Association of Licensed Forex Bureau (ALFOB) recently held its Annual General
Meeting (AGM) at a ceremony held at Sonko Jileng Enterprise office in
Churchill’s Town. The event also witnessed the election of new executive
Addressing the gathering, Momodou A. Cham, the outgoing President, dwelled on the achievement the association has registered over the past years. He informed the members that the Central Bank of The Gambia (CBG) has introduced a software package that has become mandatory for them, lamenting the fee for the software package as very expensive.
“We received a letter from CBG indicating the deadline for all bureaus to have the software package or else they would face the consequence. The software package is mandatory and if any bureau fails to get the package the bureau will not get a license to operate.”
Louis Sarkis, the newly elected president of AFLOB spoke at length on the significance of the association, while promising to live up to expectations in ensuring that they achieve their fundamental objectives.
He thus called on AFLOB members to do their business with seriousness to enable them achieve their goals and to stabilize the foreign exchange rate in the domestic markets.
Rohey Khan, a representative from Central Bank on behalf of the governor, thanked the outgoing president and his executive members for a job well-done.
She said that the CBG has a unique relationship with the Association, saying ALFOB don’t wait for things to happen but rather they initiate it.
She urged the new executive members to be cooperative with the bank and work as a team. The software package that was introduced by the CBG, she added, was necessary because it would help them oversee what is going round the bureau.