Regulatory Alerts2022-08-01
Added · Updated
Guideline for the Regulation and Supervision of Islamic Financial Institutions in The Gambia
The Central Bank of The Gambia issues comprehensive regulatory guidelines to govern the establishment, licensing, and ongoing supervision of Islamic Financial Institutions, including full-fledged banks, subsidiaries, windows, microfinance entities, and takaful operators. The framework mandates strict Shari'ah compliance through dedicated advisory boards, mandatory biennial audits, and prohibitions on interest-based, speculative, and non-halal transactions. It establishes prudential standards for capital adequacy, liquidity management, single exposure limits, and risk governance while aligning domestic operations with international AAOIFI and IFSB benchmarks.
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