Dahabshiil Receives Djibouti Central Bank License to Offer Banking Services PDF Print E-mail
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Tuesday, 01 September 2009 05:41

Dahabshiil is pleased to announce that it has received the authorization of the Central Bank of Djibouti to conduct banking services, which will enable it to take deposits, and offer loans and advances to individuals, businesses and corporate clients. The bank will offer a wide range of financial services including savings and checking accounts, mortgages, personal loans, debit cards and credit cards.

The license further complements Dahabshiil's presence and the range of services in the region. Abdirashid Duale, CEO of Dahabshiil, said "The license marks another milestone in Dahabshiil's success story and its regional commitment. Over the last twenty years, Dahabshiil has established itself as a market leader in international money transfer services, and we are pleased to be in a position to offer these additional banking services to our clients."

Abdirashid added, "I am absolutely delighted that the Central Bank of Djibouti has approved Dahabhsiil's application for a licence to accept deposits. This will enable the bank to offer a wide range of Sharia-compliant banking services."

Dahabshiil Bank will be part-owned by shareholders and investors will have an opportunity to buy shares in the new bank.

About Dahabshiil:

Dahabshiil is the largest money transfer company in the Horn of Africa. It has more than 200 branches in the Somali regions where it is the largest private sector employer. As the leading financial services company, it also offers banking services including savings and cheque accounts to individuals, businesses and international organisations in Somalia.