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About Us
The National Bank of Somalia (NBOS) was constituted in April 2008 by presidential decree. This is a new bank with a new mission that goes beyond that of the typical bank in Africa, or indeed in any other part of the world. |
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The directors and shareholders are from a wide variety of backgrounds in the financial services sector and are totally international in their approach and business dealings outside of the bank. This extraordinary mixture of abilities provides our clients with an experience and support base that is second to none.
Let’s see, together, if we can bring your projects to life.
Mission Statement
The mission of NBOS is to maximize returns to its shareholders while providing the international financial tools to its clients that will encourage strategic economic development in the Somali Republic.
This will be achieved by:
-Supporting the appropriate authorities in their mission to establish the Somali Republic as the reference for off-shore financial services in Africa
-Providing on-shore banking services that will be the envy of other financial institutions
-Building a network of financial partners that can share the same vision
-Responding to the need for trade and project finance throughout the African continent
and beyond by finding innovative solutions, tailor-made to the economic environment
-Seeking assistance from international organizations that require the commitment,
competence and credibility of a properly structured international bank |
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News 21 August 2008
The Advisory Board of NBOS published interest and exchange rates for the Somali Currency Unit (SCU) for the month of September. The official Base Lending Rate is 4.975% and the exchange rate remains unchanged at 1SCU= 1EUR.
The Advisory Board also noted the importance of reducing the use of payments by bank notes within the Somali economy and welcomed the government’s intended Emergency Regulations that will restrict the circulation of foreign currency within the Somali Republic.
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Exchange Rates
Euro: 1 Euro = 1.000000 EUR 1 Euro = 0.858216 GBP 1 Euro = 1.404902 USD GBP: 1 GBP = 1.165207 EUR 1 GBP = 1.000000 GBP 1 GBP = 1.637002 USD Dollar: 1 Dollar = 0.711793 EUR 1 Dollar = 0.610873 GBP 1 Dollar = 1.000000 USD | |
