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For the first time, Djibouti and Somali entrepreneurs have jointly ventured to establish an Islamic bank in the Republic of Djibouti. The new bank, Salaam African Bank, was opened on the 27th of December 2008 with highly organized grand ceremony. The new bank would deliver state of the art quality services and facilities to the customers such as online banking,mobile banking, ATM (automatic teller machine), Debit cards, letter of credits etc. The projects of the bank pledging investment and development are undertakings, The bank functions are based on the Islamic principles and will not charge interest on its transactions. |
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