Leading Somali bank partners with Visa to bolster banking services

CCTV News

Leading Somali bank partners with Visa to bolster banking services

A new partnership between one of Somalia’s largest banks and Visa credit cards could be a vital step in improving the country’s banking services.

CCTV’s Abdulaziz Billow reports from Mogadishu.

Leading Somali bank partners with Visa to bolster banking services

Leading Somali bank partners with Visa to bolster banking services

A new partnership between one of Somalia's largest banks and Visa credit cards could be a vital step in improving its global banking system CCTV's Abdulaziz Billow reports from Mogadishu.

“Today we are pleased to launch our new product – the VISA card,” Abdirizak Mohamed Ahmed, head of operations for Premier Bank said. “This comes at a time when many Somalis are slowly returning back from abroad. Our aim is to facilitate them access their cash at our local outlets here at Premier Bank.”

Back in April 2015, Premier Bank struck a deal with MasterCard which a move highly welcomed by many across the country.

Ahmed said that the challenges are immense but he was still hoping to target everyone across the country with this new strategic agreement.

“We want to address the banking needs for our clients all across the country. That’s why by end of 2016 we will have centers across major cities in the country  and this will allow our clients to enjoy both MasterCard and VISA card services,” he added.

Following this new agreement, Somali business men and women and Premier Bank customers will now have access to their bank accounts via the ATM network 24 hours a day. They will be able to use their secure payment cards at points of sale within Mogadishu and abroad.