West Africa: WABA Hosts Landmark Normal Meeting Assembly in Gambia

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The West African Bankers Affiliation (WABA) has hosted its 77th Govt Council Assembly and forty first Normal Meeting to debate points pertaining to the financial system within the sub-region.

The august assembly, held on Thursday 6 July 2023 on the Worldwide Convention Centre in Bijilo, underneath the purview of the Gambia Bankers Affiliation, introduced collectively stakeholders within the banking sector, Authorities officers and members of different monetary establishments in The Gambia and the sub-region.

WABA was established on 10 August 1981 primarily based on the suggestions and underneath the auspices of the Committee of Governors of Central Banks of ECOWAS as a regional affiliation together with all major banks, improvement banks, credit score establishments and banking skilled our bodies present in West Africa.

The Affiliation was established to offer assist and promote the West African Clearing Home.

Talking on the ceremony, the Govt Secretary of the Gambia Bankers’ Affiliation, Alhagie Jeng, said that the financial system of The Gambia had registered some development motion, notably the monetary sector, which had witnessed a pointy improve within the variety of banks, microfinance establishments and overseas alternate bureaux.

These developments, he mentioned, happened as a result of the liberal financial insurance policies of the Gambia authorities have been underpinned by a beneficial, authorized and institutional framework.

“On this regard, the Authorities of The Gambia and specifically the Central Financial institution of The Gambia deserves particular commendation,” he said.

Mr Jeng mentioned additional that the Institute of Bankers of The Gambia serves as a Native Centre for the conduct of Chartered Institute of Bankers of Nigeria (CIBN) examinations in The Gambia.

“It supplies appropriate and safe surroundings for the administration of CIBN examination in The Gambia,” he added.

The President of the West African Bankers Affiliation, Dr Man Laurent FONDJO, mentioned the establishing of the ECOWAS Fee and Settlement System (EPSS) is a crucial merchandise underneath ECOWAS.

He added that the Foreign money Roadmap and industrial banks are essential stakeholders in fee and settlement system implementation.

“This underscores the continued collaboration amongst regional sister establishments in direction of reaching a typical goal,” he mentioned. “Moreover, WABA can also be working actively to construct the capability of the ECOWAS Banking and the general Monetary System, which is at the moment present process fast change and is thus dedicated to the creation of a Regional Coaching Heart in Banking, Finance and Microfinance to be positioned in Abuja, Nigeria.”