Binta Janneh was speaking at the recent 5th Annual Gambia Bankers Association Award Night held over the weekend.
She outlined the need to review ‘our approaches to development, financial intermediation and the legal and regulatory frame works that underpin the operating environment.'
“The diversity of members of the GBA gives us the strength and capabilities together. We are ready for this challenge and will continue the discussion”.
Janneh stated that the banks through the Association is looking up to a more robust and constructive engagement and committed to participate in the national development aspiration of our country The Gambia.
The Association, she added, is being repositioned and reformed to effectively carry out its mandate, adding that they are pleased to announce the proposed launch of a project intended to construct a new, modern, and eco-friendly head office to house the GBA secretariat as well as a training Centre for the planned chartered institute of Bankers.
She spoke highly of the desired goals, among which, is to mobilize GMD20 Million to achieve this project.
“We have no doubt about this ambitions and we want the project to kick-start this and to be completed in 2023. We therefore, seek the support of government, with the recommendation of CBG, for an allocation of land, with equal financial contribution of member banks towards the proposed project.
Starting out some 20 years ago with only five commercial banks, she revealed that within a relatively short period of time, the number of banks has leaped to 12.
“The Managing Directors at the time, thought it necessary to be meeting over lunch periodically to share ideas on the state of the economy and other areas of common interest. The evolving changes in the industry, deepened financial intermediation and the relationship between the customers and the banks changed in character as competition grew intensely”.
The banking sector, she added, is poised to ensure innovative participation in the economic development trajectory of the country spear-headed by the government of The Gambia as envisaged in the National Development Plan NDP.
She observed that private-public participation especially in the financial industry cannot be overestimated both in terms of absolute and total financial inclusiveness and resources mobilization for real sector development financing.
In her vote of thanks, Alex Alasan Gomez, chairman of the organising committee for the 5th Annual Bankers Award Night, said peace, safety and security is fundamental in the successes of any business and even non-business enterprises, saying individuals heavily relied on those for success in whatever one does.
“It is against this background that I want to recognize and thank the government of the Gambia through the minister of finance and economic Affairs for providing the enabling environment for the operation of this business we are in and be able to celebrate achievements and recognize people for their splendid performance in their respective duties they have been assigned.”
