About us

Who We Are

Dahabshil Bank International (DBI) is a fully-fledged Sharia compliant bank licensed by the Central Bank of Somalia. Incepted in 2012, our primary markets are in East  Africa, Middle-East, Western Europe and North America. We combine world-class customer service, the highest ethical standards of Sharia and the latest technology, to bring cost-effective products and services to our customer. DBI is all about accountability, integrity and profitability! Our dedicated team and networks are committed to provide accessible and affordable sharia compliant financial solutions to our customers.

DBI operates in an important and rapidly growing East Africa niche market, with presence in all Somali regions. Throughout the years, we have shown impressive growth in terms of balance sheet size and networks. Also, the increasing demand for our products is a testament to our success.

about-inner

Our Brand

Our brand reflects the new aspirations of Africa – young and vibrant, on its route to success and we are a part of it! Our logo encapsulates growth and prosperity. Embodied with our long heritage, we are firm and dedicated to provide best in class sharia compliant solution to our customers

Vision

To offer the highest standard of banking services to our customers, achieve the highest return on capital among while having a maximum development impact on the community.

Mission

We succeed by focusing on three key objectives: Accountability, Integrity and Profitability.

Accountability comes from selecting world-class people, processes and technology; we maintain a solution-oriented culture where top performers are rewarded.

Integrity is a result of upholding Sharia principles, which we consider as universal values that benefit our customers.

Leveraging our platform over a large market share in our key markets; our proven ability to provide inclusive and socially responsible banking services beyond traditional customers is one of our competitive advantages.

Values Statement

Key values underpin all our work. It starts with Sharia compliance, which means interest free banking, treating customers as investors and sharing profits with them. Second, we are driven to contribute to the local and regional communities that we serve by increasing access to bank accounts and connecting the region to the international financial system. Third, transparency is an integral part of our operations, both towards regulatory bodies and towards our customers.

CORPORATE SOCIAL RESPONSIBILITY

DBI feels a keen sense of responsibility to contribute to the communities that we serve.

  • Improving access to banking for rural and low income urban populations.
  • Providing a vital link from the Horn of Africa to the International Financial System.
  • Meeting the financial services needs of International Development and Humanitarian Organisations operating in the Horn of Africa region
  • Contributing to appropriate charities in the Horn of Africa and in countries with a significant presence of Horn of Africa Diasporas

The bank is firmly opposed to any discrimination on the basis on ethnicity, religion, race or culture. Dahabshil Bank International will continue to uphold universal values of solidarity, inclusiveness and protection of the environment.


Exit

Identification Documents

  • A valid proof of Identity of each signatory (current Driver’s License/ National ID/ International passport/ Student ID card-for students)
  • Proof of address – utility bills for the 3 previous months/certificate of residence/ tenancy agreement
  • Two passport size photo’s
Exit

MusharakahMutanaqisah:

MusharakahMutanaqisah (MM) means diminishing partnership with an imbedded Ijarah (lease) element. Itisa form of Musharakah where the financier and the client participate in a joint commercial enterprise or property. This enterprise is converted into undivided ownership of both the financier and the client. Over certain period the equity of financier, divided into equal value units, is purchased by the client. And ultimately the client becomes the sole owner of the enterprise.

Modus Operandi

  • Customer identifies the asset with price.
  • Seller provides details, terms & conditions.
  • Customer approaches the bank asking for MusharakahMutanaqisah financing.
  • Bank approves with terms & conditions i.e. profit sharing, loss sharing and payment of capital portion for agreed period.
  • Customer & bank contribute the capital i.e. 10:90.
  • The asset is leased to the customer based on monthly rental.
  • Customer pays the rental along with fixed capital portion.
  • Monthly rental amount will be jointly shared among bank & customer according to the % share-holding at particular time i.e. changing as customer redeems the bank’s capital portion. Thus customer sharing ratio gradually increase after each rental.
  • Transfer of ownership will take place upon entire payment is made and eventually the asset is fully-owned by the customer.
Exit

Istisna’:

Istisna’ means sale on order i.e. the sale of goods by way of placing an order where the price is paid in advance or progressively but the assets are manufactured and delivered at a later future date.

Modus Operandi

  • The buyer (Customer) places an order to purchase an asset (e.g. building, house) to be delivered in the future.
  • The buyer requires the seller (Bank) to construct the asset based on the specification that stipulated in the sale and purchase contract that agreed by both of the contracting parties. These specifications include the nature, type, quantity of the asset and also delivery date.
  • Then, both of the parties decide and agree with the sale and purchase price and any changes cannot be made after that.
  • The payment can be made either on spot cash or in installments. It’s not required for the buyer to pay the full price at the time of contract.
  • Lastly at the delivery date, the seller will deliver the order to the buyer.
Exit

Murabaha

Murabahah or murabaha, (Arabic مرابحه): a sale transaction, compliant with Shariah, where the bank (seller) expressly mentions the cost it has incurred on the commodities to be sold and sells it to a customer by adding some profit or mark-up, which is known to the customer.

Modus Operandi

  • The bank first determines the requirements of the customer in relation to the asset to be acquired, period and manner of repayment.
  • The bank purchases the asset concerned
  • The bank subsequently sells the said asset to the customer at an agreed price which comprises:
    • The actual cost of the asset to the bank;
    • The bank’s margin of profit
  • Customer settles the payment in lump sum or in installments within the period and in the manner so agreed
Exit