# Dahabshiil: the largest Somali money transfer company

> Dahabshiil in facts: how it began, its size, its bank and telecom interests, its regulators, and the 2013 Barclays case.

Source page: https://calankii.com/en/economy/dahabshiil/
Last checked: 2026-11-12
Publisher: Calankii (https://calankii.com)

## How it began

Dahabshiil was started by **Mohamed Said Duale**, a trader in Burao ([Wikipedia, Dahabshiil](https://en.wikipedia.org/wiki/Dahabshiil)). The company says it has about **50 years** of experience in money transfer ([Dahabshiil](https://www.dahabshiil.com/dahabshiil-story)). Its history is usually dated from 1970, though some company records give 2004 ([Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)).

Its first London office opened in Whitechapel in 1989, run by Abdirashid Duale, who later became chief executive (same source). The company is now headquartered in Dubai (same source).

## How big it is

- **Market share:** in 2014 the Rift Valley Institute estimated Dahabshiil carried **40 to 60 percent** of the Somali money transfer market, as the largest and longest-established company ([Rift Valley Institute, March 2014](https://riftvalley.net/wp-content/uploads/2018/06/RVI-Challenges-for-the-Somali-Money-Transfer-Sector-March-2014.pdf)).
- **Reach:** more than 100 countries, according to the company ([Dahabshiil](https://www.dahabshiil.com/dahabshiil-story)), with more than 24,000 agent and branch locations and more than 2,000 staff according to other reports ([Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)).

## Beyond money transfer

- **Somtel:** Dahabshiil took a majority stake in the telecom company Somtel in 2008 ([Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)). Somtel runs eDahab mobile money and co-owns the DARE1 undersea cable ([National Communications Authority](https://mail.nca.gov.so/what-we-do/submarine-cables)).
- **Dahabshil Bank International:** an Islamic bank opened in Djibouti in 2009 ([Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)). Dahabshil International Bank is one of the largest banks licensed in Somalia ([US International Trade Administration](https://trade.gov/country-commercial-guides/somalia-banking-services-and-financial-services)).
- **Digital transfers:** since 2015 the company's online service has been run with TalkRemit ([Dahabshiil](https://www.dahabshiil.com/dahabshiil-story)).

## Regulation

Dahabshiil says it is regulated by the UK Financial Conduct Authority, Sweden's Financial Supervisory Authority, and registered with Canada's FINTRAC ([Dahabshiil](https://www.dahabshiil.com/dahabshiil-story)). In 2010 it was the first international payments firm authorised by the UK regulator under the Payment Services Regulations ([Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)).

## The Barclays case, 2013

In May 2013 Barclays said it would close the accounts of most UK money transfer companies, including Dahabshiil, then the last Somali company with an account at a major UK bank. In November 2013 the High Court granted Dahabshiil an interim injunction keeping its account open until a full trial ([Africa Research Institute](https://africaresearchinstitute.org/blog/10-things-to-know-about-somali-remittances/); [Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)). Somali campaigners in the UK, supported by Oxfam, pressed to keep the channel open ([Oxfam](https://www.oxfam.org/en/node/7954)). The dispute was later settled ([Wikipedia, citing the Wall Street Journal](https://en.wikipedia.org/wiki/Dahabshiil)).

## Giving

The company says it puts money into community projects in the Horn of Africa in health and education ([Dahabshiil](https://www.dahabshiil.com/dahabshiil-story)). Reports say it gives 5 percent of annual profits to community projects ([Wikipedia](https://en.wikipedia.org/wiki/Dahabshiil)).

See [Hawala and money transfer companies](/en/economy/hawala-and-money-transfer-companies/) and [How to send money to Somalia](/en/economy/how-to-send-money-to-somalia/).

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