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The President of the Federal Republic of Somalia, H.E. Hassan Sheikh Mohamud has appointed Yussur A.F. Abrar as the country’s first female Central Bank Governor. Ms. Abrar, who is highly regarded in international financial circles, brings over 30 years of experience in banking, insurance, and risk management to the Central Bank of Somalia. A former Vice-President at Citigroup and American International Group (AIG) in New York, as well as an entrepreneur in both telecommunications and financial consulting, she will likely prove an effective resource for the nation, which is facing serious economic challenges. Ms. Abrar has stated her immediate priorities as working with relevant stakeholders to address the impending remittance crisis, rebuilding the country’s financial system by licensing banks and other financial institutions, developing a strong regulatory framework to ensure transparency and fiscal responsibility, and implementing a monetary policy centered on job creation, in an effort to spur economic growth and development. She holds a Bachelor’s degree and M.B.A. in Finance from Oklahoma State University in the United States. |