Customers doing brisk business inside Premier Bank in Mogadishu This modern bank has 6 branches in Mogadishu and 1 in Hargeysa 70% of all banking is...
{"Image ImageDescription": "MOGADISHU, SOMALIA, 5 AUGUST 2017: Customers doing brisk business inside Premier Bank in Mogadishu. This modern bank has 6 branches in Mogadishu and 1 in Hargeysa. 70% of all banking is done by phone in Somalia and is done in dollars. The lack of a local currency is a weakness for Somalia, especially in the import/export sector. The central Bank of Somalia is working towards a national currency roll-out. Premier is the first bank to offer Mastercard and Visa facilities and Somalis have been quick to embrace this. The bank is also doing a lot of loan business which is helping with local business development. Premier credits the 2011 arrival of the Turks with renewed interest in investment in Somalia, since then they feel Mogadishu has experienced a steady growth. Premier also makes extensive use of social media to advertise their services and also facilitates online banking, something which plays well to security minded Somalis. The IMF is currently helping to restructure the central bank of Somalia and the bankers association is creating a regulated and supervised structure for national banks. (Photo by Brent Stirton/Getty Images Reportage)", "Image Copyright": "2017 Getty Images"}