former Prime Minister Abdi Farah Shirdon.
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