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.
Industry efficiency and Innovation
Research and Advocacy
Banking Practices and Sustainability
Consumer education and Public Affairs
Our Vision Statement
A strong dynamic and recognized banking and financial services industry in Somalia and the continent at large.
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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.
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:
- To promote the establishment of sound banking principles, structure, and the best practices in Somali in line with the International standards and practices.
- To provide where possible such advice or assistance as may be considered necessary and practical to its Members.
- To work in co-operation with governmental financial institutions in the country.
- To work in co-operation with similar associations elsewhere in the region and the world at large.
- To promote consumer protection and complaint resolution in line with the financial acts, rules, and regulations in the country.
- To promote public awareness of financial literacy, inclusion, and banking products across the country.
- To improve public relationships.
- To protect the rightful interests of members.
- To promote education, research and development, and training in all aspects of banking to promote the level of banking expertise in Somalia.
- 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)
- Transparency and fairness
- Inclusivity and independent
- Consumer-Orientation
- Social-good commitment
- Non-partisanship.
CEO Note
I feel honored to write this message as the Chief Executive Officer of Somali Bankers Association (SBA).
Since its inception in 2016, SBA has remained active in Somalia’s financial sector, strengthening the capacity of Somalia’s banking sector, which has been rapidly growing for the last two decades. Its key achievements including standardization, effective engagement with international financial institutions and digitization initiatives that has further advanced SBA’s contribution to the overall economic development in Somalia and in particular the banking sector. Besides, SBA has positively maintained its position as a key partner to its key stakeholders including the Central Bank of Somalia, Financial Reporting Center and all relevant Ministries including the Ministry of Finance, Ministry of Trade and Industrialization and Ministry of Planning, Development and International Cooperation.
With its training models and stakeholder engagement at local and global level, SBA aspires to transform Somalia’s banking sector into a reputable and resilient banks. This will be attained through advancing digital transformation and financial inclusion, promoting customer-centric experiences, ensuring financial compliance through adhering to local and international policies and regulations, and finally maintaining the financial resilience of member banks.
I wish all members of Somali Bankers Association a sound and sustainable progress.
Dr. Ahmed khadar A. Jama, PhD- Economics
Chief Executive Officer
Somali Bankers Association (SBA)
