Somalia's first cash machine opens in Mogadishu

Somalia's first-ever cash withdrawal machine has been installed in the capital, Mogadishu.

The machine, installed by Salaam Somali Bank in an upmarket hotel, allows customers to withdraw US dollars. 

Somalia has a rudimentary banking sector, with many people relying on remittances from abroad.

Its development has been thwarted by more than two decades of conflict involving clan and religious-based militia groups.

Somali's currency, the shilling, is almost worthless and many businessmen and foreigners deal in dollars. 

Mogadishu has been hit by instability for more than two decades and the Somali shilling is almost worthless

The machine allows people to withdraw money from their international bank accounts, using cards like Visa, MasterCard and American Express, our correspondent says.

A spokesman for Salaam Somali Bank, Said Abukar, said people can only withdraw US dollars.
via BBC NEWS