HEADLINES:

Al-qaida Share ,IBS bank Somalia launches Visa Card Payment

0
Saturday July 17, 2021 - 04:33:10 in Articles by Super Admin
  • Visits: 18916
  • (Rating 0.0/5 Stars) Total Votes: 0
  • 0 1
  • Share via Social Media

    Al-qaida Share ,IBS bank Somalia launches Visa Card Payment

    Waagacusub.net - IBS Bank Somalia, which is believed to have the largest amount of money, Al-Qaeda Finance Secretary Fazul Abdallah from Comoros has started issuing Visa Card Payments for the first time. Al-Shabaab's finance secretary confirmed

    Share on Twitter Share on facebook Share on Digg Share on Stumbleupon Share on Delicious Share on Google Plus

Waagacusub.net - IBS Bank Somalia, which is believed to have the largest amount of money, Al-Qaeda Finance Secretary Fazul Abdallah from Comoros has started issuing Visa Card Payments for the first time. Al-Shabaab's finance secretary confirmed that Mohamed Ali Warsame had $ 157 million in cash, according to Khalif Ereg, who was later bribed with $ 2 million.
Visa has partnered with the International Bank of Somalia (IBS Bank) to launch Somalia’s first Visa card payment service. This partnership will enable Somalians to enjoy both global and local cashless payment opportunities. 

"For Visa to come to Somalia, it means that we are on the right path of growth and progress. We will continue to make partnerships and bring convenient and innovative financial solutions to the people,” said Mahat Mohamed, the CEO of IBS Bank.

Somalia, a country that had no formal banking or financial system since the collapse of its government in 1991, has been making serious headways in reawakening the pulse of its financial entities. 

In 2014, 47 years after the Automated Teller Machine was invented and 25 years after it was introduced in Nigeria and Kenya, Salaam Bank installed the first-ever ATM in Somalia in Mogadishu, the capital state. The ATM was to facilitate cash withdrawals (dollars) for only diaspora returnees and foreigners. 

Then a year later in June 2015, MasterCard became the first international payment network to enter the Somalia market in partnership with Premier Bank and issued 5,000 debit cards to be used by Premier Bank account holders, for domestic transactions.

"New players are coming on board now. Two years ago, we had about five licensed banks, and today we are talking of 13 licensed commercial banks. That goes to demonstrate the appetite that is there.” Mohamed added.

According to Somalia’s Central Bank Governor, Abdirahman Mohamed Abdullahi, the Visa partnership will connect Somalia to the global financial system and show the growing confidence in the country’s banking and finance sector.

The presence of both Mastercard and Visa in Somalia will help position its market as arable land ready to receive seed and produce a bounty harvest.

"We plan to install an electronic verification system that will ease biometric identification of customers opening bank accounts or transacting in Somalia. We believe this will help to build international trust and confidence in transactions originating from Somalia to other financial markets,” Abdullahi said.

With more partnerships like this, popular conversations around Somalia can increasingly focus on innovation and entrepreneurship.

Written By Omar Hilowle
Share on Social Media

ICG Calls on EU to Step In and Resolve Somalia's Election Deadlock

The International Crisis Group (ICG) has urged the European Union (EU) to play a more proactive role in ending Somalia's escalating political standoff, warning that prolonged instability could undo years of fragile progress and allow Al-Shabab to regain strength. Full Article

 

Alasow Medical Center provides a complete support system for patients traveling from Somalia to India for medical treatment

Alasow Medical Center – Overview Alasow Medical Center is a specialized medical facilitation organization that supports Somali patients seeking treatment in India. The center operates under the vision of improving access to quality healthcare for Somali citizens through professional guidance, affordable assistance, and compassionate care. Full Article

 

Somalia army and Jubaland forces edge closer to conflict

Waagacusub.net- Somalia's army and Jubaland forces are teetering on the edge of conflict, as the military buildup intensifies daily and tensions show no signs of de-escalating, Caasimada Online news website reported on Monday. Full Article

 

Somalia accuses Ethiopia of weapons smuggling for fourth time

Somalia's government on Sunday accused Ethiopia of smuggling arms into the country for the fourth time this year, further alleging its involvement in supporting regional officials, subject to court warrants and actively pursued, in efforts to destabilize the nation. Full Article

 

Villa Somalia and Jubaland now teeter on the edge of full-blown war

Somalia's President Hassan Sheikh Mohamud and Jubaland leader Ahmed Madobe, previously allies in the nation's political landscape, now find themselves on the brink of war after a divisive National Consultative Council meeting revealed profound rifts, prompting both sides to mobilize for a possible showdown. Full Article

 

Somalia's leader mourns death of Namibia president

Waagacusub.net - Somalia's President Hassan Sheikh Mohamud on Sunday mourned the death of Namibia President Hage G. Geingob and sent condolences to the government of the African country. Full Article

 

Somalia's ex-president warns of risk of 'political crisis' over plans to overhaul constitution

Waagacusub.net - Somalia's former President Mohamed Abdullahi Farmajo on Monday warned of the risk of political crisis over plans by the incumbent President Hassan Sheikh Mohamud to overhaul the constitution. Full Article

 

Egyptian President says will protect Somalia against anz threat

Waagacusub.net - Egyptian President Abdel Fattah el-Sissi said his country will protect Somalia against any threat in what can be described as an indirect response to recent Ethiopia's move to access the seaport of Somaliland. Full Article

 

Egypt Condemns Suicide Bomber Attack in Somalia

Egypt on Tuesday condemned a suicide bomber attack in Somalia that killed at least 20 soldiers. The attack took place at a training camp in the Somali capital, Mogadishu, on Monday. The al-Shabab terrorist group claimed responsibility. Full Article

 

Somalia:War to Defeat Al Shabab Militarily

President HSM's Proclamation to Defeat Al-Shabab by Force in Somalia To overcome the complex problems of civil war, state fragility, and underdevelopment, the Somali people supported risky political changes for a government that promotes freedom, justice, peace, and prosperity in Somalia. For example, the Islamic movements enjoyed popular support to end the brutal reigns of warlords and the military occupation of Ethiopia and establish new government. Full Article

 


Leave a comment

  Tip

  Tip

  Tip

  Tip

  Tip


Somali Activist Group Calls for Swiss Investigation into TikTok Influencer "Khalid Mula"

The Somali-led watchdog organization Solda Safety Network has filed a formal request with Swiss authorities to investigate Mohamed Mohamud, a Somali national living in Lausanne who is known on TikTok as "Khalid Mula."

Somalia accuses Ethiopia of weapons smuggling for fourth time

Somalia's government on Sunday accused Ethiopia of smuggling arms into the country for the fourth time this year, further alleging its involvement in supporting regional officials, subject to court warrants and actively pursued, in efforts to destabilize the nation.

Villa Somalia and Jubaland now teeter on the edge of full-blown war

Somalia's President Hassan Sheikh Mohamud and Jubaland leader Ahmed Madobe, previously allies in the nation's political landscape, now find themselves on the brink of war after a divisive National Consultative Council meeting revealed profound rifts, prompting both sides to mobilize for a possible showdown.

Somalia:War to Defeat Al Shabab Militarily

President HSM's Proclamation to Defeat Al-Shabab by Force in Somalia To overcome the complex problems of civil war, state fragility, and underdevelopment, the Somali people supported risky political changes for a government that promotes freedom, justice, peace, and prosperity in Somalia. For example, the Islamic movements enjoyed popular support to end the brutal reigns of warlords and the military occupation of Ethiopia and establish new government.

Somalia:$17 million external support has not been channeled through the country's single treasury account

Waagacusub.net -Auditor General Mohamed Ali alias Afgoi has exposed missing millions of dollars from key departments within the Federal Government of Somalia [FGS], in what could raise questions about government expenditures. In his report, Afgoi said 25 entities and three embassies have been audited. Unsupported expenditure amounts to $9M; contracts worth $31M not registered with auditor general's office, the existence of unauthorized bank accounts outside the Treasury Single Account.

Land Grabbing in Mogadishu Escalates — Thousands of Women and Families Displaced

Widespread land grabbing and forced evictions are once again tearing through Mogadishu, leaving hundreds of women in detention and thousands of families homeless. Most of the victims belong to the Hawiye clans, particularly Habargidir, Abgaal, and Murusade, according to residents and human rights activists. Full Article

 

ICG Calls on EU to Step In and Resolve Somalia's Election Deadlock

The International Crisis Group (ICG) has urged the European Union (EU) to play a more proactive role in ending Somalia's escalating political standoff, warning that prolonged instability could undo years of fragile progress and allow Al-Shabab to regain strength. Full Article

 

AI's Growing Shadow: Why Journalists Must Stay Vigilant in the Age of Synthetic News

Although artificial intelligence (AI) currently plays only a small role in fact-checking, its potential to generate highly convincing fake news remains deeply concerning. Experts warn that as AI tools become more powerful and accessible, journalists and fact-checkers must remain alert—especially during elections, when misinformation can most easily distort public opinion. Full Article

 

Waagacusub Media: The Most Trusted Voice of Independent Journalism in East Africa

For over two decades, Waagacusub Media has stood as a pillar of integrity, truth, and independence in East Africa's media landscape. Established in 2003, the organization has earned a distinguished reputation as the most trusted source of independent news and information, serving Somali and global audiences with credibility and courage. Full Article

 

Waagacusub Media is a not-for-profit cooperative of news organizations dedicated to uncovering

Waagacusub Media is the most trusted source of independent news and information in East Africa, serving audiences worldwide with credible journalism. As the definitive source for news, Waagacusub's reporting, photography, interactives, audio, and video content are published and broadcast by Somalia's leading newspapers, TV channels, apps, radio stations, websites, and magazines. Full Article

 

Hormuud telecom and Al-Shabaab's Strategy of Destroying Mobile Communication Masts

Hormuud's Assault on African Peacekeepers Figure 14: African Peace Keepers Hormuud launched a scorching public campaign against the Kenyan military forces in AMISOM in late August 2019. Full Article

 

Former Intel official stripped from NISA membership

Former Intel official stripped from NISA membership Full Article

 

PM KHEYRE USELESS AND COSTY OVERSEAS TRIPS.

PM KHEYRE USELESS AND COSTY OVERSEAS TRIPS. Full Article

 

Abiy says 'New Year' will be celebrated in Eritrea, Ethiopian Airlines to resume flights

Abiy says 'New Year' will be celebrated in Eritrea, Ethiopian Airlines to resume flights Full Article

 

Massive rise in Islamist militant attacks in Africa

Massive rise in Islamist militant attacks in Africa Full Article