It goes without mentioning that International Bank of Somalia takes a big and giant part in the development of the country that rarely remembered by the world. The International community believes that Somalia has unfinished business such civil war, suicide attack and daily bombing.
Such pessimistic beliefs by the west have no idea what IBS does to Somalia in terms business creation, financing enterprises, job creation and restoring hope for Somalia. Itโs clear that Great Somalia went through stages of violence which hugely jeopardized the whole economy of the country.
Unfortunate ongoing manmade problems resulted huge division of the Somali Nation and later federalism was introduced.
Somalis are always the same in terms of Language, culture, history and most importantly our nationalism. Despite these catastrophes the International Bank of Somalia emerged and has done the wonders in play a big role simply by doing service that gave a big hope for Somalia.
Before the relegation of the money was simply by warlords, Bakara Market and Remittance but now the IBS closely works with the Central Bank of Somalia and by a well known system explored by a English Economist called Adam Smith which he introduced a economic theory that named Supply and Demand.
There is an invisible hand which made the Somali economy a powerful one and this is the IBS. This is by providing loans to those who have brilliant business ideas. Those already have a business but want to enlarge it, are ones that are targeted.
The IBS facilitated the people who have cash by opening for them saving, cash, and investment accounts. Surprisingly enough that if you deposit cash in IBS, you can simply withdraw it in Bank of the world and this is done by creating an international account.
All in all, there is a good news that every part of Somalia will have a branch and even there will be a big one Somaliland especially Hargeisa called International Bank of Somaliland by the will of Allah.
Yahya Osman Yousuf
Somalipeace92@gmail.com
063-4451089