Egypt, Turkey banks to operate in Somalia ...Kuwait

Somalia said on Sunday it had awarded licences to two foreign banks as the troubled Horn of Africa nation opens up the industry to international lenders. State-owned Banque Misr of Egypt and Turkey's Ziraat Katilim will become the first international banks to operate in the country, Somalia's central bank said in a statement. "The application of both banks underwent months of an extensive process," it said, adding that they had the green light to establish and operate branches. "They are both solid banks that will add value to the development of Somalia's financial sector and contribute to the growth of our economy," the statement quoted Central Bank of Somalia govern

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Egypt, Turkey banks to operate in Somalia ...Kuwait

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