Somalia grants operating licenses to Türkiye's Ziraat Katilim Bank as the first Turkish international bank to operate in the Horn of Africa country
Somalia and Türkiye are enjoying special relations, with Turkish companies now investing in the country.
After a meeting in the capital Mogadishu on Saturday, directors of Somalia's Central Bank said in a statement that it has granted two international banks to operate in Somalia. The application of the two banks underwent months of intensive process and both banks can now establish and operate branches in Somalia, according to the statement.
"Ziraat Katilim Bank is a solid bank that will add value to the development of Somalia's financial sector and contribute to the growth of Somalia's economy", said Abdullahi.
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