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Premier Bank has transformed international money transfers with the launch of its enhanced SWIFT payment service, enabling businesses and individuals to send and receive funds globally with unprecedented speed and security. The new direct SWIFT connection eliminates previous transaction delays, positioning Premier Bank as a leader in financial innovation across East Africa.
The upgraded platform allows seamless transactions in major global currencies, including the US Dollar (USD), Euro (EUR), Chinese Yuan (CNY), UAE Dirham (AED), and Saudi Riyal (SAR). This breakthrough removes currency limitations that previously hindered importers and exporters, fostering economic growth and attracting foreign investment.
Abdishakur Afrah, Premier Bank’s Head of Business, described the service as a “game-changer” for Somalia’s financial sector. “After years of effort, we have broken down barriers to global financial connectivity, empowering businesses to compete effectively on the international stage,” Afrah stated.
The direct SWIFT service is expected to accelerate trade, enhance financial inclusion, and support Somalia’s strategic integration into regional and global markets. By facilitating swift and reliable fund transfers, Premier Bank aims to strengthen its position as a trusted financial institution driving economic transformation.
Premier Bank, a licensed commercial bank operating across East Africa, has consistently pioneered innovative financial solutions tailored to customer needs. This latest advancement reinforces its leadership role in fostering a robust and inclusive financial ecosystem.
With the new SWIFT service, businesses and individuals can now transact internationally without the delays and inefficiencies that previously plagued cross-border payments. The move is expected to boost investor confidence and streamline financial operations for Somali enterprises seeking global expansion.
As Premier Bank continues to innovate, its commitment to financial excellence remains unwavering. The direct SWIFT connection marks a significant milestone in Somalia’s banking sector, setting a new standard for efficiency and reliability in international transactions.