Financial Services

Djibouti’s economic growth, based to a large degree on capital investment in infrastructure development and logistics, has been underscoring the expansion of its banking system. Since liberalisation of the sector in 2006, a number of new financial institutions have set up shop in the country, hoping to take advantage of its growing role as a regional transport and financial hub. With a population of approximately 900,000 inhabitants as of mid-2018, the country’s domestic financial services market remains small. However, the low level of banking penetration can also be seen as an opportunity for growth, both in terms of new customer acquisition and product sophistication. This chapter contains interviews with Ahmed Osman Ali, Governor, Central Bank of Djibouti; and with Nadhir Zouaghi, President, Professional Association of Credit Institutions.