Dahabshil Bank International (DBI), also known as the Dahabshil International Commercial Bank, is a
bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
headquartered in
Hargeisa
Hargeisa ( ; ; ) is the capital and largest city of the Republic of Somaliland, a ''List of states with limited recognition, de facto'' sovereign state in the Horn of Africa, still considered internationally to be part of Somalia. It is also th ...
,
Somaliland
Somaliland, officially the Republic of Somaliland, is an List of states with limited recognition, unrecognised country in the Horn of Africa. It is located in the southern coast of the Gulf of Aden and bordered by Djibouti to the northwest, E ...
.
Dahabshil Bank International is one of the main banks in
Djibouti
Djibouti, officially the Republic of Djibouti, is a country in the Horn of Africa, bordered by Somalia to the south, Ethiopia to the southwest, Eritrea in the north, and the Red Sea and the Gulf of Aden to the east. The country has an area ...
.
It is a subsidiary of DGH Group
Dahabshiil.
The bank has access to substantial foreign direct investment from the
Persian Gulf region.
History
In early 2009, it became an officially recognized institution in
Somaliland
Somaliland, officially the Republic of Somaliland, is an List of states with limited recognition, unrecognised country in the Horn of Africa. It is located in the southern coast of the Gulf of Aden and bordered by Djibouti to the northwest, E ...
. The bank opened its first branch later the same year in
Hargeysa, the capital of the country.
As of November 2014, Dahabshil Bank International has issued $70 million in loans earmarked for the local financial, livestock, agriculture, health and education sectors. According to Manager Abdirashid Mohamed Saed, the bank is slated to open additional branches in other parts of Somaliland.
Services
The bank provides business and international banking, as well as personal and private banking to its clients. It also accommodates commodities exchange.
Memberships
Dahabshil Bank international is a member of various international trading agencies and groups, including:
*Common Market for Eastern and Southern Africa
*Multilateral Investment Guarantee Agency
See also
*
List of banks in Somaliland
*
Al Gamil
References
External links
* {{Official website
Economy of Djibouti
Companies of Djibouti
Banks of Djibouti
Companies based in Hargeisa
Economy of Somaliland
2014 establishments in Somalia
Banks established in 2014
Companies of Somaliland
Banks of Somaliland