MOGADISHU, SOMALIA – Premier Bank has officially announced a major upgrade to its international money transfer services using the global SWIFT system, marking a key step in connecting Somalia’s financial system to international markets.
In a press release, Premier Bank stated that all its customers can now send and receive international payments directly through the updated SWIFT platform, overcoming the limitations of the old system.
Customers are now able to transact in all major global currencies, including the US Dollar (USD), Euro (EUR), British Pound (GBP), Chinese Yuan (CNY), UAE Dirham (AED), and Saudi Riyal (SAR).
This new system removes previous obstacles for Somali businesses involved in imports and exports, who had struggled due to limited currency options.
Abdishakur Afrah, Head of Business at Premier Bank, said this milestone is the result of years of effort to lift Somalia out of financial isolation and allow the country to fully engage with the global financial system.
“This is a new chapter for Somalia’s financial sector. It shows our strong commitment to improving financial services and boosting local business,” said Afrah. Premier Bank, a licensed commercial bank operating across the Horn of Africa, is known for its modern services, constant innovation, and customer focus. The bank plays a key role in developing the country’s financial system and supporting economic growth by providing services tailored to the needs of the community.
