Somalia's MyBank Limited launches seamless money transfers to Kenya

MyBank Limited, a prominent financial institution in Somalia, has announced the launch of a new service that revolutionizes the way its customers send money internationally. 

With the introduction of the "International Transfer" feature on the MyBank Application, customers can now easily and directly transfer funds to both banks in Kenya and M-Pesa, a popular mobile money service. 

This significant enhancement addresses a long-standing challenge faced by many users who previously had to endure lengthy processes to facilitate such transactions.

In a formal announcement, the bank's CEO, Abdulrazak Mohamed Ahmed, emphasised the importance of this new feature. 

"We are pleased to inform our customers that they can send money to Kenya while at home or at their workplaces using MyBank Mobile Banking," he said.

Financial solutions

This development not only streamlines the remittance process but also enhances the overall banking experience for users, making it more convenient and efficient.

The decision to implement this service was driven by a clear recognition of customer needs.

Many individuals had been compelled to visit bank branches to send money, often resulting in lost time and added stress. 

By introducing the International Transfer function, MyBank Limited aims to eliminate these inconveniences, allowing customers to manage their finances from the comfort of their own homes or workplaces.

"The new feature aligns with MyBank's commitment to providing innovative financial solutions that cater to the evolving needs of our customers," the Bank's CEO said.

Banking services

MyBank Limited has established itself as a key player in Somalia's banking sector, offering a range of services designed to facilitate financial transactions and promote economic growth. 

In addition to mobile banking, the bank provides personal and business banking services, savings accounts, and loan products, all aimed at empowering individuals and businesses alike.

With the launch of the International Transfer service, MyBank Limited continues to demonstrate its dedication to enhancing customer satisfaction and fostering financial inclusion in Somalia. 

As the bank moves forward, it remains committed to leveraging technology to provide accessible and efficient banking solutions for its growing customer base.

Remittances from Somalia to Kenya topped Sh20 billion in 2023, with most of the proceeds involving money sent home by Kenyans.

With the introduction of the "International Transfer" feature on the MyBank Application, customers can now.