Regulatory Alerts2025-06-10
Corporate Governance Guidelines for Banks
The Central Bank of Somalia establishes minimum corporate governance standards for all licensed banks, reinforcing existing legal frameworks through structured board oversight and senior management accountability. The guidelines mandate independent risk, compliance, and internal audit functions alongside transparent disclosure and performance-based compensation to mitigate operational exposures. Licensed institutions must implement these requirements on both individual and consolidated bases to ensure long-term financial soundness and effective regulatory supervision.
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