Somalilandsun: Somaliland is set for a new Islamic bank courtesy of a partnership between local entrepreneurs and counterparts from Thailand.
This came to light at the Central bank in Hargeisa where the governor Ali Ibrahim Jama Baghdadi hosted talks with visiting Panglobe Company executives and their local partners, namely Prof Peter Phongphaew Chairman of Panglobe Company and his Africa manager Prof Jamal Thornhill, local Panglobe Company partners in attendance were Prof Eid Alisalan Ahmed Chairman of Ilays Enterprise and Prof Saeed Ahmed Hassan, Principal of Gollis University
Addressing a joint post meeting press briefing the Somaliland central bank governor Ali Ibrahim Jama Baghdadi said that the country welcomes the investment from Panglobe company that include banking and other sectors.
According to Prof Eid Alisalan Ahmed a senior partner of the international company the planned investment in the banking sector shall be fruitful to the country in terms of job creation as well as developments of other sectors of concern to the Bangkok base company that include agriculture, water, soil science, climate technology.
Stressing the importance that his company places on its planned investment in Somaliland the chairman of Panglobe Company Prof Peter Phongphaew said that they are determined to connect Somaliland to Asian, Australian and European markets.
Touching on the importance of the high delegation from the Panglobe company which is among top in the Bangkok, Australian and European financial sector the president of Gollis University and a local partner of the Thai company Prof Saeed Ahmed Hassan said that accrued benefits of the imminent investment shall help minimize the illegal migration scourging the country through massive youth movement abroad by establishing job creation as well as advancing locally available skills.
The duo of visiting Panglobe Company is not only businessmen but also scientists with wide experience in agriculture, water, soil science, climate technology. They are committed to improve water system in Somaliland and first pilot project will be Lasaconate water to improve their quality.
They are well briefed by Eid and Said, the Somaliland National Development Plan and the 9 different sectors and with their scientific experience and knowledge and extensive international network they have built over the years they are with collaboration of Saeed and Eid committed to contribute the development of natural resources of Somaliland.
The proposed bank which will join others with Islamic tenets in the country including Premiere, Salaam and Dahabshil brings a difference in that it is not only focused on the financial sector alone but eyes development of agriculture, water, soil science, climate technology.
Keep watch of this site for detailed information on this incoming investment of International magnitude.
Watch the meet between Panglobe Company and Somaliland Central Bank
Very interesting information, especially about Prof. Dr Peter Phongphew who told me much about his ideas for Somaliland trusting much good, will come out of these ideas.
Dip.-Pol. Karl-Heinz Heerde, Hamburg, Germany and Tema,Ghana