Garowe (Dawan Africa) –Salaam Bank officially launched seven new digital banking services on Wednesday night in Garowe, as part of its broader transition under the theme “Connect to Digital Banking.” The event reflects growing momentum in Somalia's financial sector toward mobile and technology-based service delivery.
The bank’s new services include E-Murabaha, a Sharia-compliant digital financing tool; E-Payroll for automating salary disbursement; E-Transfer for instant money transfers; E-Deposit, allowing remote deposits; E-Sweep for balance optimization; E-Integration for business connectivity; and the Waafi App, which offers mobile wallet and banking services.
“We aim to simplify our clients’ financial lives,” said Abdirisak Yusuf Ali, CEO of Salaam Bank. “This digital transformation is a vision we’ve worked toward for years.”
The expansion is made possible by the steady increase in internet connectivity across Somali regions. “The rapid spread of internet access has made digital banking both possible and necessary,” said Aadan Sheekhdoon Cali of Golis Telecommunications.
Some observers see the bank’s move as a step toward phasing out traditional USSD-based mobile money systems, which have long dominated Somalia’s informal finance sector. The adoption of app-based banking may signal the start of a broader digital transformation, although challenges related to access and digital literacy remain.
Abdirisak Warsame, Governor of the Puntland State Bank, welcomed the development. “Salaam Bank is playing a significant role in shaping Somalia’s financial technology landscape,” he noted.
Puntland Deputy President Ilyas Osman Lugatoor, who attended the event, called on financial institutions to increase investment in key productive sectors like livestock and fisheries to support inclusive development.
Founded in 2009, Salaam Bank is a leading Islamic financial institution in Somalia, offering Sharia-compliant services across major cities. It has increasingly focused on digital financial solutions, including mobile banking, as part of its strategy to expand access and modernize operations.
