Mogadishu, Somalia — In its weekly session, Somalia's Council of Ministers, under the leadership of Prime Minister Hamsa Abdi Barre, delved into a comprehensive review of the nation's strategies and achievements in combating terrorism and financial crimes.
The primary focus was on disrupting the financial networks supporting Al-Shabaab, a terrorist group that has long plagued the region with its insurgent activities.
The meeting took place against the backdrop of the ongoing implementation of the National Transformation Plan (NTP 2025 - 2029), which aims at development with a significant emphasis on bolstering security.
The Somali National Army has actively engaged in operations to dismantle Al-Shabaab's control, liberating key areas which reduces their operational and financial capabilities.
The government, in coordination with international bodies like the U.S. Department of the Treasury's Office of Foreign Assets Control, has targeted individuals and entities laundering money for Al-Shabaab. Recent efforts have focused on how the group uses remittance systems, banks, and mobile money services to fund their operations.
Legislative progress includes the implementation of anti-money laundering and counter-terrorism financing laws, with the establishment of the Financial Reporting Center playing a crucial role in monitoring and reporting suspicious transactions. The council reviewed the effectiveness of these legislative tools in safeguarding the financial sector.
International cooperation was highlighted as essential, with collaborations with regional and global entities like the African Union Transition Mission in Somalia and various financial regulatory bodies. These partnerships aim at enhancing not just local but transnational security.
Prime Minister Barre emphasized the government's resolve to continue these efforts, stating that peace and economic stability are interlinked. He stressed the need for a robust financial system to attract foreign investment and foster economic growth.
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The session concluded with directives for further action, including intensifying military operations against Al-Shabaab, enhancing financial oversight, and engaging more with the international community.
There was also a push for more public education initiatives to inform Somalis about the dangers of terrorism financing and money laundering, aiming to build a national consensus against these threats.
This meeting underscores Somalia's commitment to not only address immediate security threats but also to implement systemic changes to deter future terrorist activities and their financial support.
