Dahabshiil was founded by Mr. Mohamed Saeed Duale. It started off as a remittance brokerage selling imported goods from Gulf states on behalf of migrant workers and transferring the proceeds back to their families. In the year 1970 Dahabshiil opened its first shop in Burao, the capital city of the Togdheer province in North-West Somalia; now known as Somaliland. Over the next 18 years Mr. Mohamed and his support staff expanded the business making it the leading remittance broker in the Horn of Africa region.
In 1988 the Somalia civil war, that broke out forcing more that half a million Somalis to seek refuge in different parts of the world, was a major setback to the business. This however didn’t kill Mr. Duale’s dream. With limited resources, strong network of business associates and his experience, Mr. Duale set up a new remittance venture enabling Somali refugees to send goods back to displaced family members. The influx of Somali population in the United Kingdom enabled setting up of a new office there and as long as their population grew, so did Dahabshiil.
In 2009, Dahabshiil made banking history by launching the first ever debit card in Somaliland. The following year we opened an Islamic bank in Djibouti.
Over 40 years on since we began, Dahabshiil has stuck to the original values it was founded upon; trust and responsibility. We have zero debt and our business is 100% family owned. We are still committed to our fair commission fee policy.
As part of our CSR, Dahabshiil continues to support the Somali community both in Africa and abroad, investing 5% of its profits into community regeneration projects involving the development of schools, hospitals, agriculture and sanitation.
To be the leading Money Transfer Service for East African Communities wherever they live.
To become a truly Global Money Service Company which consistently exceeds Customer expectations.
Expanding company branch networks and Partnerships
Investing in our staff
Utilizing new and cutting Edge technologies
Complying with all International Regulations.
On behalf of the Board, Management, staff, agents and partners of Dahabshiil Group, I wish to extend my greetings to you and your families on the occasion of the year 1435 of the Hijra Calendar and the start of 2014.
The year 2013 saw our Group performance grow from strength to strength thanks to efforts by our staff and continued loyalty from our customers. We continue to grow and innovate whilst retaining our original qualities of trust, integrity and customer focus.
The significant challenge for the Group in 2013 was the announcement by Barclays that it was removing banking services from 250 companies in the UK including Dahabshiil’s money transfer business in Britain. I would like to thank all of those who were so supportive of us and the issue. Our confidence in the strength of our case made us determined to take it to the High Court. An interim injunction issued by the High Court in London in November means we continue to have banking arrangements.
We use the services of a number of banks throughout the world, including our own bank Dahabshil Bank International, in order to best serve our customers.
Despite these challenges, Dahabshiil Group delivered good results and the Group continues to increase its financial strength throughout the world. We are confident that 2014 holds further opportunities for our growth and performance.
During 2013 we made further progress, expanding our money transfer services into more remote regions across the territories in which we operate to ensure we offer fast, reliable and efficient services to even more people. We have met and will continue to consistently meet and surpass regulatory and anti-money laundering requirements within the countries that we operate.
Corporate Social Responsibility
Dahabshiil has donated millions of US dollars to education and health projects, and supporting relief efforts, which has had a real impact on the communities of the Horn of Africa. Dahabshiil also provides money transfer services and other financial services, essential for delivering much needed aid, to international humanitarian organizations. The United Nations describes Dahabshiil services as “the only safe and efficient option to transfer funds to projects.”
Support for Education: In an Interview Prof. Ahmed Abdullahi Boqore, Deputy Director of Amuud University, said that, “Apart from providing facilities and infrastructure to learning institutions, Dahabshiil has gone one step further by donating their valuable time and resources free of charge to various institutions”. Meanwhile Mohamed Ali a student at Mogadisho University said, “Dahabshiil Company not only supports the academics but also sports and other extra-curricular activities so as to bring forth well-rounded scholars.”
Promotion of health: Dahabshiil is very proud to be one of the biggest investors from the private sector supporting hospitals and health centres in East Africa and the Horn of Africa. In these regions, Dahabshiil helps develop the infrastructure and provides financial support, equipment and drugs to help with people’s health needs. The health institutions that Dahabshiil has supported over the past few years include Las Anod Hospital, Burao Hospital, Garoowe hospital, Hargeisa General Hospital, Benadir Hospital, Madina Hospital and Kaysenay Hospital.
Support with Relief efforts: Being largely semi-arid, the Horn of Africa is a food and water deficit region and there are often instances where sections of society are in dire need of relief food. Dahabshiil donates funds to aid relief efforts, working alongside international humanitarian organizations. For example, in August 2011, the company donated an initial US$100,000 to drought victims in south central Somalia, one of the largest corporate donations