_

Our Profile

_

Somali Bankers Association (SBA) was established in 2016 and is recognized by the Central Bank of Somali as the official Association to represent the country’s private banking sector. SBA is the financial sector’s leading advocacy group and the umbrella body of institutions licensed and regulated by the Central Bank of Somali (CBS) with a current membership of 13 commercial banks of all sizes.

OUR MANDATE

Industry efficiency and Innovation

Research and Advocacy

Banking Practices and Sustainability

Consumer education and Public Affairs

OUR VISION

Our Vision Statement

A strong dynamic and recognized banking and financial services industry in Somalia and the continent at large.

.

OUR MISSION

Our Mission Statement

The purpose of the Somali Bankers Association (SBA) is to promote a strong and ethical banking sector that provides products and assurances crucial to encouraging economic prosperity for all Somalia's financial institutions.

_
Our Objectives  
_

The objectives for which the Somali Bankers Association was founded are to further the interests of banking and financial institutions in Somalia.  The following are some of the important objectives of SBA:

  1. To promote the establishment of sound banking principles, structure, and the best practices in Somali in line with the International standards and practices.
  2. To provide where possible such advice or assistance as may be considered necessary and practical to its Members.
  3. To work in co-operation with governmental financial institutions in the country.
  4. To work in co-operation with similar associations elsewhere in the region and the world at large.
  5. To promote consumer protection and complaint resolution in line with the financial acts, rules, and regulations in the country.
  6. To promote public awareness of financial literacy, inclusion, and banking products across the country.
  7. To improve public relationships.
  8. To protect the rightful interests of members.
  9. To promote education, research and development, and training in all aspects of banking to promote the level of banking expertise in Somalia.
_
SBA Members  
_
  • Salaam Somali Bank
  • Dahabshiil International Bank
  • International Bank of Somalia IBS
  • Premier Bank
  • Glaxy International Bank (GIB Bank)
  • MyBank
  • Som-Bank
  • Daryeel Bank
  • Amana Bank
  • Amal Bank
  • Agro Bank
  • Bushra Business Bank (BBBank)
  • Idman Community Bank (ICB)
_
Our Core Values  
_
  • Transparency and fairness
  • Inclusivity and independent
  • Consumer-Orientation
  • Social-good commitment
  • Non-partisanship.
_

CEO Note

_

It is an honor and a privilege for me to lead the Somali Bankers Association (SBA), the professional umbrella body representing the common interests of the licensed commercial banks in Somalia. We work with the government and other financial stakeholders including the regulators of the industry – Central Bank of Somalia (CBS), Financial Reporting Center (FRC), –     Ministry of Finance and other core financial sector stakeholders that operate in the country. Like elsewhere across the region and globe, the Somali banking sector is fast changing, characterized by new business models, increased financial inclusion, growing demand for financial technology services and innovation.   

Since the inception, the Association’s core objectives were to reinforce a reputable and professional banking sector in a bid to support Somalis, who entrust their ambitions and hard-earned resources with its member banks. I am here to confirm you that, we are open to building partnerships, cooperation and synergies with like-minded partners in the country and beyond for purposes of capacity building, experience sharing, joint advocacy among other impacts.

SBA organizes trainings, seminars, events, meetings, forums and conferences to increase the awareness of the banking sector and research-based industry solutions to promote banking products and services in Somalia as well as connecting our banks into the financial systems of the World.