Banks, insurance and Islamic finance
Somali banks, insurers and microfinance firms: directory
This directory lists 55 Somali banks, microfinance institutions, takaful (Islamic insurance) companies and stock exchanges, with the year founded, head office and a source for each. Most rows come from the Central Bank of Somalia's licence registers of November 2026, which list 15 banks, 24 microfinance institutions and 8 takaful operators.
About this list
The Central Bank of Somalia publishes registers of the banks, microfinance institutions and takaful (Islamic insurance) operators it licenses (licensed banks; microfinance; takaful). In November 2026 the registers listed 15 banks, 24 microfinance institutions and 8 takaful operators. The Central Bank's Annual Report 2025 counted 13 domestic banks and one foreign bank branch at the end of 2025 (Central Bank of Somalia, Annual Report 2025). Banks in Somaliland are licensed by the Central Bank of Somaliland and appear here when a source names them. Almost all Somali banks are Islamic banks, which share profit and risk instead of charging interest.
Banks
| Company | Type | Founded | Head office | Owner or head, and status | Source |
|---|---|---|---|---|---|
| Agro Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Amal Bank | Bank | Garowe and Mogadishu | Amal Group; Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | |
| Amana Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Banca per l'Africa Orientale | Bank (colonial) | Mogadishu | Historic | Wikipedia | |
| Bank of Somaliland | Bank | 1994 | Hargeisa | Somaliland central bank | Wikipedia |
| Bulsho Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Bushra Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Dahabshil Bank International | Bank | 2014 | Hargeisa | Dahabshiil group; Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
| Dara-Salaam Bank | Bank | 2010 | Hargeisa | formerly Salaam Financial Services | Wikipedia |
| Daryeel Bank | Bank | Bosaso | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | |
| First Somali Bank | Bank | 2012 | Mogadishu | Liban Abdi Egal; Defunct 2016 | Wikipedia |
| GIB Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Idman Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| International Bank of Somalia (IBS) | Bank | 2014 | Mogadishu | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
| My Bank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Premier Bank | Bank | 2013 (opened 2015) | Mogadishu | Jibril Hassan Mohamud, chairman; Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
| Salaam Bank (Puntland) | Bank | 2011 | Bosaso | Wikipedia | |
| Salaam Somali Bank | Bank | 2009 | Mogadishu | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
| Sombank | Bank | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| State Bank of Puntland | Bank | Garowe | Puntland state | Wikipedia | |
| Ziraat Katilim (branch) | Bank | Mogadishu | Ziraat Katilim, Turkey; Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
Microfinance institutions
| Company | Type | Founded | Head office | Owner or head, and status | Source |
|---|---|---|---|---|---|
| Access MFI | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Amana MFI | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Asal MFI | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Bulaal Finance | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Bushra MFI | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Dahab MFI (MicroDahab) | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Future Finance House | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Haldoor | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Himilo, Garowe | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Hogaan, Baidoa | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Horseed | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Idman MFI | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Kaafi | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| KIMS (Kaah International Microfinance Services), Hargeisa | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Kobciye | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Maal | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Midnimo | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| OSOB | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| RAAS | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| SICOF | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Somali Microfinance (SOM) | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Tijaaro | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Wadaag Microfinance, Hargeisa | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| WE-INVEST, Hargeisa | Microfinance | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
Takaful and insurance
| Company | Type | Founded | Head office | Owner or head, and status | Source |
|---|---|---|---|---|---|
| Amanah Insurance | Insurance (takaful) | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Baraka Takaful | Insurance (takaful) | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| FISO Insurance (First Somali Takaful; Islamic Insurance Company) | Insurance (takaful) | December 2014 | Mogadishu | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register; Wikipedia |
| Kobciye Insurance | Insurance (takaful) | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Salmastar Insurance | Insurance (takaful) | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Takaaful Africa (Takaful Insurance of Africa) | Insurance (takaful) | 2011 in Kenya; Somalia mid-2013 | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register; How We Made It in Africa, 2016 | |
| Tamini Insurance | Insurance (takaful) | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register | ||
| Wadaag Insurance, Hargeisa | Insurance (takaful) | Licensed by Central Bank of Somalia, Nov 2026 | Central Bank of Somalia register |
Stock exchanges
| Company | Type | Founded | Head office | Owner or head, and status | Source |
|---|---|---|---|---|---|
| National Securities Exchange of Somalia (NSES) | Stock exchange | 2025 | Mogadishu | Yasin M. Ibar (CEO) | Wikipedia |
| Somali Stock Exchange | Stock exchange | 2011 (trading 2015) | Mogadishu | Wikipedia |
For how the banking system works, see Banks in Somalia and Islamic finance, microfinance and takaful. For the newer banks one by one, see Somalia's newer banks. The full list is also available as a CSV file.
Sources
- licensed banks · centralbank.gov.so
- microfinance · centralbank.gov.so
- takaful · centralbank.gov.so
- Central Bank of Somalia, Annual Report 2025 · centralbank.gov.so
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
- How We Made It in Africa, 2016 · howwemadeitinafrica.com
- Wikipedia · en.wikipedia.org
- Wikipedia · en.wikipedia.org
Toosoo!
Calankii is made by Toosoo, which works for one united, prosperous Somalia.
Can you help with Somali banks, insurers and microfinance firms: directory? Tell us what you can give.
I want to help with this
Where this matters
- Muqdisho (Mogadishu) and BanaadirMogadishu (Muqdisho) is Somalia's capital and makes up the Banadir region, with about 2.97 million people in 20 districts.
- Hargeysa (Hargeisa) and Woqooyi GalbeedWoqooyi Galbeed is the north-western region that holds Hargeisa (Hargeysa) and the port of Berbera, with about 1 to 1.45 million people.
- Boosaaso (Bosaso) and BariBari is Puntland's north-east region, with the port city of Bosaso (Boosaaso) as its capital and about 1.28 million people.
- Garoowe (Garowe) and NugaalNugaal is the region around Garoowe (Garowe), Puntland's capital, with about 656,910 people in three districts.
Same era
- Australia18,401 people of Somali ancestry and 8,101 born in Somalia lived in Australia at the 2021 Census, more than half in Victoria. History, work, issues.
- Birmingham (Somali diaspora)About 17,000 to 21,600 Somalis live in Birmingham (Census 2021), mostly in Nechells, Newtown, Small Heath and Alum Rock. History, work, health and ties home.
- Bristol (Somali diaspora)9,167 people in Bristol identified as Somali or Somalilander in Census 2021, the city's largest minority group. Where they live, work, housing, leaders and ties home.
- Calgary, Alberta, Canada2,845 people of Somali origin lived in Calgary at the 2021 Census, plus 890 in Brooks. How they came, who serves them and what they face.
- Denmark (Somali diaspora)21,885 people of Somali origin lived in Denmark in 2026, half born there. Numbers, history, work, permit reviews, and ties home.
- DjiboutiAbout 13,900 refugees from Somalia live in Djibouti (Aug 2026): numbers since 1990, Ali Addeh, Holl-Holl, the 2017 refugee law, Arta 2000 and 2025 returns.
Keep reading
- Somali takaful companies: FISO, Takaful Africa and the licensed insurersSomalia's takaful (Islamic insurance) companies in facts: FISO, Takaful Africa, the Central Bank's register of licensed operators, what they insure, and the 2025 insurance law.
- Salaam Somali Bank: Somalia's first bank since 1991Salaam Somali Bank in facts: founding in 2009, DEEQTOON mobile banking, the first cash machines, branches, Islamic finance products, drought insurance, cards and awards.
- Premier Bank: the Islamic bank that brought Mastercard to SomaliaPremier Bank in facts: founding and licence, the 2015 opening, Mastercard and Visa, branches in Mogadishu, Hargeisa and Baidoa, Premier Wallet, SWIFT transfers and its startup fund.
- International Bank of Somalia (IBS Bank): founding, share sale and branchesIBS Bank in facts: incorporation in 2013, the 2014 opening, the 2015 public share offer, branches in Mogadishu, Garowe, Kismayo, Bosaso, Baidoa and Hargeisa, cards and awards.
- Dahabshil Bank International: the Dahabshiil group's Islamic bankDahabshil Bank International in facts: the 2008 Djibouti licence, the 2014 Hargeisa headquarters, branches in Somalia, lending, and its place in the Dahabshiil group.
- MyBank (Somalia): digital bank licensed in 2019MyBank in facts: founding in 2018, the 2019 licence, its core banking system, the Mastercard debit card, links with EVC Plus and Waafi, and the IskuFilan gold-backed loans for women.