By Abdullahi Salad - Reporter
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Mogadishu, 19 October 2026 Salaam Somali Bank has inaugurated its new branch building at Suuqbacaad market in Mogadishu’s Yaqshid district.
The ribbon-cutting ceremony, on 19 October, was attended by Suuqbacaad traders, the bank’s management and other guests. All services from the bank’s previous branch have been transferred to the new centre, where customers can access modern banking services.
The chairman of Suuqbacaad traders, Yusuf Sheikh Mohamud Sheikh Mohamed, said the centre was built after the market’s traders asked Salaam Bank to set up a branch there, a request the bank accepted. He noted that construction of the large building took five years.
“It is a joy for us to cut the ribbon this afternoon on our Salaam Bank centre in Somalia’s second-largest market,” he said, adding that the traders and the bank share a happiness that cannot be contained.
Businessman Abukar Ali Hiraabe said he was pleased that a Somali bank, entrusted with Somali wealth, is investing in Somali people. He noted that the bank finances everyone from the young woman selling goods in the market to the biggest traders.
“The hardest thing to safeguard is wealth, and you have kept Somali wealth safe,” Abukar said, wishing all Somali banks continued progress.
The manager of Salaam Bank’s Suuqbacaad branch, Osman Sheikh Ali, said the centre was built for the Somali community and the traders in the area. He pledged that its service will be transparent, trustworthy and honest.
He added that the centre will be fully equipped, offering every banking service, including those that were previously unavailable. “This house is your house, and this work is your work,” he said.
Salaam Somali Bank was established in October 2009. It is an Islamic bank serving individuals and businesses, and it offers mobile banking through DEEQTOON and the Salaam App.