Somali banks held $1.63 billion in customer deposits in 2025. Kenya’s banks held about 29 times as much.
Customer Deposits in East African Banks: Somalia vs Its Neighbours (2025)
Tag: banks Somalia
Security Deposit Required to Open a Bank in Somalia
Anyone opening a bank in Somalia must lodge a security deposit with the Central Bank. Foreign-owned banks have to put up twice as much as Somali-owned banks.
Minimum Capital Required to Open a Bank in Somalia
A new bank in Somalia must prove its capital before it is licensed. This minimum capital is separate from the security deposit held at the Central Bank.
How Much Do Somali Banks Add to Murabaha Financing?
Somali banks lend mainly through murabaha. An SRA check in October 2026 found an annual profit margin of 6% to 12%. Rates vary by bank, amount financed…
Licensed Commercial Banks: Somalia, Kenya and Ethiopia (2026)
Somalia has 15 licensed commercial banks, fewer than half as many as Kenya.
