Somaliland: Central Bank Expands Services to Odweine


The regional offices of the Ministry of Environment and Rural Developmet in Dhadmadeed region among beneficiaries of Somaliland Central Bank Services

By: Latifa Yusuf Masai
ODWEINE (Somalilandsun) – Government officials and Residents of Dhadmadeed region shall no longer have to travel Burao the capital of Togdheer region in order to access Central Bank Services.
This was stated by the Dhadmadeed regional governor Ali Awil Abdi following a meeting with a visiting central government team from Hargeisa composed of bank and finance ministry officials am9ng others.
“The establishment of a central bank branch in Odweine shall ease public service profusion as well as improve economic growth in Dhadmadeed region” said Governor Ali Awil as he revealed that a regional central bank branch in Odweine is expected to start operations by June 2015.
The construction was initiated by the tea from Hargeisa at the site in which president Ahmed Mahmud Silanyo laid the facilities foundation stone during a meet the people cum development inspection visit recently.

A regional government department in dhadmadeed under assesement
“May 2015 shall see the last payment of fuel costs and allowances by the Dhadmadeed regional administration and local governments for purposes of securing operational funds and other banking services in Burao” said the Governor adding that most of relief was the deposit of revenue collected by the local councils in his region.

The bank officials, who also made an assessment of various departments of the regional government in Odweine being main clients, said that they were satisfied by operational viability within both public and private sectors.
Accessing share from the national budget as well as banking for both Regional administration and local governments has entailed crisscrossing to and From Burao that regional capital of Toghdeer region of which the nascent Dhadmadeed region was heaved from.

Site of the Somaliland central bank building in Odweine town
The Burao Banking dilemma has in turn been of not only immense costs through payment of unnecessary Fuel and nights out allowances but responsible for massive lose of man-hours course of officers traversing between Odweine and Burao on almost a daily basis.
While having a central bank regional branch in Odweine town is very important towards ease of public funds transaction by both residents and public service in the form of regional and local council administrations the irony is the site is now under
Watch the Dhadmadeed Region Central Bank team assessment.