CONSUMER INFORMATION

We encourage our members to employ best practice when providing financial services, including the highest level of customer care when engaging with the public.

GET KNOWLEDGE ON

THE BANKING CODE A RULE BOOK FOR BANKS WITH STRONG PROTECTIONS FOR YOU

The Banking Code is a set of enforceable standards that customers, small businesses, and their guarantors can expect from Somaliland banks. The Code provides safeguards and protections not set out in the law. It complements the law and, in some areas, sets higher standards than the law. Somaliland banks continually update the Code of Practice to better meet community expectations. Clear, and easy to understand, it outlines protections for all bank customers.

"Financial counsellors welcome the provisions around domestic economies, better promotion of fee-free accounts and more pro-active approaches to people experiencing financial hardships"

Khalif Noor,

Chief Executive Officer-SLBA

Changes in Banking

In addition to the Banking code, Somaliland banks are making other changes to improve customer service and earn the trust, including:

No longer paying product sales commissions to retail bank staff
Dedicated Customer advocates in banks to improve situations for customers when things go wrong
Better protection and support for whistleblowers
Better conduct and oversight of mortgage brokers.

Connect with SLBA

Want to get more information or have inquiries?

eSLBA connect provides an avenue for consumers to clarify any doubts and verify information on conventional banking issues.

Get frequent updates on information about the banking industry in Somaliland

Subscribe to our newsletter so that you don’t miss out.