First Somali Bank
{{Short description|Somali bank}}
{{Infobox company
| name = First Somali Bank
| logo = Fsblogo.jpg
| type = Private company
| industry = Financial services
| traded_as =
| foundation = {{start date and age |2012 }}
| defunct = {{end date |2016 }}
| fate = Unknown
| location = Mogadishu, Somalia
| key_people = Liban Abdi Egal
| products = Loans, debit cards, money transfer and retail banking
| revenue =
| assets =
| num_employees =
| homepage = {{URL|www.firstsomalibank.com}} {{deadlink|date=August 2024}}
}}
The First Somali Bank (FSB) was a Somali commercial bank headquartered in Mogadishu, Somalia. The bank provided bank accounts, loans and debit cards as well as money transfer services.
History
FSB was established in May 2012 by Liban Abdi Egal.{{cite news|last=Mulupi|first=Dinfin|title=Meet the Boss: Liban Abdi Egal, chairman, First Somali Bank|url=http://www.howwemadeitinafrica.com/meet-the-boss-liban-abdi-egal-chairman-first-somali-bank/17619/|accessdate=30 January 2014|newspaper=How We Made It In Africa|date=20 June 2012}} It was the first commercial bank to open in southern Somalia since 1991.{{cite news|title=War-torn Somalia stages TEDx conference|url=http://phys.org/news/2012-05-war-torn-somalia-stages-tedx-conference.html|accessdate=24 January 2014|newspaper=Phys.org|date=17 May 2012}}
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.{{cite web|title=First Somali Bank|url=http://www.firstsomalibank.com/|publisher=First Somali Bank|accessdate=30 January 2014}}
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 Somali and international investors.
Albert Falck was the first CEO of the bank from January 2012 to end of June 2012. He managed the product portfolio creation and launch of the bank.
The banks website was closed in 2016.{{Cite web |date=2024-10-18 |title=Somali bank launches first NFC wearable payment solution to accelerate financial inclusion |url=https://techpoint.africa/2024/10/18/somali-launches-first-nfc-wearable-payment/ |access-date=2025-01-09 |language=en-US}}{{Cite web |date=2022-07-04 |title=Somalia authorizes first foreign banks in decades |url=https://www.africanews.com/2022/07/04/somalia-authorizes-first-foreign-banks-in-decades/ |access-date=2025-01-09 |website=Africanews |language=en}}{{Cite web |date=2024-10-18 |title=Somalia’s 1st Tokenized NFC Wearable Payment Solution Debuts |url=https://www.itnewsafrica.com/2024/10/somalias-1st-tokenized-nfc-wearable-payment-solution-debuts/ |access-date=2025-01-09 |website=IT News Africa {{!}} Business Technology, Telecoms and Startup News |language=en-US}}
See also
{{Portal|Banks}}
Notes
{{reflist}}
External links
- [http://www.firstsomalibank.com/# First Somali Bank]
- [http://www.sunatimes.com/uploads/content/file/1851.pdf First Somali Bank Prospectus 2012]{{Dead link|date=December 2019 |bot=InternetArchiveBot |fix-attempted=yes }}
Category:Companies based in Mogadishu