Salaam Somali Bank, which is a leading privately-owned bank in Somalia is brilliantly contributing to the country’s economic growth by providing free microfinance funds to develop small businesses.
On Tuesday, 24th November 2020, the Bank’s branch in Adado n central Somalia provided funds to the local traders, who thanked for timely and much needed support that will help grow their commerce.
The beneficiaries of the free microfinance program express gratitude to Salaam Somali Bank’s management and staff, saying it's an Exemplary step to follow by other financial banks in the country.
“We’re very happy with the investment opportunity provided by the Salaam Somali bank,” said one of the small business owners in Adado town who have today benefited from the free microfinance fund.
The free microfinance is part of Salaam Somali Bank’s annual program aimed at improving the small businesses in all regions across Somalia to play a vital share in boosting the economy and alleviating poverty.
Qardul Hassan is a monthly banking program designed to be rolled out in all regional and urban banking centers in the country and is destined to raise and motivate the growing businesses.
The bank has already provided such free microfinance to the local merchants at its main headquarters, including Mogadishu, the Somali capital, and assured to carry out the program in the remaining areas.
The main purpose of the bank is to increase the productivity of evolving businesses and encourage entrepreneurs in a bid to empower small traders in Somalia, one world's highest unemployment rates.