Bank of Somaliland

In 1952, National Bank of India (NBI), which later merged with Grindlays Bank to form National and Grindlays Bank, established branches in Berbera and Hargeisa in what was then British Somaliland. NBI, the first bank in the protectorate, was the banker to the colonial government until in 1960 the State of Somaliland (formerly British Somaliland) joined the Trust Territory of Somalia (formerly Italian Somaliland) to form the Somali Republic.

After the bloodless coup d'état of 1969 that saw Mohamed Siad Barre's ascension to power, in 1971 the government nationalized the four foreign banks. The government combined Banco di Roma, Banco di Napoli, and National and Grindlays Bank to form the Somali Commercial Bank. The government also established the Somali Savings and Credit Bank to take over the commercial branches of Banca Nazionale Somala and Banque de Port-Said, leaving the Banca Nazionale Somala with only central banking functions. The Somali Savings and Credit Bank had branches in Baidoa, Beledweyne, Berbera, Bosaso, Burco, Galkacyo, Qardho, Hargeisa and Kismayo, and for a time also in Djibouti. In 1990, the Commercial and Savings Bank of Somalia discontinued operations. The Central Bank of Somalia also ceased to function at an undetermined date.

The Bank of Somaliland was established in 1994, three years after the independence of Somaliland. It has branches in most cities and towns in the country, with a recent one being built in Oodweyne.