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First Somali Bank
The First Somali Bank (FSB) was a Somali commercial bank headquartered in Mogadishu, Somalia. The bank provided bank accounts, loans and debit cards A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ... as well as money transfer services. History FSB was established in May 2012 by Liban Abdi Egal. It was the first commercial bank to open in southern Somalia since 1991. An Islamic financial institution, the bank offered personal banking, commercial banking, agency banking, mobile banking and internet banking. It also provided money transfer services to clients. In mid-2012, the First Somali Bank organized its first ever Technology, Entertainment, Design (TEDx) conference. The event was launched to showcase improvements in local business, development and security to potential Som ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mogadishu
Mogadishu, locally known as Xamar or Hamar, is the capital and List of cities in Somalia by population, most populous city of Somalia. The city has served as an important port connecting traders across the Indian Ocean for millennia and has an estimated urban population of 2,610,483. Mogadishu is located in the coastal Banaadir region on the Indian Ocean, which, unlike other Somali regions, is considered a municipality rather than a (federal state). Mogadishu has a long history, which ranges from the ancient history, ancient period up until the present, serving as the capital of the Sultanate of Mogadishu in the 9th-13th century, which for many centuries controlled the Indian Ocean gold trade and eventually came under the Ajuran Sultanate in the 13th century which was an important player in the medieval Silk Road maritime trade. Mogadishu enjoyed the height of its prosperity during the 14th and 15th centuries and was during the early modern period considered the wealthiest ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liban Abdi Egal
Liban Abdi Egal (, ) is a Somali entrepreneur. He is the founder and chairman of First Somali Bank (FSB), established in 2012. References Living people Ethnic Somali people Somalian businesspeople Somalian Muslims Year of birth missing (living people) {{Somalia-bio-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate banking). Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term ''commercial bank'' is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with wholesale banking to corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks. Commercial banks include private sector banks and public sector banks. However, central banks function differently from commercial banks, despite a common misconception known as the "bank analogy". Unlike commercial banks, central banks are not primarily focused on generating profits and cannot become insolvent in the same way as commercial banks in a fiat currency system. History The name ''bank'' derives from the Italian word ''banco'' 'desk/bench', used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Somalia
Somalia, officially the Federal Republic of Somalia, is the easternmost country in continental Africa. The country is located in the Horn of Africa and is bordered by Ethiopia to the west, Djibouti to the northwest, Kenya to the southwest, the Gulf of Aden to the north, and the Indian Ocean to the east. Somalia has the longest coastline on Africa's mainland. Somalia has an estimated population of 18.1 million, of which 2.7 million live in the capital and largest city, Mogadishu. Around 85% of Somalia's residents are ethnic Somali people, Somalis. The official languages of the country are Somali language, Somali and Arabic, though Somali is the Languages of Somalia, primary language. Somalia has historic and religious ties to the Arab world. The people in Somalia are mainly Muslims, following the Sunni Islam, Sunni branch.. In antiquity, Somalia was an important commercial center. During the Middle Ages, several powerful Somali empires dominated the regional trade, including th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Account
A bank account is a financial account maintained by a bank or other financial institution in which the financial transaction A financial transaction is an Contract, agreement, or communication, between a buyer and seller to exchange goods, Service (economics), services, or assets for payment. Any transaction involves a change in the status of the finances of two or mo ...s between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan accounts or many other types of account. A customer may have more than one account. Once an account is opened, funds entrusted by the customer to the financial institution on deposit are recorded in the account designated by the customer. Funds can be withdrawn from the accounts in accordance with their terms and conditions. The financial transac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Acting as a provider of loans is one of the main activities of financial institutions such as banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card
A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. Debit cards are similar to a credit card, but the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase. Some debit cards carry a Stored-value card, stored value with which a payment is made (prepaid cards), but most relay a message to the cardholder's bank to withdraw funds from the cardholder's designated bank account. In some cases, the payment card number is assigned exclusively for use on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking And Finance
Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include ''mudarabah'' (profit-sharing and loss-bearing), ''wadiah'' (safekeeping), ''musharaka'' (joint venture), ''murabahah'' (cost-plus), and '' ijarah'' (leasing). Sharia prohibits ''riba'', or usury, generally defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to ''riba''). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also ''haram'' ("sinful and prohibited"). These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent un-Islamic practices. In the late 20th century, as part of the revival of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TED (conference)
TED Conferences, LLC (Technology, Entertainment, Design) is an American-Canadian non-profit media organization that posts international talks online for free distribution under the slogan "Ideas Change Everything" (previously "Ideas Worth Spreading"). It was founded by Richard Saul Wurman and Harry Marks (broadcast designer), Harry Marks in February 1984 as a technology conference, in which Mickey Schulhof gave a demo of the compact disc that was invented in October 1982. Its main conference has been held annually since 1990. It covers almost all topics—from science to business to list of global issues, global issues—in more than 100 languages. TED's early emphasis was on technology and design, consistent with its Silicon Valley origins. It later broadened to include scientific, cultural, political, humanitarian, and academic topics. It has been curated by Chris Anderson (entrepreneur), Chris Anderson, a British-American businessman, through the non-profit TED Foundation sin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
