Salaam Somali Bank

Salaam Somali Bank
Private company
Industry Banking, finance
Founded 2009
Headquarters Mogadishu, Somalia
Products Loans, debit cards, ATM
Website www.salaamsombank.com

The Salaam Somali Bank (SSB) is a bank headquartered in Mogadishu, Somalia.

Overview

Salaam Somali Bank was established in October 2009. It is the first international bank to operate in Somalia since 1991.[1]

A Muslim financial institution, the bank offers personal banking, commercial banking, and non-profit banking.[1] Its Islamic banking services and facilities include Mudharabah, Murabahah and Musharakah. Additionally, the bank offers online banking, mobile banking and debit cards.[2]

In 2014, the institution also began providing automatic teller machine (ATM) services at a location in Mogadishu.[3][4] The devices operate in English, and were at their launch billed as the first of their kind in Somalia.[5][6] However, the separate Salaam Bank institution headquartered in Bosaso already provided ATM services for several years prior.[7]

Services

Salaam Somali Bank's personal banking services include current accounts (personal and salary), as well as savings accounts (Dalmar savings accounts for the diaspora, Hajj-Umra account, and students savings account).[8]

The institution's commercial banking services include business current accounts, Bank Guarantees and Letters of Credit.[9]

Its non-profit banking services include a Trust Account with comprehensive banking solutions for non-governmental organizations, associations, societies and trusts.[10]

The bank also launched a microfinance product (Kalkaal) for small businesses and professionals.[11] Additionally, it offers anti-money laundering protection.[1]

See also

Notes

  1. ↑ 1.0 1.1 1.2 "About us". Salaam Somali Bank. Retrieved 9 October 2014.
  2. ↑ "Salaam Somali Bank". Halal Stock. Retrieved 9 October 2014.
  3. ↑ "Somalia's First ATM Machine Opens In Mogadishu". Fox News. 7 October 2014. Retrieved 9 October 2014.
  4. ↑ "Somalia's first cash machine opens in Mogadishu". BBC. 7 October 2014. Retrieved 4 November 2014.
  5. ↑ "Somalia gets its first cash machine ever". Business Daily. 7 October 2014. Retrieved 4 November 2014.
  6. ↑ "Businessmen from the Diaspora Criticize the ATM Installed by Salaam Bank". Dalsan Radio. 1 November 2014. Retrieved 4 November 2014.
  7. ↑ "Personal Banking". Salaam Bank. Retrieved 4 November 2014.
  8. ↑ "Personal banking". Salaam Somali Bank. Retrieved 9 October 2014.
  9. ↑ "Business banking". Salaam Somali Bank. Retrieved 9 October 2014.
  10. ↑ "Non-profit banking". Salaam Somali Bank. Retrieved 9 October 2014.
  11. ↑ "Microfinance". Salaam Somali Bank. Retrieved 9 October 2014.

External links