Contribution of commercial banks to the economic development of Mogadishu, Somalia
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Date
2012-02
Authors
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Publisher
Kampala International University, College of Humanities and social sciences.
Abstract
The study aimed at the contribution of commercial banks to the economic development of Mogadishu, Somalia. The objectives of the study were to assess the contribution of commercial banks to the economic development, to identify the challenges faced by contribution of commercial banks to the economic development of Mogadishu and to propose better ways to overcome these barriers faced by commercial banks to the economic development The researcher used the sample size of 100 respondents including, administrators, employees and beneficiaries of these commercial banks. The study was conducted through descriptive research design and used questionnaire as the main tool for collecting data. The findings of the study show that commercial banks contribute on the economic development by facilitating highly speed of money transfers, building economic structures by providing small scale microfinance institutions in Mogadishu and they help the community by providing the savings making them, available to entrepreneurs. Based on the findings, the researcher recommended that commercial banks must devote to operate effective in their community, and also to extend network agents through all the villages and towns in the country. to participate the social responsibility operations by providing fund which could help them to create their own business, lastly the commercial banks must create microfinance institutions in order to enhance small loans to their customers that would like to invest their small and medium sized business (e.g. Farmers and entrepreneurs).
Description
A research thesis presented to the Collage of Higher Degrees and Research Kampala International University Kampala, Uganda in partial fulfillment of the requirements for the Award of Degree Master of Arts in Development Studies
Keywords
Commercial banks, Economic development, Mogadishu, Somalia