Services & Products

Services

We offer two types of advisory services to individuals and business loan applicants:
  • Those who qualify for financing, we take them through the terms and conditions, ensuring that they understand and agree to their new financial obligations.
  • Those who fail (for whatever reason) we advise on what they need to do to become eligible for financing.
  • Our relationship managers also offer free entrepreneurship advisory to customers.
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Products

Our wide array of savings and loan products is aimed at capturing the current diversity in Somalia’s marketplace - a mix of returnees, IDPs and a large number of entrepreneurs. The amount disbursed and the repayment terms are agreed at the point of application.
  • Those who qualify for financing, we take them through the terms and conditions, ensuring that they understand and agree to their new financial obligations.
  • Those who fail (for whatever reason) we advise on what they need to do to become eligible for financing.
  • Our relationship managers also offer free entrepreneurship advisory to customers.
M-Finance

These are micro loans, which are applied and disbursed through mobile money, working with telecommunication companies like Hormuud and third-party financial technology firms.

Savings-Backed Finance

With disciplined saving, the customers become eligible for loans. They can also start small businesses or boost already existing enterprises.

Savings

This product will target Somali expatriates, returnees and IDPs with well-thought out saving plans for personal and business development.

Business Booster

This credit facility is meant to help small businesses in restocking, expansion and settling off small financial obligations. The evaluation is done efficiently and the credit advanced within 24 hours. Suitable for traders of electronic shops, small clothes shops, charcoal businesses etc.

Agriculture Development Loans

This targets small-scale farmers, fishermen and livestock breeders and traders. Farmers can be financed to prepare land, plant, buy fertilizer, farm maintenance and produce harvest. Fishermen can be financed to buy fishing gear and other necessary equipment while livestock keepers can be financed to increase the number of animals, feeds or processing.

Emergency Finance

To take care of personal and business urgent needs like school fees, medical bills. This product also targets traders involved in export and import business. This will pay for import duty and other applicable taxes.

Asset Finance

his product is Sharia’h based and comes in four options:

  • Mudharabah i.e. financing partnership
  • Musharakah i.e. equity partnership
  • Murabahaah i.e. cost-plus sale
  • Ijarah i.e. Islamic leasing

The product targets SMEs who want to strengthen and scale their operations. The financing allows the SMEs to enhance their capacity by acquiring new equipment and machinery for their businesses under mutually agreed terms.

New Business Finance

This will target customers who require startup capital for a project, but do not have the requisite collateral.

They will be organized into groups of 6-10 individuals and started off with seed capital.

Subsequent loans will be increased after every successful and timely repayment.

The members of the group will co-guarantee each other and will most likely be engaged in similar trade or business for familiarity purposes.