Somalia’s first ATM machine opens in Mogadishu

A Somali bank installed the country's first Automated Teller Machine in the capital city of Mogadishu, a move seen by many as a "big step forward" for the country, the BBC reported.

"I have been staying in Mogadishu for longer than I originally planned, so I ran out of cash," Omar Hassan told the news agency. "I couldn't believe my luck when I heard about the new cash machine."

The report said the machine was installed by Salaam Somali bank and, although the country's main currency is the shilling, the machine will dispense the popular U.S. dollar.

ATMs have long been ubiquitous in major cities around the world. Time magazine reported that the first teller machine was pitched by inventor John Shepherd-Barron to Barclays bank and the first machine was installed in 1967. The report points out that, like most inventions, Barron's claim is a matter of dispute.

But Barron, who died in 2010 at the age of 84, told The Telegraph that he came up with the idea lying in his bath tub after returning home from a trip to the bank because it was closed.

"I told him I had an idea that if you put your standard Barclays check through a slot in the side of the bank, it will deliver standard amounts of money around the clock. He said, 'Come and see me on Monday morning.'"