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Gambia Competition commission inaugurated

Hon. Abdou Kolley, Secretary of State for Trade, Industry and Employment, on Monday afternoon, presided over the inauguration of Commissioners for the Gambia Competition Commission (GCC), at a ceremony held at Department of State for Trade, Industry and Employment, in Banjul. The GCC Commission members include, Alhaji Tumu Njie, as chairman, Mrs Ida Drammeh, Bukahri Sillah, Katim Touray and Omar Jobe. In his inaugural speech, SoS Kolley thanked the commission members for accepting to serve as...

Welcome Bank PHB

This week marks the entrance of Bank PHB into our currency tables and the Weekly Dalasi Update. MARKET BEAT wishes to welcome PHB and may their entrance be the beginning of good and great things for the bank, the economy and the general banking fraternity in the country. The coming of PHB just adds more voices to the already existing popular economic geometrics that the Gambian Economy is really going places and banking is one of the most lucrative investments presently in the country. With...

The Economy: The Gambian economy in 14 years

The development prospect of any nation is dependent on its economy.  Therefore, one would expect that the conspicuous development transformation The Gambia has undergone since July 22, 1994 can only be credited to a parallel achievement in an economic sector that continues to receive clean bills of health from international financial and monetary institutions around the world. What was a traditionally agriculture-dependent economy has over the years manifested promising tendencies towards...

Re: 15 banks eye Gambia

Editor, I am requesting your usual cooperation to address this issue to His Excellency, Alhaji Dr Yahya AJJ Jammeh. His development activities have been realised and have since yielded dividend, as is manifested in the socio-economic state of the Smiling Coast of West Africa. However, I have an observation, and I would like the Central Bank of The Gambia to take note. The Central Bank of The Gambia should take its stance as it is supposed to be giving us updates and peg acceptable exchange...

Central Bank Takes over Bayba Financial Services

This paper has learn through authoritative official sourcesthat the Central Bank of The Gambia (CBG) has decided to take possession ofBayba Financial Services and Savings and Credit company with effect from April25th2008. In a notice issued to the generalpublic, CBG informed that acting under section 42 of the Financial InstitutionsAct (FIA) has seized the said Financial Services with a view to assumingoverall managerial role over it. The arrangement, our sources went on, is tailored to...

Paving the way for an up-market financial trade

The risk-based supervision exercise to be introduced in the course of the year by the Central Bank of The Gambia (CBG) is a step in the right direction, as it will focus on maintaining a risk-free financial transaction in the economy in the wake of the marked increase in the number of commercial banks operating in the country. The focus of this exercise also strikes on the ultimate goal of encouraging and maintaining a credible and dependable up-market trade of financial assets and instruments...

CBG: Financial institutions risk-based supervision soon

In line with international best practice, the Central Bank of The Gambia (CBG) will introduce risk-based supervision of financial institutions starting on a pilot basis in the coming months of this year. This was disclosed on Monday by the first deputy governor of the Central Bank of The Gambia, Basiru Njie, at the opening ceremony of a week-long regional workshop on "Risk-Based Supervision" held at the Paradise Suites Hotel in Senegambia. The workshop was co-facilitated by the Office of the...