Regulatory Alerts2018-01-01
Added · Updated
Central Bank of The Gambia Act, 2018
The Central Bank of The Gambia Act, 2018 establishes the Central Bank as a body corporate with perpetual succession and defines its primary objects, including maintaining domestic price stability and currency stability. The Act outlines the Bank's functions, such as formulating monetary policy, regulating the financial system, and acting as the banker to the Government. It establishes a Board of Directors comprising a Governor and four other directors appointed by the President, detailing their terms, removal processes, and the establishment of Audit and Financial Stability Committees. The legislation further specifies the appointment, tenure, and duties of the Governor and Deputy Governors, along with provisions for the Bank's administration, capital, and operations.
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