MOGADISHU (HAN) July 17.2016. Public Diplomacy & Regional Security News. During the year six Somali banks has been working to develop the financial sector in Somalia. The Six Major Somali banks held talks at the Jazeera Palace Hotel to find ways to Cooperate with one another to achieve their goals. The main goal is to work together to improve financial interests of the people and the country.
This is a result of six banks (Amal Bank, Dahabshil Bank, IBS Bank, Premier bank, Saalam World Bank, African Bank Trust) to maintain the common interests of the banks and financial markets. Connect banks, banking cooperation, cooperation in international organizations and financial institutions that serve the interests of society and the protection of Somalia. In Somalia, there have not been private banks before 1991 and this is the first bank association in the history of the banking sector in Somalia. Announcing the association is a witness the development of the country and its people.
The banking sector in Somalia have shown a significant paradigm shift away from traditional means of money transfer. The major six banks bears the critical responsibility of leading the way forward in establishing a stable and dynamic banking system replete with dynamic and cutting-edge products and services.