SOMALIA’S PREMIER FINANCE TRAINING INSTITUTE LAUNCHED TO BOOST COMPLIANCE AND GOVERNANCE
Introduction
Mogadishu, Somalia - In a bid to strengthen financial management and governance in Somalia’s public sector, the Institute of Financial Management and Good Governance (IFIN) has been established as a premier training institution for finance professionals.
Background
The institute was registered under the Ministry of Finance, Federal Government of Somalia, in 2021. IFIN aims to provide high-quality training programs that equip financial professionals with the necessary skills and knowledge to excel in their roles.
Key Objectives
- Provide high-quality training programs that equip financial professionals with the necessary skills and knowledge to excel in their roles
- Offer verified diplomas to finance professionals across federal member states and regional administrations in Somalia
- Foster an organization’s responsiveness to change through effective hands-on methods and valuable training tools for organizational improvement
Curriculum
IFIN’s curriculum covers a range of topics, including:
- Public policy
- Financial management
- Governance
- English competency
- Civil service
- Leadership
- Other high-demand skills
Governance Structure
The minister of finance for the Federal Government of Somalia will serve as the president of IFIN’s board. An executive team will be responsible for administering and implementing the institute’s academic programs, while an academic advisory committee will assist in creating and maintaining a research environment to support financial management, governance, and beyond.
Mission and Vision
“Our goal is to become a premier resource center that meets all training needs for the Federal Government of Somalia, including the Ministry of Finance and Central Banks,” said Tony Nguyen, co-founder of IFIN. The institute’s mission is to provide valuable training tools for organizational improvement, deliver effective hands-on methods, and foster an organization’s responsiveness to change.
Impact
The establishment of IFIN is seen as a significant step towards enhancing financial management and governance in Somalia, with the potential to positively impact the country’s economic development.