Salaam Somali Bank

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

Salaam Somali Bank
TypePrivate company
Islamic banking services provider
IndustryBanking, finance
Founded2009
HeadquartersMogadishu, Somalia
ProductsLoans, debit cards, ATM
Number of employees
300 ( up to Jan.2016)
Websitewww.salaamsombank.com

Overview

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

Salaam Somali Bank herein SSB, is an Islamic bank which targets both consumers and businesses BtoC/BtoB, 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]

SSB established new branches in The last 3years. the bank expanded well when to compare 2012. 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 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. "About us". Salaam Somali Bank. Retrieved 9 October 2014.
  2. "Salaam Somali Bank". Halal Stock. Archived from the original on 9 October 2014. 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. Archived from the original on 5 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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