Somalia’s Financial Intelligence Unit Eyes Robust Financial System Free from Crimes

Rebuilding Somalia’s Financial System and Restoring Global Credibility

The Financial Reporting Center (FRC), Somalia’s Financial Intelligence Unit (FIU), is committed to becoming a trusted and exemplary agency in its quest to rebuild the country’s financial system and restore credibility in the global financial networks.

Core Values

The FRC’s core values are centered around:

Confidentiality
Professionalism
Integrity
Transparency and accountability
Excellence

These values guide the unit’s mission to deliver quality information and surpass ordinary standards in its dealings. The FRC has identified critical success factors that must be achieved for outcomes to be successfully attained and sustained.

Critical Success Factors

The key elements include:

Transformative leadership in place
Clear understanding of strategy by all involved parties
Strengthened coordination and translation of strategic plans into annual budgets
Aligned organizational structures with strategy
Leadership commitment and drive
Attraction and retention of skilled human resources
Reliable financing for identified initiatives
Effective communication with key stakeholders

Mission to Combat Financial Crimes

As Somalia’s premier financial intelligence unit, the FRC is dedicated to analyzing suspicious financial activities and investigating financial crimes in support of a robust financial system hostile to such illegal activities. The unit is guided by its vision to help rebuild Somalia’s financial system and restore its credibility in global financial networks.

A Bright Future Ahead

With these values and critical success factors in place, the FRC is poised to make significant strides in its mission to combat financial crimes and build trust in the country’s financial sector.