Licensed by the Central Bank of SomaliaCBS
My Maal is on its way
Soon you will be able to sign in and follow your savings and financing online. Until then, call 2773 or visit your branch.
About us
Established in 2020 and licensed by the Central Bank of Somalia, Maal Microfinance serves micro, small and medium enterprises, women entrepreneurs and young people who lack access to formal banking.
Overview
Maal Microfinance was established to address critical gaps in Somalia’s business sector, formal and informal, with a particular focus on MSMEs and the financial exclusion of women entrepreneurs.
It was founded in response to limited access to tailored financial services, the absence of collateral and asset ownership among women, lack of identification documents, credit assessment that relies heavily on collateral, and persistent poverty caused by inadequate financial inclusion and education.
An initial investment of $1.2 million from an angel investor and a key stakeholder funded the Mogadishu headquarters, licensing and registration, office infrastructure and the first management team. The institution has since grown to include a diverse, experienced board, while the original investors remain key stakeholders.
Our purpose
To become a vibrant MFI that effectively supports financial inclusion and poverty eradication, and to provide an environment for easy access to financial services and products for businesses, MSMEs, youth, women and women in business — formal and informal — in Somalia.
To facilitate and foster an enabling environment for sustainable, empowering, innovative and inclusive educational financial services and products for the poor, women, women in business, MSMEs and businesses, through a customer-based approach and participation.
Growth
Figures from the Maal Microfinance company profile.
Islamic finance
Our financial products are provided within the statutes of Sharia law, and its principles are applied to every product we offer. Our savings programmes follow the same principles.
Strategic objectives
Maal integrates community-based practices with modern financial innovation to empower individuals and entrepreneurs through accessible financial services, education and microcredit.
Education on business models, financial management and business structuring.
Encouraging pooled resources, group savings and structured financial contributions.
Free accounts, collateral-free loans and credit profiling technologies.
Helping start-ups and MSMEs with financial education and business development.
Widening access to financial services for long-term economic empowerment.
Governance
Maal Microfinance has an assembly headed by a chairperson and a Board of Directors led by a revolving chairman. The management team is headed by a Chief Executive Officer accountable to the board.
Strategic oversight, supported by an external auditor.
Sharia compliance; credit; human resources; and risk, compliance & audit.
Leads management, with a chief internal auditor and a chief of risk & compliance.
Finance management and reconciliation, credit assessment and debt recovery.
Dedicated Tooko, Taran and Taakulo managers and officers.
ICT, sales & marketing, HR & administration, housing & real estate, and compliance.
Mandate
Derived from our articles of association, these objectives define how we serve our target customers.
Explore our products, or contact our team about partnerships and media enquiries.
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