ISLAMIC BANKING
Shariah Compliant Business Finance
At Salaam Somali Bank, we strive to make your success simple. We offer a wide range of Islamic banking services tailored to your needs. With our Islamic banking you can get access to Shariah-compliant finance, manage your funds online or by using our mobile banking option.
ISLAMIC FINANCE SOLUTIONS
Shariah-Compliant Finance Products
Discover our comprehensive range of Islamic finance solutions designed to meet your business needs while adhering to Shariah principles.
Musharakah
Equity Based Finance
Under Islamic jurisprudence, Musharakah means a joint enterprise formed for conducting some business in which all partners share the profit according to a specific ratio while the loss is shared according to the ratio of the contribution. It is an ideal alternative for the interest based financing with far reaching effects on both production and distribution.
Musharakah
Mudarabah
Mudarabah
Equity Based Finance
This is a kind of partnership where one partner gives money to another for investing in a commercial enterprise. The investment comes from the first partner who is called "Rab-ul-Maal" while the management and work is an exclusive responsibility of the other, who is called "Mudarib" and the profits generated are shared in a predetermined ratio.
Murabaha Finance
Asset Based Finance
Is a particular kind of sale where the seller expressly mentions the cost of the commodity purchased, and sells it to another person by adding some profit thereon. Thus, Murabaha is not a loan given on interest; it is a sale of a commodity for cash/deferred price.
Murabaha
Istisna
Istisna
Asset Based Finance
Istisna is a sale transaction where a commodity is transacted before it comes into existence. It is an order to a manufacturer to produce a specific commodity for the purchaser. The manufacturer uses own material to produce the required goods.
Ijaarah
Lease
It is an arrangement under which a bank leases equipment, building or other facility to a client against an agreed rental.
Ijaarah
Qardul Hassan
Qardul Hassan
Free Loan Based Finance
A benevolent loan extended on goodwill basis where the borrower is only required to repay the principal amount borrowed. This is a true interest-free loan that embodies the spirit of Islamic social finance.
MICROFINANCE
Empowering Entrepreneurs
We're here to support you at the beginning of your entrepreneurial journey and turn your dream into a business reality.
Through our Qardhul Hasan programmes, we've supported thousands of sole traders across the country, through small loans of $3,000 USD.
ENTREPRENEURSHIP FUND
Meet Our Entrepreneurs
We gave a microloan to Saafi Honey. It started with one beekeeping farm, and has grown to be the country’s leading producer of natural, premium honey.
We’re always looking for innovative businesses that support Somalia’s growing economy. If you’re looking to start your entrepreneurial journey, get in touch.
