IBS Bank and VISA Launch Somalia’s First International VISA Card Service
Mogadishu, Somalia – July 7, 2021
In a groundbreaking move for Somalia’s financial sector, the International Bank of Somalia (IBS Bank) has partnered with global payments leader VISA to launch the country’s first international card payment service. The launch ceremony, held in Mogadishu, was attended by Prime Minister Mohamed Hussein Roble and other ministers & Senior officials, marking a historic milestone in Somalia’s journey toward financial inclusion and modernization.
The new VISA Card service allows Somali citizens to make secure payments globally, access international e-commerce platforms, and withdraw cash from ATMs worldwide. This development positions IBS Bank as a pioneer in Somalia’s banking industry.
“This is a proud moment for Somalia,” said Prime Minister Roble. “It shows our commitment to embracing technology and building a modern financial system that serves all Somalis.”
IBS Bank’s CEO emphasized the bank’s dedication to innovation and customer empowerment. “We are thrilled to bring VISA to Somalia. This partnership opens doors for our people to participate in the global economy,” he stated.
VISA representatives highlighted the strategic importance of expanding financial access in emerging markets. “Our collaboration with IBS Bank reflects our mission to support inclusive growth and digital transformation across Africa,” said a VISA spokesperson.
The launch is expected to boost economic activity, support diaspora engagement, and encourage digital payments.
It also aligns with Somalia’s broader goals of improving transparency, reducing financial risk, and fostering entrepreneurship.
IBS Bank plans to expand its digital banking offerings and introduce more innovative financial products in the coming months.
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