“The Central Bank wishes to inform the general public that the banking sector is well capitalized and adequately profitable.
“The Bank assures the general public and bank customers in particular that their funds are safe.
“The banking sector remains safe, sound and stable. There is no cause for alarm. Customers are urged to continue their normal banking transactions as usual,” a press statement by the Bank asserted yesterday.
The Bank issued the statement in the wake of a white paper by Cabinet on the report of the Commission of Inquiry into the financial activities of the former President Yahya Jammeh and his close associates, which was released on Friday, 13th September. The findings and recommendations of the Commission are contained in a nine (9) Volume report.
Volume 9 of the report which “mandates the Central Bank of The Gambia to implement recommendations relating to the banking sector,” is what is of concern to the Central Bank which prompted it to issue the statement.
The Bank asserted that “The implementation of the said recommendations would not adversely affect the strong financial position of the banks.”