Draft:SomBank
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|  |
| Type | Private |
|---|---|
| Industry | Banking |
| Headquarters | Mogadishu, Somalia |
| Products | Islamic banking services |
SomBank is a commercial bank headquartered in Mogadishu, Somalia. The bank operates under a license issued by the Central Bank of Somalia and provides Sharia-compliant financial services.
History
SomBank was established in 2017. The bank was founded to provide Islamic banking services in Somalia following the formal re-establishment of the Somali banking sector.
Operations
SomBank provides retail and corporate banking services, including Islamic finance products such as Murabaha, Ijara, and Musharaka. The bank operates branches in Somalia.
Certifications
In 2025, SomBank announced that it had achieved ISO/IEC 27001:2022 certification for its Information Security Management System (ISMS).[1]
Technology
In 2020, SomBank selected the Temenos cloud-native Islamic Banking platform — including Temenos Transact and Temenos Infinity — to support its core and digital banking operations as part of its digital transformation strategy."Sombank Selects Temenos Islamic Banking for Accelerated Digital Transformation". Global Banking & Finance Review. 2020."Sombank picks Temenos Islamic banking systems". FinTech Futures. 2020.
Mastercard Partnership
In July 2023, SomBank partnered with Mastercard to launch the “SomBank Card”, a Mastercard-branded debit card designed to expand digital payments and financial inclusion in Somalia."Mastercard and SomBank announce partnership to launch debit card in Somalia". Mastercard Newsroom. 4 July 2023."Mastercard and SomBank launch debit card in Somalia". Fintech Intel. 18 July 2023.
Regulation
SomBank is licensed and regulated by the Central Bank of Somalia, listed among the licensed commercial banks operating in the country.[2]
See also
References
- ^ "ISO 27001:2022 Certificate". SomBank. 2025.
- ^ "Licensed Banks". Central Bank of Somalia.
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