STORY: As Somalia continues on positive trajectory,

Visa International partners with IBS bank

DURATION: 3:27
SOURCE: AMISOM PUBLIC INFORMATION
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CREDIT REQUIRED: AMISOM PUBLIC INFORMATION
LANGUAGE: ENGLISH/ SOMALI/ NATURAL SOUND
DATELINE: 7/JULY/2021, MOGADISHU, SOMALIA

SHOT LIST:

1. Wide shot - banner, launching ceremony for Somalia’s first Visa card
2. Med shot - The Prime Minister of the Federal Republic of Somalia, Mohamed
Hussein Roble, cuts the ribbon to officiate the launch of the VISA card by
International Bank of Somalia (IBS) in Mogadishu
3. Med shot - The Prime Minister of the Federal Republic of Somalia, Mohamed
Hussein Roble, inserts an ATM card into the ATM machine during the launch
of the VISA card by International Bank of Somalia (IBS) in Mogadishu
4. Med shot - The Prime Minister of the Federal Republic of Somalia, Mohamed
Hussein Roble keying the PIN on the ATM machine during the launch of the
VISA card by International Bank of Somalia (IBS) in Mogadishu
5. Close up shot - ATM machine screen, during the launch of the VISA card by
International Bank of Somalia (IBS) in Mogadishu
6. Med shot - The Prime Minister of the Federal Republic of Somalia, Mohamed
Hussein Roble, withdraws money using a VISA card at an ATM during the
launch of the VISA card by International Bank of Somalia (IBS) in Mogadishu
7. Wide shot - master of ceremony making opening remarks during the launch
of the VISA card service by the International Bank of Somalia (IBS) in
Mogadishu
8. Wide shot - Somalia's Federal Minister for Information, Culture, and Tourism,
Osman Oboko Dube, the Federal Minister for Justice, Abdulkadir Mohamed
Nor, the Federal Minister for Commerce and Industries, Abdulkadir Sharif
Sheekhuna, attend the launch of the VISA card service by the International
Bank of Somalia (IBS) in Mogadishu
9. Wide shot - Guests attend the launch of the VISA card service by the
International Bank of Somalia (IBS) in Mogadishu
10. Wide shot - Guests attend the launch of the VISA card service by the
International Bank of Somalia (IBS) in Mogadishu
11. SOUNDBITE: (ENGLISH) MAHAT MOHAMED AHMED, THE IBS BANK CHIEF
EXECUTIVE OFFICER
“Visa is a big brand. It's a big name, we all know that. For them to choose to
come to Somalia means quite a lot for us. It means quite a lot for the sector as
a whole and it means that we are on the right path of growth. It means that
we are on the right path of progress and the essence of this event was to
acknowledge that and appreciate that. Just more than the name of IBS being
the first bank, for me that was a critical message I wanted to deliver. We will
continue to make partnerships across the globe. The world has become a
global village. We cannot close ourselves in a room and say that we will
participate within our own rules and orders. We have to stretch out our
hands, work with like-minded multinationals, like-minded organisations to
make sure that we bring convenient and innovative financial solutions to our
people.”

12. Wide shot - (archival footage) Premises of the International Bank of Somalia
(IBS) in Mogadishu, Somalia.
13. Close up shot - (archival footage) Signage International Bank of Somalia (IBS)
in Mogadishu, Somalia.
14. Wide shot - (archival footage) Clients inside the banking hall of the
International Bank of Somalia (IBS) in Mogadishu, Somalia.
15. Med shot - (archival footage) A client walking to the bank counter to transact
at the International Bank of Somalia (IBS) in Mogadishu, Somalia.
16. Close up shot - (archival footage) A bill counting machine at the International
Bank of Somalia (IBS) in Mogadishu, Somalia.
17. Med shot - (archival footage) A client counting dollar bills at the counter at
the International Bank of Somalia (IBS) in Mogadishu, Somalia.
18. Close up shot - (archival footage) A client counting dollar bills at the counter
at the International Bank of Somalia (IBS) in Mogadishu, Somalia.
19. SOUNDBITE: (ENGLISH) MAHAT MOHAMED AHMED, THE IBS BANK CHIEF
EXECUTIVE OFFICER
“There are a lot of new players coming on board now. Two years ago, we had
about five licensed banks, and today we are talking of 13 licensed commercial
banks. That goes to demonstrate the appetite that is there.”

20. SOUNDBITE: (SOMALI) ABDIRAHMAN MOHAMED ABDULLAHI,SOMALIA’S

CENTRAL BANK GOVERNOR
“As the Central Bank of Somalia, we plan to install an electronic verification
system that will ease biometric identification of customers opening bank
accounts or transacting in Somalia. We believe this will help to build
 international trust and confidence in transactions originating from Somalia to
other financial markets.”
21. Wide shot - (archival footage) Automated Teller Machine (ATM) in
Mogadishu, Somalia.
22. Close up shot - (archival footage) Automated Teller Machine (ATM) in
Mogadishu, Somalia.
23. Med shot - (archival footage) A bank client withdrawing cash from the
Automated Teller Machines (ATM) in Mogadishu, Somalia.
24. Close up shot - (archival footage) A bank client inserting a card into the
Automated Teller Machines (ATM) in Mogadishu, Somalia.
25. Close up shot - (archival footage) A bank client typing their PIN to transact at
the Automated Teller Machine (ATM) in Mogadishu, Somalia.
26. Wide shot - (archival footage) Buildings with signposts displaying the
premises of banking and money transfer services in Mogadishu, Somalia.
27. Close up shot - (archival footage) A signpost of the Dahabshiil money transfer
service in Mogadishu, Somalia.
28. Close up shot - (archival footage) A signpost indicating the premises of Sahal
Bank in Mogadishu, Somalia.
29. Wide shot - (archival footage) A roadside money changer counting Somali
shillings notes in Mogadishu, Somalia.
30. Close up shot - (archival footage) A roadside money changer counting Somali
shillings notes in Mogadishu, Somalia.
31. Wide shot - (archival footage) Wads of Somali shillings notes on a stand at the
roadside in Mogadishu, Somalia.
32. Close up shot - (archival footage) Wads of Somali shillings notes on a stand at
the roadside in Mogadishu, Somalia.

As Somalia continues on positive trajectory, Visa International partners with

IBS bank

Mogadishu, 8 July 2021 – With peace and stability returning to Somalia, the country
is beginning to enjoy international banking and financial services that can link the
country to global financial networks for ease of doing business, and also support the
growth of local industries.

On Wednesday, American digital financial payments service Visa announced its

partnership with the International Bank of Somalia (IBS Bank), which will see the
introduction of Somalia’s first Visa financial card payment service. This partnership
opens up Somalia to the cashless payment services for international and local
transactions.
Speaking at the launch, IBS Bank Chief Executive Officer, Mahat Mohamed Ahmed,
said, “for Visa to come to Somalia, it means that we are on the right path of growth
and progress. We’ll continue to make partnerships, and bring convenient and
innovative financial solutions to the people.”

The Visa Country Manager for Kenya, Somalia and Eritrea, Eva Ngigi-Sarwari, said
Visa cards offer safe alternatives to physical handling of cash amidst an ongoing
COVID-19 pandemic.

“The Visa card also offers access to a global market, giving access to over 61 million
merchant locations in over 200 countries,” said Ngigi.

Through the partnership, IBS Bank can now deliver Visa card services to bank clients
in Somalia, which boosts confidence in the Somali financial and banking sector.

In recent years, Somalia’s formal banking sector has witnessed a resurgent growth in
terms of customer base and innovative products. In October 2014, the country’s first-
ever Automated Teller Machine was installed by Salaam Bank to facilitate cash
withdrawals for diaspora returnees and foreigners. Soon after, the American
electronic payments company Mastercard introduced its services in Somalia with IBS
and Premier Banks.

In recent years, Somalia has normalized its relations with the International Monetary
Fund, the World Bank and other international financial institutions after 30 years
outside the international financial system.

“New players are coming on board now. Two years ago, we had about five licensed
banks, and today we are talking of 13 licensed commercial banks. That goes to
demonstrate the appetite that is there,” Mahat said.

For many periods following the collapse of the central government in 1991, the
country’s financial sector has been denominated by informal money-transfer
companies, also known as Hawalas.

According to Somalia’s Central Bank Governor, Abdirahman Mohamed Abdullahi, the

launch of Visa financial cards links Somalia to the global financial system and signals
growing confidence in the country’s banking and finance sector.

“As the Central Bank of Somalia, we plan to install an electronic verification system
that will ease biometric identification of customers opening bank accounts or
transacting in Somalia. We believe this will help to build international trust and
confidence in transactions originating from Somalia to other financial markets,” said
Governor Abdirahman. ENDS