Hiiraan Online
Sunday September 1, 2019
MOGAISHU (HOL) - With Somali government’s recent move to overhaul its institutions with the appointment of new officials, HOL has exclusively learned from reliable sources that former Villa Somalia deputy Chief of Staff for Administration and Finance Abdirisaaq Hussein Aato is set to be appointed for the deputy governship post of the Somali Central Bank.
According to reliable information HOL has obtained from officials in the Central Bank, the post set to be appointed for Abdirisaaq Aato is currently held by Maryan Abdullahi Yusuf who is also a member of the board of directors of the Central Bank. The source further adds that Office of the Prime Minister proposed this nomination and subsequently made formal request to the President for the ratification of the appointment. The Office of the Prime Minister previously picked the current Central Bank Governor Abdirhahman Mohamed Abdullahi who before assuming this post was senior economic advisor to the Somali Prime Minister Hassan Ali Kheyre. Mr. Abdirahman Abdullahi was also a panel member of the committee tasked to oversee the hiring process of the Somali Central Bank Governor, but eventually got the post himself, albeit bulk of other candidate who applied for the position including both experienced Somali and non-Somali applicants.
The appointment is still bending due to the approval of the president being awaited. The now proposed deputy Central Bank Governor was an aide to Fahad Yasin, the current Somali Intelligence Chief when he was Chief of Staff at Villa Somalia, later, Mr Aato was dismissed as the deputy Chief of State House for Finance and Administration.
Many people are wondering what might have led to the appointment of individuals from the Offices of the Prime Minister and president to key financial institutions at a time Somalia is anticipating a debt relief from international financial institutions and countries it owes to long-standing debt.
Somali Government previously advertised the post of the Central Bank governor on international publications for about $25000 and received various applications, however a Central Bank bill was amended by the parliament with a clause banning foreign governors to the Central bank omitted, leading to the speculation that a foreigner might be appointed to lead the bank, but later Abdirahman Abdullahi, who was the then economic advisor to the PM was appointed.
Some of the tasks awaiting the central bank is the printing of a new Somali currency, a process that has been bending for many years, The current Somali shilling is no longer in circulation due to the shortage of new bank notes.