Somalia’s Finance Ministry Says National Currency Will Be Printed Soon

MOGADISHU, Somalia — Somalia’s Upper House of Parliament has reviewed proposed amendments to the Central Bank Law and continued deliberations on legislation to establish a national environmental management authority.

The Senate held its 11th sitting of the eighth session, chaired by Speaker Abdi Hashi Abdullahi and attended by Second Deputy Speaker Abdullahi Ali Hirsi Timacadde.

During the session, senators conducted the first reading of a bill seeking to amend Central Bank Law No. 130 of 2012, submitted by the Ministry of Finance.

Finance Minister Bihi Iman Egeh presented the proposed legislation, outlining its importance in developing and strengthening Somalia’s financial system.

The Senate also considered the second reading of a bill establishing the Environmental Management Authority.

Senator Saynab Ismail Mohamed, chairwoman of the Senate’s National Resources Committee, presented the committee’s report, detailing amendments and corrections made during its review of the proposed legislation.

Senators subsequently debated the environmental management bill, offering recommendations on provisions they believe require further revision to ensure the legislation is consistent with the Constitution and protects the country’s broader interests.

The session comes as Somalia continues efforts to strengthen its financial and institutional frameworks through legislative reforms.