Vision
Our vision is to create an enabling platform that nurtures and transforms the banking and financial industry in Somaliland.
Institutional Profile
About the Somaliland Banking Association
Established as the unified voice and self-regulatory forum for licensed commercial banks in Somaliland, fostering a trustworthy, stable, and inclusive financial system.
Industry Association • Est. 2021
Licensed Commercial Banks Forum
Institutional Unity
Commercial Banking Leadership & Governing Assembly
History & Genesis
Background Information
Somaliland Banking Association (SLBA) was registered as an Industry Association in 2021 by the Ministry of Planning & National development. The main aim of the Association is to cater for the interests of the member banks as well as the consumers and the public. Our main focus is to standardize the banking system across all banks in Somaliland. Moreover, to create financial awareness for the public and protect the personal data of consumers in banks by having proper systems in place.
As the umbrella body of the institutions licenses and regulated by the BSL with a current membership of 4 financial institutions (Dahabshil Bank International, Dara Salaam Bank, Premier Bank and Amal Bank) SLBA reinforces a reputable and professional banking sector in a bid to best support Somalis, who entrust their ambitions and hard-earned resources with its member banks.
The ambition of the association is geared towards promoting banking industry development and economic growth by engaging the government and sector regulator, The Bank of Somaliland (BSL). To reinforce the banking industry’s ability to be a primary driver of the economy’s development aspiration, the mandate of the Association is defined and enshrined in our Strategic Plan.
Institutional Profile
Company Overview
Mission
- To work in partnership with national and International regulatory bodies to set and maintain the highest standards of compliance.
- To develop a common standard of good banking practice and assist our members to offer quality banking services.
- To develop and support public confidence in the banking sector through public awareness and education.
Values
- Teamwork: We promote and support a diverse and committed team by working together to achieve our mission.
- Integrity: To uphold high standards which demonstrate excellence and transparency with our members.
- Innovation: To create new means of improving the banking sector in Somaliland.
- Inclusiveness: To foster financial inclusion for all.
Institutional Profile
Our Strategic Pillars
Five foundational pillars that drive all institutional strategies and operations of the Somaliland Banking Association.
Earning The Trust
We are working towards banks trusting each other.
The association aims to create a harmonious collaboration with each of the banks in order to be able to develop the banking sector in Somaliland.
Customers & Banks
We work to ensure every customer counts.
Banks play a vital role in the financial future of the people – the vast majority of people benefit from mobile banking services that make it easy to do transactions online. Creating good relations with the banks and their customers is of at most important to improve the banking sector through standardizing banking processes and increasing efficiency for the customer.
Government & Banks
We are helping to grow Somaliland's economy.
Banks play a vital role in Somaliland's economy – keeping our savings safe and providing loans to support people and businesses. Improving the government's relations with banks through developing better policies for banks that aid in promoting international financial practices and helps the economy.
The Future
We can imagine the future of banking.
Part of getting connected to the world is through improving the financial infrastructure of banks in Somaliland and corresponding with international banks is a way to do just that. From initiatives such as; the swift code to transferring money abroad.
Financial Inclusion & Capacity Building
Foster financial inclusion for all
To inform program and advocacy strategies to effectively strengthen and scale the financial ecosystem in Somaliland. Improved access to finance through education and training programs for bankers' employees to improve their skillsets as well as aiding youth in financial literacy programs that is targeted at entrepreneurs.
Leadership & Oversight
Governance Framework
Led by experienced banking executives and institutional leaders committed to transparency, compliance, and sectoral growth.