Dahabshiil Company Is a Pillar in Somaliland Banking System


By Medeshi

Dahabshiil Company was founded in 1970 in Burao, the regional capital of Togdheer region. The company was later expanded to remittance services to serve the Somaliland people uprooted by the civil war in Somalia in the mid-1980s. Dahabshill grew very fast in the last two decades to become the largest remittance company in Africa with businesses in over 126 countries worldwide.

The company opened its first Islamic bank in Djibouti in 2010 and also opened its first commercial bank in Somaliland in Nov. 2014.

Dahabshiil money transfer has branches throughout Somalia and Somaliland. It has also hundreds of agencies that use the franchise mainly in the United Kingdom to transfer monies worldwide.

Monies remitted through Dahabshiil can be collected within 15 minutes anywhere in the world particularly where internet services are available. The main reason is because the company is connected through data base system that allows all its agents access the online updates of monies remitted to each location. Recipients are then notified through texts and telephones which alert them that their monies are ready for collection.

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