News and Events
Press Release Beledweyne Events:
Kaah Islamic Microfinance Services ( KIMS) launched new project named KIMS Pluz in Beledweyne on 5th November 2015.
The aim of the event was to announce that KIMS is providing finance to young entrepreneurs living in Hiran Region to establish and grow SMEs through KIMS Pluz youth Entrepreneurship Initiative
KIMS Hiiraan regional manager Mr Xiirey Sh. Abdi opened the ceremony and welcomed the participants of the event.
He called the interested young entrepreneurs to submit applications to receive business loans focused small and medium sized enterprises.
Mr Xiirey highlighted the eligibility criteria for KIMS plus which provides equal opportunity for both male and female youth entrepreneurs aged 18-35 years whose desires to start new business or expand their eaxisting businesses.
He stated to those who are interested this project to fill the application form and concept note completely. Applicants should be willing to attend business training courses for a 3-4 month period whick will take place in Beledweyne, the training would be provided by our partner Shaqo doon Organisation.
Mohamed Abdullahi Buraale* chair person of youth organization in Hiiraan region delivered speech and welcomed this youth entrepreneurs initiative and stated that it is a golden opportunity for the youth and he called the youth to be ready to pick up this opportunity and apply for the loan investment.
Different demographic groups from society participated in the event including women organizations, business companies, youth entrepreneurs, religious and traditional leaders.
Traditional Leaders Mr Ibrahim Gure Ali and Farah Raage( Farax Faro dheere) and businessman Mr Abdi Ibrahim also delivered speeches in the ceremony; they welcomed this project and thanked KIMS to take this youth enterpreneurship initiative. The speakers encouraged the youth (both males and female) to take this opportunity and wish success for the project.
Abdi Abdillahi Hassan,
KIMS Public Relation Manager
KAAH Express is a leading international Money Service Business (MSB) that serves Somalia. It has an extensive network of agents worldwide, as well as a fully developed network of branches and agents in Somalia, enabling the provision of money transfer services in virtually all cities, towns and larger villages across the Somali territories.
KAAH Express operates in more than 40 countries, serving close to 100,000 clients a month and supporting the transfer of millions of US dollars a year. The vast majority of which flows from the global Somali diaspora back to Somalia.
To meet this huge unmet demand, an innovative private-public partnership model has been developed to enable KAAH to expand its current services to include sharia-compliant microfinance via a new spin-off company –
“Kaah Islamic Microfinance Services” (KIMS).
KAAH Islamic Microfinance (KIMS) was established in March 2013 as the first private sector microfinance institution in the Somali territories (South Central Somalia, Somaliland and Puntland). It aims to provide a diversified set of commercially viable Islamic financial services to meet the unmet demand for microfinance. KIMS prioritizes enterprise financing through Sharia compliant products but also creates savings and insurance products to meet community needs with particular attention to women and youth.
KIMS will namely make available loans to persons or groups of people that do not qualify for traditional financial services or are otherwise viewed as being high risk. Our main target groups are women and youth who are self employed or desires to become new entrepreneurs.
KIMS provides revolving loan fund lending aim to help new project or business owners become financially independent and eventually to become eligible for loans from commercial banks.