Money transfer has never been easier and more compliant with Somalis and East Africans. In a world that looks more and more askance at sums of money wired from one end of the world to another, observing international laws is a must.
The success the firm achieved throughout the world is partly because it has become a trustworthy, highly reliable conduit for transfer of moneys in countries within which it operates. This, in turn, attracted Diaspora members whose honest earnings had no use for subterfuge and shady dealings with brokers.
Dahabshiil can be found in places that even older money transfer firms had not reached. It is friendly. It is reliable. It is efficient. It is compliant – and, above all, it is fast reaching beneficiaries within the minute.
Since the introduction of eDahab – the company’s mobile banking service – the company’s reach has more than quadrupled.
Because of the combination above, and the fact that it is as accessible in Somali rural and very remote areas as it is in the developed world, Dahabshiil is the first choice with international NGOs, development partners, and UN bodies. It is also because no other money transfer business has the reach, the staff or the insurance to deliver on agreed parameters.
According to the company’s official web page, Many international organizations have recognized the crucial role of remittances, both during humanitarian crises and for development. For example, organizations including the United Nations, World Bank, Oxfam and others comment regularly on the importance of money transfer services. They describe them as a life-line for millions of people, especially those living in rural communities where other financial services, such as banks, do not exist. Dahabshiil is very strong in rural communities. As well as enabling Africa’s very poorest people survive, Dahabshiil allows others to invest and create jobs, contributing to growth on the continent.
International organizations have also recognized that companies like Dahabshiil are a much safer and more desirable option compared with informal channels, which are not subject to checks on where the money comes from and where it goes.
The existence of companies like Dahabshiil is viewed as crucial to sustaining a healthy atmosphere of competition. This helps keep prices down and the standard of service high. Dahabshiil has some of the most competitive rates available.
Dahabshiil works with a number of renowned partners either in money transfers or in the provision of Internet and GSM services indispensable to mobile banking and customer notifications.
Besides national and international banks, worldwide, among the company’s frontline partners include Money Exchange, Suri Exchange, Al Kurami, Aktif Bank, Money Express, ZenJex, Somtel, UPT, Mahindra Comviva and a great number of local companies in many of the countries the company has a presence.
Dahabshiil, an indigenous African company, was founded in 1970. It was set up as a new remittance venture to enable migrants to send money to family and friends back in the countries of East Africa. Dahabshiil has grown to be the largest African money transfer business operating in 126 countries across the world, 40 of which are in Africa. It remains a business committed to its original values of trust, reliability, integrity and customer-focus.
In addition to serving individual customers, Dahabshiil offers money transfer and banking services to businesses and international organisations, including the United Nations, World Bank, Oxfam and Save the Children. They rely on Dahabshiil to provide payment services to their staff, contractors, government institutions and partner NGOs. The United Nations describes Dahabshiil’s services as ‘the only safe and efficient option to transfer funds to projects’.