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Premier Bank

Summary

Premier Bank is a Somalian privately owned Sharia compliant commercial bank. It was incorporated in Somalia in 2013 and licensed by the Central Bank of Somalia in 2014.[1]

Premier Bank Limited
Company typePrivate company
IndustryBanking
Financial services
Founded2013; 11 years ago (2013)
HeadquartersPremier Bank HQ Building, Makka al-Mukarama Street, Hodan District,
Mogadishu
,
Somalia
Area served
Somalia and Kenya
Key people
Osman Duale (CEO)
Jibril Hassan Mohamed (Chairman)
ProductsRetail banking, Private banking, Auto financing,
ServicesSavings, Hajj & Umrah Financing, Remittances from the diaspora, Current Account
Websitewww.premierbank.so

It was the first bank in Somalia to allow MasterCard credit cards and partner with Visa.[2][3]

History edit

 
At the ribbon cutting for Premier Bank, Somali President Hasan Sheikh Mohamud is joined by other officials during the opening ceremony in Mogadishu, Somalia, on 21 May 2015.

Premier Bank was opened on May 21, 2015[4] according to Sharia law by private Somali investors with banking experience from South Sudan, Djibouti and Kenya. The bank's official opening ceremony was opened by former Somali President Hassan Sheikh Mohamud.

The bank has branches in Mogadishu as well as Hargeysa, Somaliland.[5]

Premier Bank in partnership with MasterCard and SWIFT provides to its local clients for global online financial services.

Premier Bank's chairman Jibril Hassan Mohamud announced during the Mogadishu Tech Summit 2018 a fund of one million dollars for Somali tech startups.[6][7]

References edit

  1. ^ "About Us".
  2. ^ "MasterCard Becomes First International Payments Network to Enter Somalia". MasterCard and Premier Bank. 3 June 2015.
  3. ^ "Visa partners with Premier Bank to accelerate the growth of electronic payments in Somalia", joint press release
  4. ^ "Premier Bank formally opens its doors in Somalia". AMISOM. 21 May 2015. Retrieved 17 May 2020.
  5. ^ "Premier Bank Now In Hargeisa Somaliland". Radio Dalsan FM 91.5 MHz | Warar Sugan | Somalia News. 28 May 2017. Retrieved 17 May 2020.
  6. ^ "Boost for start-ups in Somalia as Premier Bank announces $1m fund". Goobjoog News English. 27 October 2018. Retrieved 17 May 2020.
  7. ^ "Bank, local hub launch $1-million fund for Somalian startups". 26 October 2018.