#National News

APS boss vows to improve economy of low-income earners

Dec 8, 2021, 12:56 PM | Article By: Sulayman Waan

Managing director of Approved Services (APS) has spoken highly of his institution’s vision, which he said, is to nurture the economic wellbeing of middle- and low-income earners through sustainable, equitable and transparent financial service solution driven by resourceful personnel using digital means that promote financial inclusion and alleviate social injustice and poverty. 


Momodou Joof was speaking recently during the launch of APS Islamic micro finance held at its main office in Bijilo. 

He indicated that APS Islamic Microfinance aspires to be the best in providing financial solutions for improved livelihoods for all. 

The traditional model of conventional microfinance, he added,  has not really dealt with the endemic nature of financial exclusion and purported use of access to microfinance as a means of addressing poverty and social injustice has proven to work effectively so far.

“Up to this day, financial inclusions in The Gambia still stands at 20% or thereabout despite the high number of commercial banks. That is why the introduction of APS Islamic Microfinance with fully shariah compliant products and services gives the public an undeniable opportunity to deviate from indulging in usury base finances and risk the wrath our creator.” he said.

With the launch of APS Islamic Microfinance, MD Joof said there is no excuse that the country is in short supply of fully shariah compliant financial services.

“APS is ready and determined to collaborate with likeminded development partners locally and internationally in promoting financial inclusion, poverty alleviation and economic development.”  

According to him, the APS Islamic Micro Finance services; business process, procedures, corporate culture and all other activities would always be Islamic law (Shariah) complaint. 


“We just do it in Islamic legal perspective. That comes first before the business underlining.”  

The Islamic financial institution, he added, has a board that provides oversight on the business model and added it has a shariah board that regulates the institution’s total compliance to Islamic law principles in all APS services.

“We also have a shariah department that works directly with ambit of our day-to-day operation to proactively detect and fuse any chance of non-compliance from general business activities.” he said.

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