Yussur A.F. Abrar

Yussur A. F. Abrar
يوسور الابرار
Governor of the Central Bank of Somalia
In office
13 September 2013 – 1 November 2013
President Hassan Sheikh Mohamud
Preceded by Abdisalam Omer
Succeeded by Bashir Isse
Vice-President at Citigroup
Vice-President of Credit Risk Management at American International Group
President of Warsun International Communications Corp.
Personal details
Alma mater Oklahoma State University

Yussur A. F. Abrar (Somali: Yusuur Abraar, Arabic: يوسور الابرار‎‎) is a Somali banker and entrepreneur. She previously served as Vice-President at Citigroup, as well as Vice-President of Credit Risk Management at the American International Group in New York City. Abrar is also the founder and President of Warsun International Communications Corp. From September to November 2013, she was the Governor of the Central Bank of Somalia.

Background

Personal life

Abrar was born in the northwestern town of Borama, Somalia.[1] She hails from the Gadabuursi/Samaroon clan.[2]

She later pursued her post-secondary education in the United States, earning a bachelor's degree from the Oklahoma State University. She also holds an M.B.A. from the same institution.[3]

Early career

In a professional capacity, Abrar has over three decades of experience in banking, risk management and insurance.[3]

She is the founder and President of Warsun International Communications Corp., a telecommuncations company with a focus on internet accessibility.[4][5] As of 2002, the firm was headquartered in Vienna, Virginia and employed around 50 workers.[6]

Abrar previously also acted as the Vice-President at Citigroup.[3] Additionally, she was Vice President of Credit Risk Management at the American International Group (AIG) in New York City, one of the world's largest insurance companies.[3][7]

Abrar has likewise served as a financial consultant.[3]

Central Bank of Somalia

On 13 September 2013, Abrar was appointed the Governor of the Central Bank of Somalia by incumbent President Hassan Sheikh Mohamud. She succeeded Abdisalam Omer in the position and is the first woman to have been appointed to the post.[3]

Abrar's first announced priorities included revitalizing the national financial system through the issuance of licenses to banks and other financial institutions, collaborating with stakeholders on the remittance market, strengthening the regulation framework to ensure fiscal responsibility and transparency, and instituting monetary policy vis-a-vis job creation to galvanize economic development and growth.[3]

On 1 November 2013, Abrar stepped down from her position as Somalia's Central Bank Governor. In a formal letter of resignation, she cited interference with the bank's functions as among the main reasons for her departure, as well as pressure to sanction deals that she believed were in violation of her fiduciary responsibility as head of the national monetary authority.[8] Abrar was succeeded at the position by Bashir Isse, who was appointed on 27 November 2013.[9]

Notes

  1. ↑ "MUQDISHO: Madaxweynaha Somaliya Oo Badalay Gudoomiyihii Baanka Dhexe Ee Somaliya Iyo Haweenay Aqoon Sare Leh Oo Xilkaasi U Magacaabay". Borama News. 15 September 2013. Retrieved 4 December 2013.
  2. ↑ Yussur Abrar (Dir/Gadabursi), who hails from Borama in Somaliland http://www.africaintelligence.com/ION/politics-power/2013/11/08/yussur-abrar-did-not-last-long,107993799-ART
  3. 1 2 3 4 5 6 7 "Somali President Appoints First Female Central Bank Governor". Keydmedia. 13 September 2013. Retrieved 16 September 2013.
  4. ↑ Jette, Julie. "Special Report - Entrepreneurial Ventures in Africa (Digital Divide) - Across the Digital Divide, Bit by Byte". Harvard Business School. Retrieved 16 September 2013.
  5. ↑ "Warsun International Communications Corp., is extremely pleased to announce the appointment of Niles E. Helmboldt as Chairman of its Board of Directors". Yussur Abrar, Warsun International Communications Corporation. Retrieved 16 September 2013.
  6. ↑ "Africa Can Get Out of Poverty". Africa News Service. 25 March 2002. Retrieved 16 September 2013.
  7. ↑ "American International Group (AIG) Company Directory of Business Contacts". Data.com. Retrieved 17 September 2013.
  8. ↑ Manson, Katrina (1 November 2013). "Somalia central bank governor resigns after seven weeks". Financial Times. Retrieved 2 November 2013.
  9. ↑ "SOMALIA: Bashir Isse appointed as the new Central Bank Governor". Raxanreeb. 27 November 2013. Retrieved 27 November 2013.

References

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