Regulatory Alerts2022-08-01
Added · Updated
Guideline 13 Corporate Governance for Commercial Banks in The Gambia
The Central Bank of The Gambia mandates this guideline to establish a comprehensive corporate governance framework for all licensed conventional and Islamic banks. It requires boards to define clear oversight roles, implement robust risk management and compliance functions, ensure effective internal audit structures, and maintain transparent financial disclosures aligned with international standards. The framework also standardizes board composition and sub-committees, outlines senior management qualifications and duties, introduces specific Shariah governance provisions for Islamic banks, and takes effect on January 31, 2023, with penalties for non-compliance.
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