Gambia News : 3 new banks to start operations this year

Jun 17,2008 00:00 by lamin

The Gambia will this year see the commencement of three new banks from the sister Republic of Nigeria. They are Zenith , Oceanic and Sky banks, all being leading banks in Nigeria with substantial equity that will add value to the financial market and economic status of The Gambia.
The banks have already been issued licenses by the Central Bank of The Gambia to commence operations this year, a CBG sourced report disclosed. The report was presented by two consultants, Alhaji T.S, Alieu A. Njie, Mr Abdou Njie ( a former Governor of the CBG), at the just concluded three-day 2008 Expo on Banking and Finance organised by the Gambia Chamber of Commerce and Industry at the Paradise Suites Hotel.
Presently there are in operation ten commercial banks in The Gambia, and with the coming of three banks on stream, the banking and finance industry will all but further strengthen the comparative advantage the country has developed in the financial market in the sub region.