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Magistrate Mboto resigns

Reports reaching the Daily Observer indicated that Senior Magistrate Mboto of the Banjul Magistrates Court has tendered her resignation as a magistrate. Accordng to our sources, the magistrate’s resignation took effect since July 3. Officials at the Banjul Magistrates Court confirmed the sory, although they could not corroborate on the reason for the decision. However, extra judicial information indicated that the magistrate had secured a new job at one of the commercial banks in the...

SoS Balla Gaye clarifies

Mousa Gibril Balla Gaye, secretary of state for Finance and Economic Affairs, has explained the improper, inconceivable and unimaginable greedy behaviours the commercial banks displayed and conducted foreign currency transactions during the recent months of the dalasis’s appreciation which he earlier described, during the budget speech as unprofessional, unethical and unwarranted. Clarifying his statements before members of the National Assembly after been questioned by Honourable Sedia Jatta,...

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...