Amal Bank in Burao today unveiled a business growth initiative for domestic businesses owned by women as a part of the bank’s commitment to boosting local economies.
“Amal Bank will extend interest-free loans to small businesses owned by women in Burao. The bank’s motto is ‘development for the person, the family and the business” said Sheikh Adan Yusuf, the manager of the Burao branch of Amal Bank.

“Ten thousand women will benefit from the business growth initiative of Amal Bank. There are criteria to be met to secure an interest-free loan” Jama Abdullahi, the Head of Marketing at Amal Bank added after the same announcement.
A representative from the Somaliland Chamber of Commerce has also reportedly commended Amal Bank for introducing the aptly named Hodmiye (wealth creator) initiative that will inject timely investments into local businesses owned by women in the Burao area.

Amal Bank, headquartered in Mogadishu, has already introduced similar initiatives in the districts of Borama and Bosaso.

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