A significant portion of the Somali population relies on remittances, estimated at $1.2 billion annually, which constitutes about one-third of the country's GDP and surpasses aid and foreign direct investment combined. Domestic credit to the private sector is notably low at 4.4% of GDP, compared to higher averages in fragile and conflict-affected countries and Sub-Saharan Africa. An IFC assessment in 2022 revealed limited financial inclusion, with only 9% of individuals and 42% of MSMEs having bank accounts, and even fewer obtaining loans. Conversely, 73% of adults use mobile money. Commercial banks primarily lend to large companies and select retail clients, struggling to create risk assets due to a lack of creditworthiness information. The credit application process is resource-intensive and inefficient, leading to high rejection rates. The private financial sector lacks adequate tools to assess risks, resulting in reluctance to finance MSMEs and individuals. Data analytics for credit risk underwriting is nascent, with limited use of scoring applications. There is an opportunity to introduce scoring and value-added services, leveraging mobile money and alternative data sources to enhance credit underwriting and address information asymmetry. This project aims to support the Central Bank of Somalia in establishing a credit infrastructure ecosystem [that is, Credit Information System (CIS) and a Secured Transactions and Collateral Registry (STCR)], enhancing the legal and regulatory framework, and building stakeholder capacity. It will explore alternative data for credit decision-making and portfolio monitoring, contributing to a more robust financial sector, greater access to credit, and economic growth in Somalia.