To provide fast, efficient and cost-effective financial services to both urban and rural communities and to the private sector in Somalia in particular and the Horn of Africa as a whole; to promote peace and human rights, and to contribute to socio-economic development in Somalia.

1 - AMAL remittance services developing into sound formal banking in Somalia with worldwide branches, and effectively part-taking in reconstruction and development in the Somali nation and in the Horn of Africa at large.

2 - AMAL as a leading, reliable and reputable financial institution within the East and Central Africa as well as globally, and remaining a market leader through continuous innovation, customer focus, quality services and satisfied workforce.

a - To provide efficient, speedy and cost-effective money transfer services.

b - To serve all its clients equitably and to the best of its ability - both as money remitters and receivers - with particular humanitarian service considerations for those in remote rural areas and vulnerable members of the community like the poor, disabled, women, internally displaced persons (IDPs) and refugees.

c - To actively participate in national and sub-regional peace-building and development through the provision of sound financial services and other necessary contributions.

d - To commit itself to the goals of The Somali Money Transmitters Association (SOMTA) and support all efforts:

            · To promote and adherence to sound financial practices.

            · To safeguard the integrity of the industry in Somalia and abroad.

            ·To self-regulate in the absence of central authority and central bank institutions inside Somalia through the
             establishment of standards and guidelines for good working practices.

            · To liaise with regulators, government and other agencies to increase their awareness and understanding of the                             industry and to assist in the development of appropriate regulation for the industry.

            · To work towards conflict resolution, disarmament and prevent the funding of warring factions, drug smugglers,                             terrorist operatives, and dangerous persons or institutions in violation of international law.

            · To adopt the FATF 40 Recommendations on money laundering and the FATF 8 Special Recommendations against                terrorist financing and

            · To effect strict compliance with anti-terrorist financing and money laundering directives and regulations.

The AMAL GROUP OF COMPANIES is the largest Somali public company in the Somali Xawala (Remittance) business with worldwide network of associate companies and agencies. AMAL EXPRESS, which gave birth to the rest of the Amal Group of Companies, was formed in 1997 from the amalgamation of 13 individual Xawala firms. In merging their capital and human resources, the founders of AMAL succeeded in establishing solid financial and management base nationally and internationally, putting AMAL in the lead in the Xawala business.

The AMAL GROUP is headquartered in Dubai, UAE. Its increasingly diversified current business activities include Money Transfer, the mainstay of its businesses, Informal Banking in Somalia, Forex Bureaus, and Real Estate. The AMAL Group consists of the holding company, AGC, and many wholly owned companies and subsidiaries, including AMAL Express General Trading in Dubai (HQ), AMAL Express SARL in Djibouti, AMAL Money Wire and AMAL USA Inc. services in various centers in the USA, and other companies in Canada, Australia, New Zealand, UK as well as AMAL Plaza in Nairobi, AMAL Express Forex Bureaus in Nairobi and Mombassa, AMAL Express in Ethiopia which has contract with Wagagen Bank. And AMAL Bank in all major centers in the Somali Republic. There are also many AMAL affiliates and agencies worldwide. The following is a summary of AGC outreach and contributions:

1 - About 300 overseas outlets in North America, Europe, Australia/New Zealand, Arabia and Near East Asia;

2 - Over 350 AMAL branches in Somalia covering all major regional and districts and village centers;

3 - Provides gainful services and employment for over 1000 persons worldwide;

4 - AMAL remains to be lifeline for millions of Somalis in Somalia and in refugee camps, all of who are dependent on their relatives in the Diaspora for their livelihood; and

5 - AMAL remains the motor and the principal medium for financial transactions for the vibrant Somali private sector in their national and international business activities.

AMAL, one of several Somali remittance companies operating nationally and internationally provides efficient and speedy services to members of the Somali Diaspora scattered around the world to send remittances to their families and relatives in Somalia and in the sub-region as refugees. AMAL also serves the private sector for the purpose of moving funds for trade and investment activities to and from Somalia. The main target beneficiaries, however, include poor families, vulnerable groups, internally displaced persons (IDPs), refugees in the sub-region and drought affected communities, and majority of these beneficiaries are usually found in remote areas and without permanent address. Through efficient network of its world and countrywide branches and agencies, using satellite, VHF and traditional who-knows-who communications, AMAL speedily and competently serves these and other Somalis throughout the country and overseas.

All companies, branches and agencies of the AMAL GROUP are legally registered and/or licensed and have extensive operations in most countries they operate in, including the USA, Canada, Europe, Australia and New Zealand. In its continuous regularization and expansion, applications for new business licenses are in process in the remaining selected States or countries where licenses and/or registration is now required.

In the absence of a national government and formal financial institutions, AMAL, one of the leading Hawala companies in Somalia, contributes to fill the void of financial institutions and services in the country. It serves individuals and the community at large, delivering remittance to needy families and traders. It heavily invests in the country and gives direct and indirect employment to thousands of Somalis inside the country and abroad.

Trust, transparency and accountability are the fundamental tenets of the Hawala industry, which widely practices the traditional "my word is my bond" contract in much of its transactions with Somali clients. As a highly decentralized company with hundreds of shareholders in its various individual services, companies, branches and agents in the country and abroad, AMAL's strength has always been in its transparency and accountability with all its shareholders, partners, clients and regulatory authorities. With ongoing reorganization and regularization activities, including registration, computerization, management and financial audit and training of all AMAL staff, the GROUP aims to meet with all the sound business practices and regulatory requirements in all countries it operates.

Among ongoing and planned activities to comply with AML and TAFT requirements, AMAL started to put in place Customer Due Diligence (KYC) procedures in its operations to identify clients, monitor transactions, and report on any suspicious activity? maintain records and train employees.

AMAL is continuing to grow and it partners and investors are rapidly growing with it in Somalia in particular and Africa as a whole. The absence of national government and regulatory institutions does not mean lack of business opportunities. Indeed, the more the risk, the higher the potential for good profits. AMAL, with the support of its partners, will contribute to normalization of the Somali situation and the establishment of peace, reconciliation, justice and development.

AMAL in the process of modernizing and streamlining its management through the utilization of high-tech and know-how with the view of providing excellent services to its clients and adequate return for its investors.

While it is engaged in restructuring and consolidation of its management and operational activities, AMAL is also working on short, medium and long-term investment plans in the country and overseas. In Addition to formal banking, it is conducting the necessary studies for further investment on the following sectors:

1 - The micro-finance, Building Societies, Insurance and other financial institutions.

2 - The industrialization of locally based resources like the abundant livestock and marine products in Somalia.

3 - The construction industry and Real Estate business.

4 - Investment in economic infrastructures and social services like education, health, water and community development programs and Agriculture and echo tourism development.

In all these activities, AMAL's guiding principle is accountability and transparency with its clients, partners and investors and warmly welcomes their comments, criticism, suggestions and ideas for improvements and investments.