2017
Established
AAOIFI
Member
9+
Cities & agents
At SomBank, digital isn't just a tool — it's how we bring ease, speed, and trust to every moment of your financial journey. We don't just follow innovation, we live it, so you can bank with confidence anytime, anywhere.
SomBank
Corporate Profile 2025
Leadership
Dr. Abdiaziz Ali
Chairman
Dear Valued Customers, Partners, and Stakeholders,
Welcome to SomBank—a financial institution built on unwavering values, guided by Islamic principles, and committed to delivering meaningful impact across Somalia and beyond.
Since our inception, our mission has been clear: to redefine what ethical banking looks like in the Horn of Africa. Today, I'm proud to say that SomBank stands not only as a trusted partner to individuals and businesses, but as a symbol of integrity, innovation, and resilience in Islamic finance.
At SomBank, our commitment to ethical banking goes beyond products—it is part of our identity. We are proud to be a member of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)—the global gold standard in Islamic finance. This membership reflects our ongoing efforts to uphold the highest level of Sharia compliance, transparency, and customer trust. With a growing presence across major cities in Somalia, SomBank provides a full suite of Shariah-compliant services from personal and SME banking to digital wallets, diaspora solutions, and financing products that support education, housing, and entrepreneurship. Our approach is rooted in accessibility, inclusion, and a deep understanding of the communities we serve.
But our work extends far beyond financial transactions. We believe in banking with a purpose—in using finance as a tool to uplift communities and enable prosperity. That's why we continue to invest in talent, technology, and partnerships that open new doors. Through our collaboration with T-Hub Innovation Center and Benadir Innovation Hub, we are helping to empower the next generation of Somali entrepreneurs and change-makers, fostering innovation and financial literacy at the grassroots.
Our commitment to excellence is also reflected in the strength of our leadership. Under the guidance of our CEO, Mr. Said Shire—a seasoned expert in Islamic banking and a respected thought leader—SomBank continues to grow with vision, resilience, and a deep dedication to the people we serve.
As we look ahead, our focus remains resolute: to grow responsibly, lead with integrity, and remain deeply connected to the communities we serve.
Founded in 2017 by Somali professionals, SomBank is a fully licensed commercial bank operating under the regulatory framework of the Central Bank of Somalia. From the outset, our focus has been on delivering ethical banking rooted in Shariah principles and tailored to the evolving needs of individuals, businesses, and institutions across the country.
We offer a comprehensive range of services, including personal and business banking, diaspora solutions, specialized products for women and youth, and Shariah-compliant financing options for both individuals and corporate entities. Our digital platforms, including mobile and internet banking, are designed to ensure convenience, security, and accessibility.
With a growing footprint across Somalia, SomBank is committed to expanding access to financial services. We provide essential tools such as cheque issuance, standing orders, and international money transfers via SWIFT. Customers also benefit from debit cards, our T-Plus digital wallet, and merchant payment capabilities. In partnership with Tawakal Money Transfer, we deliver fast and reliable remittance services that connect our customers with the world.
Beyond banking, we actively contribute to national development. Through collaborations with T-Hub Innovation Center and local universities, we support future entrepreneurs with financial literacy training and internship opportunities. Additionally, in partnership with the World Bank and KfW via Gargaara Company Ltd, we invest in priority sectors such as agriculture, healthcare, renewable energy, and women-led enterprises—driving inclusive growth and long-term impact.
SomBank is officially certified under ISO/IEC 27001:2022, the international standard for Information Security Management Systems. The certification reflects structured security controls, proactive risk management, and continuous improvement in the protection of customer information and transactions.
We invest in professional development programs that align with the highest financial and Sharia-compliant banking practices.
Learn how SomBank applies the ISO/IEC 27001:2022 information-security framework to protect customer data and banking services.
What drives us
Purpose
To enable our people, achieve financial freedom and create wealth.
Vision
To be the preferred Bank in the Horn of Africa.
Mission
Empowering individuals and businesses through personalized financial solutions, fostering lasting relationships built on trust and innovation.
Core values
SomBank invests in the communities it serves — from entrepreneurship and education to national forums and cultural events.
The Board of Directors at SomBank is committed to building a governance culture based on integrity, accountability, and long-term value. As custodians of the Bank's mission and values, we provide strategic direction, ensure compliance with applicable regulations, and support management in executing policies aligned with the Bank's objectives.
Abdiaziz Ali Mohamed
Chairman
Issa Mohamed Ahmed
Board Member
Omar Abdinur
Board Member
Abdullahi M. Ahmed
Board Member
Abdirisak Ali
Board Member
Ibrahim M. Ali Hassan
Board Member
Farhiya Hersi Warsame
Board Member
The Shariah Supervisory Council at SomBank plays a vital role in ensuring that all financial activities comply with Islamic principles. As an independent governing body, the Council conducts regular reviews of the Bank's operations, products, and contracts, and provides authoritative rulings and guidance to uphold Shariah standards.
Dr. Abdirisak Takar
Chairman
Dr. Feysal Mohamed
Member
Dr. Jama Hassan
Member
Dr. Mohamed Ainab
Head of Sharia & Sharia Board Secretary
At SomBank, leadership is defined by responsibility, vision, and values. I am privileged to lead a management team that brings both depth of experience and a shared commitment to the Bank's mission. Together, we are focused on strengthening the Bank from within, improving how we operate, how we serve, and how we grow. We are building an organization that is responsive, inclusive, and prepared for the future. Every decision we make is guided by the values of Islamic finance, the needs of our customers, and the responsibility we carry to contribute meaningfully to Somalia's economic development. This is more than a team, it is a shared effort to lead with purpose and deliver lasting impact.
Saiid Ali Shire
Chief Executive Officer
Hassan Yusuf
Chief Technology Officer
Sharmarke Nor
Chief Operating Officer
Mohamed Aden
CFO
Abdinasir Warsame
Head of Business
Mohamed Hussein
Head of Marketing
Abdirisak Bashir
Head of Financing & Investment
Jamal Mohamed
Head of Legal Department
Shukri Mohamed
Head of Human Resource
Nima Abdi Yunis
Risk & Compliance Manager
Hodan Abdi
Customer Care Manager
SomBank commits to promoting economic growth and personal advancement across a broad spectrum of demographics and industries.
Offers small financing to entrepreneurs and individuals who lack access to banking and financial services.
Caters to individual customers with services like savings accounts, personal loans, debit cards, mobile wallet and financing products.
Provides tailored financial solutions for small and medium enterprises, including current accounts, cheque books, online banking, payroll services, working capital financing, trade financing and asset financing.
Delivers specialized banking solutions for government institutions, local & international organizations, universities, and larger organizations.
Tailored services for Somali expatriates to manage their finances in Somalia, including remittances and investment opportunities.
Provides a range of payment solutions including cheques, electronic transfers, and direct debits to facilitate smooth financial transactions.
Partners with Tawakal Money Transfer to offer secure and efficient money transfer services across borders.
A digital wallet that allows customers to conduct various financial transactions via their mobile devices, enhancing convenience and accessibility.
At SomBank, we provide tailored banking solutions that cater to a wide range of needs.
A standard bank account that individuals use for everyday banking needs. It allows for deposits, withdrawals, and transfers.
A basic bank account that individuals use to deposit money for saving purposes.
A type of bank account provided by employers to their employees for the purpose of salary crediting.
Designed for Somali Diaspora to save their money, manage finances, and invest back at home.
Specially designed for women to save their money, manage finances, and get access to bank services.
Designed for businesses to save, keep & manage their finances.
Designed for self-employed individual persons who maintain small businesses.
Designed for both public and private sector institutions — government institutions or departments, hospitals, education centres such as universities and colleges.
Designed for Non-Governmental Organizations (NGOs), Non-Profit Organizations and Charities to receive funds and use them for administrative and project-based expenses.
SomBank offers a comprehensive portfolio of Shariah-compliant financing solutions tailored to the evolving needs of individuals, businesses, and communities.
Supports Somali farmers and livestock owners by financing seeds, animal feed, farming tools, irrigation systems, and other essential inputs required for agricultural production and seasonal operations.
Designed to support hospitals, clinics, pharmacies, and other healthcare providers in expanding their services — covering medical equipment, facility upgrades, and operational needs.
Covers various expenses including education fees and medical bills, as well as financing for goods, electronics, home appliances, and construction materials.
Specifically designed to finance the purchase of pre-constructed properties, such as apartments and stand-alone houses.
Enables Somali nationals to finance the purchase of residential or mixed-use commercial plots in major cities where SomBank operates.
Provides financing to individuals and businesses seeking to build their own homes, commercial premises, or expand their existing infrastructure.
Supports the acquisition of long-term assets, including new or used motor vehicles, machinery, equipment, and other productive assets for personal or commercial use.
Financing solutions designed to support educational pursuits, covering tuition fees, textbooks, and other academic materials.
Financing options for individuals planning to perform Umrah, covering travel visas, air tickets, accommodation, and related costs.
SomBank is committed to driving sustainable economic growth by supporting underserved yet high-potential sectors across Somalia. Our three flagship financing products — Haqabtire, Ifiye, and Shukri — are designed to address the unique needs of farmers, youth, and women entrepreneurs.
Supporting producers at the grassroots. Haqabtire strengthens Somalia's production sectors, with a particular focus on farmers and pastoralists. It provides accessible financing to help improve agricultural output, expand livestock operations, and promote food security — with simplified requirements, low profit rates, and technical guidance.
Investing in youth potential. Ifiye is a youth-focused product that supports Somali youth in establishing or expanding small businesses. It aims to foster financial independence, job creation, and leadership among the next generation through affordable financing and entrepreneurial support.
Advancing women entrepreneurs. Shukri is tailored to empower Somali women by supporting their entrepreneurial ambitions — whether starting a small business or scaling an existing one — with easy-to-access financing, minimal requirements, low profit margins, and capacity-building support.
Open a personal account, access corporate banking, or install the T-Plus mobile wallet through SomBank’s official channels.
T-Plus, developed and owned by SomBank, is the ultimate mobile wallet designed to transform the way you manage your finances from your smartphone.
Make hassle-free digital payments at stores and restaurants without physical cash or cards.
Send and receive money securely to friends, family, or businesses.
Top up your T-Plus account using Visa/Mastercards from any bank worldwide.
Pay education fees, electricity bills, TV subscriptions, and more directly from the app.
Schedule automatic bill payments in advance for timely settlements.
Browse and purchase products and services from partnered merchants in-app.
Explore nearby dining options, place orders, and pay for meals effortlessly.
Send money to the world using T-Plus through Tawakal Remittance for international transfers.
Advanced encryption safeguards every transaction against unauthorized access.
Stay informed with alerts for upcoming bills, account activities, and special promotions.
The SomBank Mastercard is a versatile debit card affiliated with the Mastercard network — empowering users to make purchases worldwide, online or in-person, at millions of locations.
Access cash at ATMs worldwide, 24/7.
Pay securely at online merchants globally.
Tap or swipe at point-of-sale terminals.
Round-the-clock access to your funds.
Stay informed on every transaction.
Take control of your finances with comprehensive account management through T-Plus and online banking.
An alternative payment method to cash or electronic transfers. Cheque books are available upon request at account opening or after existing cheque leaves are used.
Automate transfers from your account at regular intervals — to external financial institutions or internal SomBank accounts, including savings or children's accounts.
Send and receive funds globally for a nominal fee. Features include complimentary telephone notification, no bank account required for recipients, zero charges for the receiver, streamlined processing, full refund if cancelled, and cash pick-up in selected countries.
Transfer large amounts from SomBank to any bank connected to the National Payment System in Somalia and vice versa, with same-day settlement.
Integrated with the SWIFT international payment network for payments abroad in local and foreign currencies, with SWIFT codes and correspondent bank details provided.
The SomBank Diaspora Account provides tailored banking services for Somali diaspora members abroad, ensuring convenient access to remittances, savings, investments, and more.
Debit card access designed for customers living abroad.
Regular statements to keep diaspora customers informed.
Send and receive funds across borders with ease.
Personal support for diaspora banking needs.
Round-the-clock assistance wherever you are in the world.
Wherever you are in the world, SomBank's Diaspora Current Account keeps you linked to your finances. Crafted especially for our esteemed customers residing abroad, this account presents a wealth of features designed to seamlessly fulfill your banking requirements.
SomBank Diaspora Banking
SomBank works with a network of trusted local and international partners — from global card networks and Islamic finance standard-setters to development institutions — to broaden access, uphold standards, and fuel inclusive growth.
Islamic finance standards
SomBank is a member of the Accounting and Auditing Organization for Islamic Financial Institutions — the global gold standard in Islamic finance — reflecting its commitment to the highest levels of Sharia compliance, transparency, and customer trust.
Serves
Development finance
In partnership with the World Bank and KfW via Gargaara, SomBank invests in priority sectors such as agriculture, healthcare, renewable energy, and women-led enterprises — driving inclusive growth and long-term impact.
Serves
Card network
Mastercard powers SomBank's Platinum Debit card, enabling customers to withdraw cash, shop online, and pay at point-of-sale terminals at millions of locations worldwide.
Serves
Card network
Through the VISA network, customers can fund their T-Plus wallet and transact globally using Visa cards from any bank worldwide.
Serves
Remittance
A global money transfer partner extending SomBank's remittance reach, connecting customers with senders and recipients across the world.
Serves
Innovation & entrepreneurship
Through collaboration with T-Hub and Benadir Innovation Hub, SomBank empowers the next generation of Somali entrepreneurs and change-makers, fostering innovation and financial literacy at the grassroots.
Serves
SomBank operates across Somalia with branches and agents in the following locations:
Social
@sombankltd
