Salaam Somali Bank

Salaam Somali Bank
Private company
Traded as Islamic banking services provider
Industry Banking, finance
Founded 2009
Headquarters Mogadishu, Somalia
Products Loans, debit cards, ATM
Number of employees
 300 ( up to Jan.2016)
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 2 3 "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.
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