Somalia’s National Identification and Registration Authority (NIRA) has partnered with Banks in the country to advance digitalization and financial inclusion.
The move will be facilitated by the country’s digital identification system that was launched in September 2023.
The collaboration aims to integrate the Somali National ID system with the banking sector, marking a significant step toward fostering inclusive economic growth and enhancing financial security.
Deputy Prime Minister of the Federal Government of Somalia, Salah Ahmed Jama, who delivered the keynote address emphasised the central role of the national ID card in the National Transformation Plan (NTP).
The NTP is still under formulation process.
He said the partnership between NIRA and Bankers Association will align the East African country with the global financial system.
“The agreement with the Somali Bankers Association is a major step towards formally integrating the Somali economy with global financial systems,” Jama said.
NIRA Director General, Abdiweli Tima'adde in his opening remarks, highlighted the transformative potential of the partnership, emphasizing the joint commitment to leveraging the modern National Digital Identification system to enhance banking services across the country.
He also addressed the implications of the collaboration with Banks, the strategic plan to bring registration and National ID issuance closer to the public, and the critical contributions of key stakeholders in driving economic development and ensuring access to modern, secure financial services that comply with international standards.
Minister of Interior, Federal Affairs, and Reconciliation Ali Yusuf and his Communications and Technology counterpart Mohamed Adan Moallim said the initiative will bolster financial security, increasing public trust, and ensuring adherence to international regulatory standards.
Moallim praised NIRA’s efforts in implementing KYC-ID for end-user identification and noted that the data centre, nearing completion, will further enhance the system’s effectiveness.
Yasin Ibar, CEO of the Somali Bankers Association, expressed enthusiasm for the agreement, highlighting its importance for correspondent banking and KYC regulations.
He acknowledged the collective efforts of the banks and NIRA in advancing digitalization and financial inclusion.
Since the 1991 civil war, Somalia has struggled to have in place a robust identification system.
The reconstitution of the National Identification and Registration Authority has, however, played a vital role the Somali government’s transformation agenda that aims to unify and modernize national identification.
Present at the ceremony were the country’s Deputy Minister of Finance, Abdiqafar Elmi Hange, Governor of the Central Bank of Somalia Abdirahman Mohamed Abdullah, and the World Bank Country Manager for Somalia Kristina Svensson, among other stakeholders.
