Governor of the Central Bank of The Gambia, Bambo Saho, said even though the country’s domestic financial system was sound and vibrant, t here was still room for improvement in the financial system of the bank, noting t hat this was always critical to its functions.
Saho made the remarks at the inauguration of a new bank, Prime Bank (Gambia LTD) , here on Wednesday.
He told officials of Prime Bank that in order to carry out their roles efficient ly, they must try to gain public confidence, maintaining that the mandate of the
Central Bank of the Gambia was to implement banking policies through the central
He called on customers to try to live up to standards by respecting details of b anking contracts.
Chairman and general manager of the Lebanese Canadian Bank, Georges E Zard Abdou Jaoude, said the presence of Prime Bank in the Gambia had not come by coinciden c e, rather it was a result of the confidence they had in the economic future of t h e country.
According to Jaoude, the Lebanese Canadian Bank is among the top 10 Lebanese ban ks, whose performance has surpassed its peers in the past years.
He said the launching of the Prime Bank was born out of the firm decision that t hey took to inaugurate the bank in the country within a year, after several visi t s to the Gambia last year.
He noted that the Lebanese-Canadian Bank operated from 1968 through 1988 as a su bsidiary of the Royal Bank of Canada Middle East.