Garowe (Sahan Post) – Private banks operating in Puntland have, for the first time, established a joint umbrella association aimed at strengthening cooperation, safeguarding common interests, and coordinating efforts to support social and economic development across the region.
During an inauguration ceremony held in Garowe, representatives from several major financial institutions elected the leadership of the newly formed Puntland Banks Association. Participating banks included Dahabshiil Bank, Salaam Bank, Amal Bank, Premier Bank, IBS Bank, SomBank, and Daryeel Bank.
Two candidates contested for the position of chairperson: Cali Siciid Maxamuud of Dahabshiil Bank and Khaliif Maxamed Jaamac of Salaam Bank. Following a secret ballot, Khaliif Maxamed Jaamac was elected as the first chairman of the Puntland Banks Association.
Meanwhile, Cali Cabdiqaadir Ciise of Amal Bank—who ran unopposed—was elected as the association’s deputy chairperson.
The formation of this umbrella body marks a significant step toward coordinated banking sector development in Puntland, with expectations that it will enhance collaboration, promote financial stability, and contribute to wider economic progress.
Reported by Sahan Post
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