Somali Instant Payment System (SIPS): Revolutionizing Financial Inclusion and Digital Payments in Somalia

January 22, 2025, Mogadishu, Somalia.

I had the honor of representing Premier Bank as the Acting CEO at the launch of the Somali Instant Payment System (SIPS). The event was graced by the presence of the Prime Minister, the Deputy Minister of Finance, the Governor of the Central Bank, and the CEOs of participating banks.

In a rapidly evolving digital landscape, SIPS is at the forefront of transforming the country's financial ecosystem. Designed and operated by the Somali Payment Switch (SPS) under the guidance of the Central Bank of Somalia (CBS), SIPS aims to enhance financial inclusion, economic growth, digital transformation, and regional integration.

Financial institutions across Somalia are actively contributing to the success of the Somalia Instant Payment System (SIPS). By utilizing this innovative platform, they are helping to bridge financial gaps, improve customer experiences, and drive the country toward a cashless and digitally inclusive future.

What is SIPS?

SIPS is a cutting-edge payment platform designed to enable real-time, secure, and seamless financial transactions. Its centralized infrastructure connects banks, mobile money operators, and financial institutions, ensuring both interoperability and operational efficiency.

Key objectives are to promote financial inclusion for underserved communities, modernize payment systems with e-commerce and online solutions, accelerate economic growth by supporting SMEs and reducing transaction costs, and position Somalia as a leader in the East African digital economy.

Who Owns SIPS?

SIPS is owned by The Somali Payment Switch (SPS). It is operated by the Central Bank of Somalia (CBS) in collaboration with the participating private commercial banks in the country. The SPS serves as a joint initiative to modernize Somalia’s payment systems and is governed by a board of directors representing the CBS and 13 private commercial banks. This governance model ensures inclusivity, transparency, and alignment with national financial sector goals.

The Central Bank of Somalia spearheads the project, providing oversight and ensuring compliance with national laws and international best practices, while the participating banks contribute to its implementation and operation.

Why SIPS is a Game-Changer?

The Somali financial sector has faced challenges such as disjointed systems and limited interoperability. SIPS overcomes these obstacles with innovative features such as:

1. IBAN Numbering System for international standards.
2. ISO20022 Messaging Standard for transparency and compatibility.
3. SOMQR Standard to unify mobile payment solutions.

With these innovations, SIPS provides seamless person-to-person (P2P), person-to-merchant (P2M), and government-to-person (G2P) transactions, fostering a truly inclusive financial ecosystem.

The strategic goals are to achieve financial inclusion by serving 80% of the adult population by 2025, drive economic growth by lowering transaction costs and enabling SMEs, advance digital transformation by modernizing government payment systems and e-commerce, and promote regional integration by facilitating cross-border transactions and connecting Somalia globally.

The roadmap:

1. Phase 1 (2025): Launch basic P2P and P2M payments.
2. Phase 2 (2025-2026): Expand G2P and government systems.
3. Phase 3 (2026): Introduce cross-border payments and API-driven innovations.

A Public-Private Partnership Delivers Hope to Somalia: The New Mogadishu Development

Somalia is entering a new chapter of progress and possibility through an ambitious public-private partnership that seeks to reshape the nation. At the heart of this effort is a plan to transform Mogadishu into a thriving regional hub for tourism, trade, and logistics.

The impact extends beyond the capital, promising economic development and a brighter future for the entire country.

The Blueprint for Progress

Three foundational initiatives support this bold vision:

1. An International Airport: Opening Somalia to the world, fostering travel, trade, and global connectivity.
2. A Maritime Port: Enhancing trade capabilities and integrating Somalia into global supply chains.
3. A Special Economic Zone: Attracting foreign investment, incentivizing local businesses, and driving economic growth.

These projects are designed to attract foreign investment, create much-needed jobs, and bolster Somalia’s economy, laying the groundwork for sustained development.

Key Success Factors

As someone privileged to represent the CEO of Premier Bank at this milestone event, I was deeply impressed by the commitment of Somalia’s leadership and the collective resolve of stakeholders.

However, to ensure the long-term success of this transformative vision, certain critical areas require focused attention:

1. Improving security is intertwined with improving the lives of our people. By creating jobs, investing in health and education, and focusing on the well-being of children, we can build a more stable and prosperous society.
2. Robust infrastructure not only drives economic growth but also attracts immense opportunities for trade and investment.
3. The revival of a national flag carrier will solidify Somalia’s connectivity, enabling regional and global integration.
4. This partnership must open doors for a high quality domestic and international schools, elevating the quality of education and preparing the next generation to contribute to Somalia’s success.

Somalia’s private sector has an immense opportunities to tap in, invest the future and build their country, be enablers of this vision, commit to partner with the public and DFIs to finance and support initiatives that unlock Somalia’s potential. 

Together, we  can help businesses thrive, create opportunities for communities, and ensure that this transformation is inclusive and impactful.

The progress begins here—with collective action, unwavering determination, and a shared belief in Somalia’s bright future. Let’s move forward together.

Celebrating Somali Literature and Culture at the 8th Annual Mogadishu Book Fair

It was a true honor to attend the 8th Annual Mogadishu Book Fair (MBF) this November, marking my second year participating in the closing ceremony of this incredible event. This year’s fair was an inspiring experience, filled with the energy, creativity, and enthusiasm of Somali authors, readers, and cultural enthusiasts. As the Head of Business at Premier Bank, I am proud to be part of a team that has supported MBF since its inception, reflecting our commitment to fostering knowledge, culture, and unity within our community.

The Mogadishu Book Fair has become more than just an annual event; it is a celebration of Somali identity, resilience, and intellectual growth. Every year, MBF brings together diverse voices from across the country and beyond, highlighting the power of literature to bridge communities, inspire thought, and cultivate a sense of shared purpose. The theme of this year’s fair, “Connections through Books,” beautifully underscored the role that reading plays in connecting us to one another, to our heritage, and to new ideas.

A Journey Through My Story and My Role at Premier Bank

Reflecting on my own journey, attending this fair is especially meaningful to me. As a former student at SIMAD University, I remember writing my thesis on an online library project that supported Mastercard and Visa. At that time, banking services were still limited in Somalia, and the tools to empower such an idea were barely within reach. Yet, my passion for reading and my drive to leverage technology fueled my journey, eventually leading me to co-found Tabarak ICT Solutions. My experiences in the technology field laid the groundwork for my career at Premier Bank, where I now have the privilege of supporting initiatives that advance both financial inclusion and cultural enrichment.

Over the past decade, Premier Bank has taken significant steps to make learning and book access easier for our community. Through partnerships with Shop and Ship and Mastercard, we have empowered our customers to purchase books from across the globe, removing barriers to accessing knowledge. This year, we took another major step by launching a payment gateway, which enables Somali authors to share their work with the world and grow their audiences globally. This is more than just a business initiative; it is a gateway to showcasing Somali stories on an international stage.

From Left to right: Amb. James C. Swan – Acting SRSG & Head of UNTMIS, Amb. Mike Nithavrianakis – UK Ambassador to Somalia, HE Hassan Mo'allin – FGS Minister of Justice & Constitutional Affairs, Ali Halane – EgyptAir Somalia Representative, Abdishakur Afrah - Head of business at Premier Bank

A Vision for a Brighter Future

During my speech at this year’s fair, I was also proud to announce a new commitment from Premier Bank — the creation an exhibition center with digital library and a capacity of 1,000 people. This initiative will serve as a cornerstone for education, culture, and inspiration, providing our community with access to valuable resources and a space to host events like MBF, helping this annual celebration grow and evolve.

However, creating spaces for knowledge and culture requires collective support. As I shared in my remarks, Mogadishu currently lacks a public library — a gap that limits opportunities for learning and growth. I urged international partners, local businesses, and supporters of the Mogadishu Book Fair to join us in investing in a vision for a public library in Mogadishu. With their support, we can establish a center that provides future generations with a foundation for lifelong learning and connection.

Looking Ahead

The Mogadishu Book Fair is a testament to the strength and resilience of Somali culture, and every year, it grows in reach and impact. Our partnership with MBF for the past eight years reflects our commitment to supporting not just financial growth but also the cultural and intellectual well-being of our community. Witnessing the enthusiasm of attendees, the creativity of authors, and the spirit of collaboration, I am filled with hope for the future of Somali literature and cultural heritage.

As we look to the future, I am excited to see how MBF will continue to evolve and to be part of Premier Bank’s journey in empowering Somali voices. To everyone who took part in this year’s fair — thank you for your dedication, creativity, and passion. Together, let us continue to build a Somalia where knowledge, culture, and opportunity thrive.

Business Opportunity - Mashruum Coffee

 

Ganorderma Lucidum

Red Reishi (Ganoderma lucidum), commonly known as Ling Zhi in Chinese, is a herbal mushroom known to have miraculous health benefits.

So what is so good about Reishi? 

• It is non-toxic and can be taken daily without producing any side effects.
• When it is taken regularly, it can restore the body to its natural state, enabling all organs to function normally.
• Immune modulator – regulates and fine tunes the immune system.

Oriental medical science aims at healing the body by  normalizing the cells, tissues, organs and systemic function to achieve optimum wellness and cure illnesses. Western medical professional had recently recognized this as preventive science. The easiest way to achieve this, is by taking Ganoderma.

Ganoderma is used in China for 2.5 thousand years and untill recently used for other parts of the world.

Key benefits of Ganoderma: 

• Normalization of physical processes
• Gear up toxin excretion
• Supply of the function of the body defense system
• Significant result in the regulation of blood pressure, blood sugar and fattened blood

How can we manage?

The success story of coffee begin in the 15 century. From that time, coffee is known for its energizing refreshing effects. After some decades, the coffee has tremendous spread.

Based on further researches, we should look coffee in a new approach. Coffee has positive effect on the body If consumed within reason, reduces the risk of many illnesses that area related to liver. 

The opportunity

Opportunity lies with coffe. Social media can be your next tool to embrace the opportunity.

Facebook has more than 1.59 billion monthly active users

http://www.naturalproductsinsider.com/news/2013/04/83-of-us-adults-drink-coffee.aspx

Some thing more common on all of us More than 4 billion of us drink coffee. Some like Instant Coffee, Cappuccino Cafe latte. It is part of our life, our daily routine. They don’t forget to drink their coffee. 

The question is are they going to try a different coffee and feel the difference?

A good coffee is essential!

You can do a big business beside DXN coffee. Any where around the world, The love of coffee connects us all. No business investment. 

Coffee drinkers know each other!

Everyone loves how easy it is to make instant coffee. If you prefer a little more creamy taste to your coffee, reach for our Lingzhi Coffee 3 in 1 Lite. It is another new variant of the DXN Lingzhi Coffee series which delivers a smooth and full-bodied coffee with an irresistible aroma. Just add one sachet of the Lingzhi Coffee 3 in 1 Lite into 150ml of hot water and stir to enjoy a sensational new coffee experience with DXN.

Lingzhi Coffee 3 in 1 Lite

For more information, visit www.dxn2u.com. 

Building dynamic, data-driven app with MVC 5.

Building dynamic, data-driven app with ASP.NET MVC 5

Join me for a fun, informative tour of Building Dynamic, Data-driven app with MVC 5 seminar at University of Somalia Bar Ubah Campus. 

The first session of the seminar start off a little slower. They introduce some of the fundamental concepts in ASP.NET MVC, and assume little or no experience with it. Participants who have some experience with MVC, don’t worry! We won’t mind if you skim through the first session, and the pace picks up in subsequent sessions.

Outline

1.        Introduction to MVC pattern and how ASP.NET  MVC implements that pattern

a.       Getting Started: helps you get started with ASP.NET MVC 5 development. Then, you’ll begin creating a new ASP.NET MVC 5 application.

b.        Controllers: explains the basics of controllers and actions. You’ll start with some very basic “hello world” examples, and then build up to pull information from the URL and return it to the screen.

c.        Views: explains how to use view templates to control the visual representation of the output from your controller actions. You’ll learn about the Razor view engine, including syntax and features to help keep your views organized and consistent.

d.        Models: teaches you how to use models to pass information from controller to view and how to integrate your model with a database (using Code-First development with Entity Framework).

e.        Forms and HTML Helpers: dives deeper into editing scenarios, explaining how forms are handled in ASP.NET MVC. You’ll also learn how to use HTML helpers to keep your views lean.

f.         Data Annotations and Validation,” explains how to use attributes to define rules for how your models will be displayed, edited, and validated.                

2.        Introducing some more advanced concepts and application

a.        Membership, Authorization, and Security: teaches you how to secure your ASP. NET MVC application, pointing out common security pitfalls and how you can avoid them. You’ll learn how to leverage the ASP.NET membership and authorization features within ASP.NET MVC applications to control access, and learn important information about the new ASP.NET Identity system.

b.        Real-world ASP.NET MVC, Hackathon and closure

3.        This seminar does not cover the following advanced areas. In that case, participants should study them online:

a.        Ajax: covers Ajax applications within ASP.NET MVC applications, with special emphasis on jQuery and jQuery plug-ins.

b.        Routing: digs deep into the routing system that manages how URLs are mapped to controller actions.

c.        ASP.NET Web API: shows how to create HTTP services using the new ASP. NET Web API.

d.        Unit testing: teaches you how to practice test-driven development in your ASP.NET applications, offering helpful tips on how to write effective tests.

e.        Advanced Topics: looks at advanced topics and covers sophisticated scenarios in Razor, scaffolding, routing, templating, and controllers.

WHAT YOU NEED TO APPLY THE HANDS-ON CODE EXAMPLES

To apply the hands-on code examples, you’ll probably want a copy of Visual Studio. You can use Visual Studio Express 2013 for Web or any of the paid versions of Visual Studio 2013 (Such as Visual Studio 2013 professional). Visual Studio 2013 includes ASP.NET MVC 5. Visual Studio and Visual Studio Express are available from the following location:

·        Visual Studio: www.microsoft.com/vstudio

·        Visual Studio Express: www.microsoft.com/express/

A charming night in DXN, call it a life.

The night of April 20, 2015

DXN Dubai office Announcement
I have received the below message from DXN Dubai. Probably, all DXN registered members in UAE receive the same.

DUBAI: Personality Development Program in ENGLISH on "ACHIEVING EXCELLENCE THROUGH ATTITUDE" tonight at 8.45PM. Trainers: Mr.FATEMI GHANI & Mr.ATHAR SAJID KHAN.

Unlike previous sessions, this session was full of charm and lessons learned from Athar Sajid Khan, a motivational speaker. Started with introduction from Salem, DXN international trainer and Fatemi Ghani, one of the successful DXN members and international trainer. Fatemi kicked off the session with short description of his classmate in Pakistan Air Force Academy. Both men share the same background, the jobs and yet have links.

Athar comes into the stage as a very simple, less enthusiastic. He started by describing his law voice as a big tone that can reach to an audience of more than 500 without microphone. It looked just a proclaim to gain attention.

Jump started with few questions
I wonder what would be your answer to "What's life"? Whatever you are thinking about, according to Athar, being in DXN and listening to him on that particular moment is life.
In a few minutes atmosphere is under his control. Fantastic gestures.

Athar raises enthusiasm among audience.

Attitude is affected by factors such as schooling, customs, believe, faith and more. Unlink believe, faith is not required to be justified, and you can't.

It is all about communication
In DXN, it is the people that drive the business. A laugh is worth to fake, Athar says. According to Ammy Cuddy, Athar says "Fake it, fake it, till you make it". 

Baba laugh
When negative thoughts come into being, choose to be happy. A positive attitude shows you a bright side of your life. Negative attitude hinders to achieve success.

Deserve a reward
I don't know what other kept in their mind, I though what would be the pledge. Just a applause wasn't enough. All stood up. That was funny. I remembered my friend Dino, I left him at home. I wish he was with us. 

Fatemi Ghani hands a DXN executive kit to Athar

Finally, a DXN executive kit was a perfect reward for the speaker. It was understood Athar's merit is his sincerity. Fatemi Ghani hands the reward to Athar and call his talk "a commendable generosity".