Published On: Sat, May 16th, 2015

Dahabshiil maintains lower commission rates despite price changes

Dahabshiil MallHargeisa(ANN)On 15 May 2015 Dahabshiil made some slight adjustments to some of its commission fees for international money transfers, a FAQ brief published on the company’s website stated.

The new pricing structure, according to the brief, makes slight adjustments to the percentage charge on the exchange rate when sending money overseas for customers.

“On average, our fees have gone up by 1% which means we still remain highly competitive and in fact cheaper than many of our larger competitors,” it said.m

Why a commission?

As is the case with every money transfer company, the company applies a small surcharge (commission rate) for each customer transaction. This surcharge covers the operational costs of running the business and the costs of meeting regulatory responsibilities.

In order for the company to continue providing the most efficient, secure and reliable service to customers, Dahabshiil occasionally reviews its transaction pricing structure.

It is the first time in over 15 years that Dahabshiil has made such a change to its prices.

There are a number of reasons, according to the statement,  that justifies the decision, namely:

  • The increased costs of meeting regulation
  • The increased costs of managing and operating a UK wide cash operation

Lower Pricing

Dahabshiil has cause to state that it takes pride in providing the most efficient, secure and reliable service to customers at the best available rates.

In 2014, a report from the Overseas Development Institute (ODI) described some of the company’s competitors in the remittance sector as imposing a “super tax” on remittances to Africa, calling on the Financial Conduct Authority (FCA) to investigate.

Dahabshiil, Africa’s largest money transfer firm, was not, commendably, implicated as part of this report because the company’s commission fees were typically lower than the industry average.

Dahabshiil has a network of  over 24 ooo operators and agents in 144 countries worldwide making it a most-trusted, formidable player in the remittance industry, internationally. The company provides a vital link between the Diaspora Somali and other African communities and relatives back home keeping an indispensible lifeline of remittances flowing.

About the Author

- Arraale Mohamoud Jama is a 20 year experience as a professional Journalist and human rights activist Over the years, worked for the major News Papers in Somaliland as a reporter, editor and contributor. 2008 established website Araweelo News Network, he currently runs a web site based in Somaliland. who is the specializes in the investigation and reporting on issues relating to human rights, democracy, and good governance. contact: + 252 63 442 5380 + 252 63 4764409 + 252 63 442 5380

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Human Rights


Pin It