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Somalia and Turkey have signed an agreement to boost cooperation in the exchange of financial intelligence. The deal, formalized in Ankara, brings together Somalia’s Financial Reporting Center and Turkey’s Financial Intelligence Unit (MASAK) and is a major step in fighting financial crimes such as money laundering and terrorism financing…
The signing ceremony was attended by high-ranking officials, including Somalia’s Ambassador to Turkey, Fathu’diin Ali Mohamed, and the heads of both countries’ financial intelligence agencies: Amina Mohamed Ali, Director of Somalia’s Financial Reporting Center, and Hassan Keymak, Director of Turkey’s MASAK.
The agreement focuses on preventing financial crimes through the timely sharing of data and expertise. In a statement, the Somali government highlighted the importance of the agreement in fortifying efforts to prevent money laundering and terrorist financing, “This agreement amplifies our mutual commitment to fight financial crime, specifically targeting the flow of funds used to support illegal activities, including terrorism.”
The partnership aims to streamline financial intelligence collection, analysis, and exchange, ensuring a coordinated response to financial crimes affecting both countries. Somalia and Turkey also agreed to collaborate on training programs, workshops, and capacity-building efforts designed to improve the skills and efficiency of their financial intelligence units.
