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Central Bank lifts suspension on Ria money transfer services

Oct 25, 2013, 9:29 AM

The Central Bank of The Gambia has lifted the suspension on Ria money transfers services in the Gambian foreign exchange market effective Wednesday 23rd October, a statement issued by the bank announced Thursday.

The move comes four months after the central bank suspended money transfer services from three major money transfer operators namely, Ria, Money Express and Wari from operating in the country’s foreign exchange market.

In its statement, the central bank did not say anything about the fate of Money Express and Wari transfer services, but said ‘‘all the commercial banks, finance companies, as well as licensed foreign exchange bureaux may now conduct money transfer operations or establish a business relationship with RIA Financial Services.’’