The Central Deposit Insurance Corporation of Taiwan (CDIC) and the Bank of Somaliland signed a Memorandum of Understanding (MOU) on 18 June 2026. The MOU establishes formal cooperative relations between the two institutions.

CDIC Chairman Tien-Mu Huang and Governor of the Bank of Somaliland Abdinasir Ahmed Hersi signed the MOU on behalf of their respective institutions through a virtual signing ceremony. The ceremony was witnessed by Mr. Mahmoud Adam Jama Galaal, Somaliland Representative to Taiwan, and Mr. Allen Chenhwa Lou, Taiwan Representative to Somaliland. During the ceremony, Chairman Huang emphasized that deposit insurance systems are an important pillar of the financial safety net. He noted that the CDIC is pleased to share Taiwan’s experience in establishing and operating a deposit insurance system and expressed his expectation that the MOU would further strengthen exchanges and cooperation between the two institutions, while contributing to financial stability and depositor protection.

Under the MOU, the CDIC and the Bank of Somaliland will engage in information sharing, personnel exchanges, and the sharing of expertise and experience to strengthen deposit insurance systems and financial safety net capabilities, and to further deepen their cooperative relationship.

Group photo of CDIC Chairman Tien-Mu Huang (top left, left) and President Annie Cheng (top left, right), together with Governor of the Bank of Somaliland Abdinasir Ahmed Hersi (top right) and the delegation of the Bank of Somaliland (bottom).

Group photo of the delegations of the CDIC and the Bank of Somaliland, together with Mr. Allen Chenhwa Lou (bottom right, 1st row, 2nd from the right), Taiwan Representative to Somaliland, and Mr. Mahmoud Adam Jama Galaal (bottom left), Somaliland Representative to Taiwan.