Telesom Group Shines at Somaliland Banking and Finance Conference

By: SomalilandMonitor

Telesom Group and its subsidiary companies, Darasalam Bank and its mobile banking arm, Zaad Service were present in full force by exhibiting new financial services at the first Somaliland Banking and Finance conference in Hargeisa on Saturday.

The two-day conference inaugurated by president Muse Bihi Abdi and jointly organized by Somaliland Ministry of Finance and Central Bank of Somaliland with the aim of providing academics and practitioners with a forum for presenting their research findings and discussing current and challenging issues in banking, finance, money and financial macroeconomics.

This Year’s theme is ‘Promoting Banking and Financial Sector’ and the conference is discussing the promotion of country’s banking and financial sector by creating a financial inclusive system that gives access to small businesses as well as connecting citizens to banking and financial services.

All private banks, insurance companies, Telecommunication firms and mobile-banking providers participated.

His Excellency the President of the Republic of Somaliland, Musa Bih Abdi, officially opening the conference, made it clear that his government expected private institutions to lace their leading role in the financial climate of Somaliland with moral obligations always putting national interest before other considerations.

The President said looking out for the customer and creating more jobs, at the same time, was an obligation that, also, ensured their long-term sustainability and profitability.

“Without an able customer, there will be no enterprise. It is as simple as that,” he said.

“We are looking for ways to create greater synergy between public and private institutions in order to create an enabling environment and purchasability for the common man on the street,” President Bihi said.’

Telesom Group’s public relations manager Mr. Abdiwahab Maah who also spoke at the conference highlighted the importance of Telesom’s mobile money transfer service, Zaad Service which he said eliminated the threat of theft and facilitated the transfer of cash.

“By introducing Zaad service, Telesom Group pioneered to provide modern, safe and secure financial service to the Somaliland community. Where Zaad Service’s local and global success attracted world attention including being referenced by Bill Gates” Abdiwahab Maah Said.

“The financial and technological solutions we brought to Somaliland has made great impact in connecting our diaspora to the local citizens” he added.

Mr. Maah also noted that Telesom Group welcomes the efforts of the Somaliland government to encourage foreign investment in the country and to encourage the establishment of a more legitimate and transparent legal system in our country.