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KIMS has announced the opened of its new branch at Kismaanyo City in South Somalia

KIMS has announced the opened  of its new branch at  Kismaanyo City in South Somalia

On Thursday, 26Th November 2015, Kaah Express in Kismayo office and Kaah Islamic Microfinance Services (KIMS) launched the opening ceremony of its office in Kismayo  Town. It was a great development for many of the middle and lower class family to witness the launch of the opening ceremony  of Kaah Islamic Microfinance  Services  (KIMS) in Kismayo.

Kismanyo residents appreciated the launch which will facilitate microcredit based on Islamic principles. KIMS  provides  Murabaha  which  has  become  an  effective  tool  for  most  of  the  small  scale traders in Somalia.

Sixty  guests were participated the event  from  Jubbaland  Chamber  of  Commerce,  Jubbaland  Youth  Association, Jubbaland  Women  Association,  Kismayo  University,  Lower  Jubba  University,   Deputy Commission of Lower Jubba in the side of Public Relations, the Head of Salaam Somali Bank Kismayo  Branch,  Shaqodoon,  representatives  from  traders  in  Kismayo,  religious  leaders, community  elders,  and  various  small  scale  traders  were  invited  into  the  launching ceremony. 

Especial  key  speakers  at  the ceremony  were  Mr.  Abdullahi Sheikh  Mohammed  (KAAH Express  Kismayo  Branch  Manager),  Mr.  Mukhtar  Sheikh Ahmed  (Vice  Chairman  of Jubbaland  Chamber  of  Commerce),  Khadar  Ali Haraare  (Salaam  Somaali  Bank Branch  Manager),  Abdukhadir Sheikh  Mohammed  Hikam (Head  of  Kismayo  University), and  Abdi  Bare  (Deputy Commissioner  of  Lower  Jubba in the side of Public Relations).The  ceremony  was  officially opened  by  Mr.  Abdullahi.  He welcomed  and  thanked  the honorable  guests  for  accepting the  invitation  for  this  endeavor. He  handed  over  to  Mr.  Muthane (KIMS  Kismayo  Branch  Manager) to  delve  deeper into the  program and  elaborate  it  to  the community.  Mr.  Muthane elaborated  the  Islamic  Financial initiative to the guests. The  new  service  was  an opportunity  for  the  poor, underprivileged  and  un-bankable people  that  have  not had financing services  since  the  collapse  of the central government.

The program was KIM’s endeavors for promoting microfinance and financial inclusion in the country.  These  efforts  have  undoubtedly  assisted  in  broadening  of  financial  services access  to the  lower and  middle class  in other parts of the country and now it was the turn for Kismayo and entire Jubbaland Community to take advantage of the program.

KIMS saw the role of  Islamic  microfinance  as pivotal  for  inclusive  and sustainable  economic  growth, livelihood  creation, and grassroots  level  development.  Even though  KAAH  Express  just started  the  microfinance services  in March 2013, it has fully  fledged  its  muscles  to various  major  towns  in  the country  such  as  Hargeisa,  Borame,  Bossasso,  Burco, Beletweyne,  Mogadishu,  and Kismayo.  The  service  has emerged  as beacon of financial liberty  outpacing the early  livelihood programs introduced by  INGOs  and  LNGOs  in  the  region.  KIMS  has  a  well-recognized  legal  and  regulatory framework for microfinance based on Islamic Principles.

The  small  scale  traders  have welcomed  and  praised  the  new financing  initiative  adopted  by KAAH Express  for launching the financial  sector  strengthening.  Lack  of  adequate  financing options  and  weak  coordination among  the  various  traders  are indeed the factors inhibiting the growth  of  microfinance  sector in Kismayo and Somalia at large. Most  of  the  guests  mentioned that  the  initiative  taken  by KIMS  to  overcome these  constraints  is  therefore  both  timely  and  appropriate.    KIMS is  placing microfinance in the overall context of the effort to expand the outreach of financial services and help  the  goal of  poverty alleviation  in the country.  It  is encouraging  the  provision  of credit to small and  medium  scale traders  through  Murabaha.

 KAAH Express believes that this is the only durable basis through which the poor can benefit from the Islamic financial package made  available  to  them.  KIMS  has  decided  to  adopt  an  all-inclusive approach  where  thousands  of  small  and  medium  scale  traders  can  take  advantage  of  the  promotion and spread of microfinance in Somalia.

Finally,  the  ceremony  was  closed  by  Mr.  Abdi  Bare  who  congratulated  the  courageous initiative  taken  by  KIMS  in  helping  the  youths and women through t he entrepreneurship.


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