Welcome to IBS Microfinancing. 

Islamic Microfinance is a sector with great potential to expand. It is estimated that 72% of the population living in predominantly Muslim countries do not use financial services. For that reason the IBS’s microfinance program is intended to fill this gap in Somalia. Our Goal is to reach 100,000 beneficiaries in the next five years.

The majority of Somali adult population do not have bank account at a formal financial institution. Our financial inclusion efforts seek to ensure that all households and businesses, regardless of income level, have access to and can effectively use the appropriate financial services they need to improve their lives.

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There are two main mechanisms of financial services that the IBS Bank delivers to Microfinance customers.

• Group-based model where several entrepreneurs come together to apply for financing and other services as a group.
• Relationship-based banking for individuals and small businesses