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Somalia gets first cash machine Somalia gets first cash machine
(10 days later)
When 21-year-old student Salma Abdi ran out of cash on a Friday in Mogadishu she used to be without money all day as banks are closed in Somalia. But now Abdi does not need to be bound by bank opening hours as the city has gained its first cash machine.When 21-year-old student Salma Abdi ran out of cash on a Friday in Mogadishu she used to be without money all day as banks are closed in Somalia. But now Abdi does not need to be bound by bank opening hours as the city has gained its first cash machine.
“There are out-of-hours and weekend days where you cannot find any bank services at all, so the ATM is the one which helps me. Now I need not be trapped,” she says.“There are out-of-hours and weekend days where you cannot find any bank services at all, so the ATM is the one which helps me. Now I need not be trapped,” she says.
Safety remains a concernSafety remains a concern
The novel machine is being run by the Salam Somali Bank, a privately-owned financial institution, from the premises of a luxury hotel. Said Mo’alim, the bank’s marketing manager, says they are starting with just one ATM as a pilot project to test the security situation in Mogadishu.The novel machine is being run by the Salam Somali Bank, a privately-owned financial institution, from the premises of a luxury hotel. Said Mo’alim, the bank’s marketing manager, says they are starting with just one ATM as a pilot project to test the security situation in Mogadishu.
“We have set up the first machine here in Hotel Jazeera because it is a more secure place, but in the future we anticipate extending the machines to other places downtown,” Mo’alim told the Guardian.“We have set up the first machine here in Hotel Jazeera because it is a more secure place, but in the future we anticipate extending the machines to other places downtown,” Mo’alim told the Guardian.
Mo’alim knows that launching the ATM is not without risk. Armed gangs remain a threat. The installation of the cash machine, however, is the latest indication that Somalia is slowly rebuilding its fractured society after almost two decades of conflict. The ATM’s arrival came as Somalia’s first postal service since 1991 was launched, complete with national postcodes.Mo’alim knows that launching the ATM is not without risk. Armed gangs remain a threat. The installation of the cash machine, however, is the latest indication that Somalia is slowly rebuilding its fractured society after almost two decades of conflict. The ATM’s arrival came as Somalia’s first postal service since 1991 was launched, complete with national postcodes.
The Salam Somali Bank is one of around a dozen private banks and investment firms which have opened in Mogadishu after 2011’s ousting of al-Shabaab militants from the capital. Despite these new shoots of activity in the financial sector, many Somalians remain dependent on remittances. A hefty portion of the country’s national income is derived from diasporic Somalians sending money home from countries like the UK.The Salam Somali Bank is one of around a dozen private banks and investment firms which have opened in Mogadishu after 2011’s ousting of al-Shabaab militants from the capital. Despite these new shoots of activity in the financial sector, many Somalians remain dependent on remittances. A hefty portion of the country’s national income is derived from diasporic Somalians sending money home from countries like the UK.
New hope for tourismNew hope for tourism
As Somalia emerges from its years of unrest, there are hopes of attracting increasing numbers of tourists to the country. Mogadishu’s lone cash machine dispenses US dollars, in common use for business in Somalia due to the minimal value of the Somali shilling. At the current exchange rate, one British pound is worth just over 1,239 Somali shillings.As Somalia emerges from its years of unrest, there are hopes of attracting increasing numbers of tourists to the country. Mogadishu’s lone cash machine dispenses US dollars, in common use for business in Somalia due to the minimal value of the Somali shilling. At the current exchange rate, one British pound is worth just over 1,239 Somali shillings.
Mo’alim believes that the ATM will prove useful for both foreign visitors and members of the Somali diaspora on fleeting trips to the capital. “Bankcards used in Europe, USA, Asia or even Africa can be used here, including the Mastercard, Visa, American Express etc,” he said.Mo’alim believes that the ATM will prove useful for both foreign visitors and members of the Somali diaspora on fleeting trips to the capital. “Bankcards used in Europe, USA, Asia or even Africa can be used here, including the Mastercard, Visa, American Express etc,” he said.
“I am glad and also really amazed that I can use my Visa card“I am glad and also really amazed that I can use my Visa card
Ali Mohamed, a Somalian émigré visiting Mogadishu from London, greeted the arrival of the machine as an unexpected plus. Ali Mohamed, a Somalian émigré visiting Mogadishu from London, greeted the arrival of the machine as an unexpected plus.
“I am glad and also really amazed that I can use my Visa card, so that I won’t need any more cash to take in my pocket,” Mohamed said.“I am glad and also really amazed that I can use my Visa card, so that I won’t need any more cash to take in my pocket,” Mohamed said.
“Before this, it would be difficult, as I had to take more cash from Dubai or Istanbul on my way to Mogadishu. But now you can see I have nothing to worry about,” he says.“Before this, it would be difficult, as I had to take more cash from Dubai or Istanbul on my way to Mogadishu. But now you can see I have nothing to worry about,” he says.
The ATM has already attracted much interest from Somali locals as well, however, with young Somalians particularly intrigued by the technology.The ATM has already attracted much interest from Somali locals as well, however, with young Somalians particularly intrigued by the technology.
“People are surprised at how it is possible that this small machine on the wall can bring you cash money,” Mo’Alim said. “We see some young men coming here to see the machine, even with no bank card to use.”“People are surprised at how it is possible that this small machine on the wall can bring you cash money,” Mo’Alim said. “We see some young men coming here to see the machine, even with no bank card to use.”
But some of them struggle with one factor in particular: the cash machine’s instructions are all in English.But some of them struggle with one factor in particular: the cash machine’s instructions are all in English.
“I speak only the Somali language so it is hard for me to use the ATM,” Mogadishu shop-owner Ibrahim Gule told the Guardian.“I speak only the Somali language so it is hard for me to use the ATM,” Mogadishu shop-owner Ibrahim Gule told the Guardian.
“It is different. At the bank, there is a banker who will tell you in the Somali language to sign your cheque book.”“It is different. At the bank, there is a banker who will tell you in the Somali language to sign your cheque book.”