Regulatory Alerts2019-10-07
Guideline for the Licensing of Financial Institutions
The Central Bank of The Gambia mandates that all local and foreign financial institutions obtain a licence under the Banking Act 2009 to operate banking business in the country. The guideline establishes a structured application process requiring a minimum capital of D200 million, verified management character, and detailed corporate documentation before granting an approval in principle. It further outlines the conditions for licence issuance, operational commencement within six months, and grounds for revocation to ensure financial stability and public interest.
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