Regulatory AlertsGuidelines on Management and Technical Services Agreements for Insurance Companies
The Central Bank of The Gambia issued these guidelines to govern management and technical service agreements between parent companies and Gambian insurance subsidiaries. The regulations mandate arm's length transactions, market-competitive pricing for services rendered, capped expatriate staffing, and board-approved senior management appointments. Annual CBG reviews of these agreements ensure corrective action for abusive practices, with non-compliance triggering daily fines and mandatory fund repatriation.
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