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Sunday, December 14, 2014

Dahabshiil company is a pillar in Somaliland banking system

Dhabshiil bank (Web image ) 
(Medeshi)-Dahabshiil company was founded in 1970 in Burao, the regional capital of Togdheer region. The company was later expanded to remittance services to serve the Somaliland people uprooted  by the civil war in Somalia  in the mid 1980s.

Dahabshill grew very fast in the last two decades to become the largest remittance company in Africa with businesses  in over 126 countries worldwide.
The company opened its first Islamic bank in Djibouti in 2010 and also opened its first commercial bank in Somaliland in Nov. 2014.
Dhabshiil bank (Web image ) 
Dahabshiil money transfer has branches throughout Somalia and Somaliland. It has also hundreds of agencies that use the franchise mainly in the United Kingdom to transfer monies worldwide.
Monies remitted through Dahabshiil can be collected within 15 minutes  anywhere in the world particularly where internet services are available. The main reason is because the company is connected through data base system that allows all its agents access the online updates of monies remitted to each location. Recipients are then notified through texts and telephones which alert them that their  monies are ready for collection.
Abdirashid M Duale, an entrepreneur and the son the founding father - Mr Mohamed Duale - is the CEO of the company. Abdirasbid is a Briton educated in the UK who untiringly runs the company against all odds of the unrecognised Republic of Somaliland.
In addition to the banking system,  the company contributes to the development of both the private and the public sectors in Somaliland ; and while creating over 5,000 jobs , the company invests 5% of its profits into community regeneration projects involving the development of schools, hospitals, agriculture and sanitation.