Somaliland: Salaam Financial Services Partners Transparency Solutions

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Abdikarim Ismail operations manager Salaama Financial Services“the burdensome practice of carrying suitcases stuffed with dollars by our importers traveling to China has been rendered obsolete after Salaam Financial services introduced credit cards and letters of credit Honoured worldwide” Abdiqani Harir

By: Latifa Yusuf

HARGEISA (Somalilandsun) – Salaam Financial Services is gradually Mobilizing the ideas and wealth of Diasporas and harnessing them in the reconstruction and development of Somaliland.The operations manager of Salaam Financial services-SFS Mr. Abdiqani Harir Ismail has revealed a long term partnership agreement with Transparency Solutions which is geared towards joint facilitation and intervention in various development sectors in the country.

While briefing participants at the launch of the Transparency Solutions owned Somali Star Investments platform at Ambassador Hotel Hargeisa, Mr. Harir said the partnership which will initial see the two partners intervene in the energy sector where plans are afoot to establish sources of cheap and easily available electricity sourced from the wind.

Somali Star Investments which is a brand name of Transparency Solutions TS is a Somali-led organization based in the UK and now Somaliland. According to the TS CEO Mr. Mr. Abdilatif Ismail the company has considerable expertise in sustainable economic development as well as a world-class reputation for research, evaluation, project management and training that they intend to utilize locally in-order to foster faster development.

Apart from interventions in the energy sector the Salaam financial services and Transparency Solutions shall gradually intervene in other infrastructural areas like road and bridge constructions and others that though necessary for national development require heavy financing.

According to operations manager the partnership with Transparency Solutions fulfills dual Salaam financial Services of mobilizing Diaspora funds and participating in the country’s development at all levels and sectors, Says he, “Apart from being a diaspora owned entity TS brings to the partnership much needed skills in projects design and management as well as an apt platform of harnessing diaspora funds for national development”

Apart from revealing the TS partnership further enlightening came to be as per new and existing services provided by the Salaam Financial that become the first Islamic Banking institution in Somaliland when it opened its door in 2010.

Salaam Financial which envisages becoming the leading provider of Islamic Sharia complaint financial products and services in East Africa region is currently providing multi-faceted services in the areas of Remittance, Banking, Financing and Investment Services.

“These state of the art quality services and facilities are availed clients through online banking, mobile banking, ATM (automatic teller machine), Debit cards, letter of credits etc. and without interest on transactions as Salaam Financial is based on the Islamic principles thus sharia compliant” Says the operations manager

Mr. Harir also informs that the former burdensome practice of carrying suitcases stuffed with dollars by our importers traveling to China has been rendered obsolete after the introduction of credit cards and letters of credit honored worldwide by Salaam Financial services.

The partners who facilitate the ease of international financial transactions for clients of Salaam Financial Services include UK’s Barclays bank, Commerce Bank of Germany, Salaam African Bank, and Bank of Bangladesh among others.

Other Services delivered by SALAAM Delivers to its customers include:

 Personal Banking: This means the credit accounts that are liable for unconditional deposit and withdrawal through cheques and other means of withdrawal.

 Corporate Banking: It means the credit accounts that are liable for unconditional deposit and withdrawal through cheques and other means of withdrawal.

 TT Services: Telegraphic Transfer or Telex Transfer is an electronic means of transferring funds overseas. A transfer charge is collected while sending money.

 E-Banking: Electronic Banking automated delivery of new and traditional banking products and services directly to customers through electronic.

 SMS Banking: Mobile Banking is a technology-enabled service offering from the bank to its customers, permitting them to operate selected banking services over their mobile phones using SMS messaging.

Though current operations of Salaam cover all parts of Somaliland the institution which envisages becoming the leading provider of Islamic Sharia complaint financial products and services in all Somali speaking areas and East Africa region, the management is always in the lookout for viable partnerships like the one with Transparency solutions.

With our headquarters Located in the investment friendly Somaliland city of Hargeisa and backed by our Multi-national entrepreneurs who own the company the sky is the limit” Says Salaam Financial Services operations manager Mr. Abdiqani Harir Ismail

For more information on Salaam services visithttp://www.salaamfinancial.com

for info on Transparency solutions http://transparencysolutions.co.uk/

and on Somali star investments Visit www.somalistarinvestments.com

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