The VP launches IBS Bank branch in Hargeisa


By M.A. Egge

The vice president of Somaliland has inaugurated the international bank IBS Bank which has opened a branch in the city of Hargeisa.

A large event held on Tuesday for the launch of IBS Bank’s branch in Somaliland was attended by members of Somaliland’s cabinet, parliamentarians, general directors of various ministries, top management officials of the central bank and the staff of IBS Bank.

The governor of the central bank of Somaliland, the chairman of the Somaliland chamber of commerce, businessmen, scholars, intellectuals, youth, women and all the different sectors of society were in attendance.

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IBS Bank, which is one of the private banks that operate in the neighboring countries, having been operating in Somaliland for almost a year.

The Vice President H.E. Abdirahman Abdillahi Ismail (Saili’i), who officially launched IBS Bank in Hargeisa, praised the businessmen fraternity who brought IBS Bank to the country.

Hoping that it will be of great help to the needs of our community to have access to different banks, the VP said that the government welcomes with open arms anyone who invests in Somaliland, whether it is the businessmen of the country or those who come from foreign nations.

“We are happy as a government for progress. Anyone who invests in Somaliland, like IBS, is welcome. Whether it is from the neighboring countries, or the business people who live in the country, or whether it is investors from the other countries of the world that come to us”, he said.

He continued, “Because everyone who invests in the country is participating in the development of Somaliland, we are creating jobs for the youth living in Somaliland, who are over 70%”.

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The chairman of IBS Bank Somaliland division, Abdikarin Haji Muse (Muruq-liqe) pointed out that they will be pioneers in how Somaliland banks should work together.

He said that one of the most important things is that jobs are created for our young people who have graduated from universities.

He said, “We promise to work hard towards inter-working relations with the other banks within the country for the the good of the public clientele”.

He said that IBS Bank is an international bank that has been operating in the country for a year.

The Governor of the Central Bank of Somaliland Eng. Ali Abdullahi Dahir welcomed the institution and pledged better cordition within the banking industry.

The vice chairman of IBS Bank of Somaliland, Abdirasaaq Ali Warsame, noted that they are contributing to the development of the country and investing in the country’s production.

“We are participating in the development of Somaliland. We are increasing investment in the production of the country,” he said.

The chairman of the Somaliland Chamber of Commerce, Jamal Aideid, on his part said, “We must compete in service and performance, so that society can benefit from it. I commend IBS Bank for bringing modern services that the community needs.”


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