Central Bank Reassures Standard Chartered Clients After Bank Says Ending Operations in the Gambia

Buwah Saidy, Governor Central Bank of The Gambia

Following the announcement by Standard Chartered Bank (SCB) that it will bring to an end its 128 years of operations in the Gambia, the Central Bank of the Gambia has issued a statement reassuring SCB customers that SCB was “well-managed, highly liquid, and well-capitalized bank, will continue its normal operations in full compliance with the Central Bank of The Gambia’s regulatory requirements.”

“The Central Bank of The Gambia hereby assures its customers and the public that Standard Chartered Bank is a well-managed, highly liquid, and well-capitalized bank, which will continue its normal operations in full compliance with the Central Bank of The Gambia’s regulatory requirements.”

According to the CBG, “Standard Chartered Bank is one of the largest banks in this country with a long history going back more than a hundred years, during which the bank contributed enormously to the socio-economic development of The Gambia, and will continue to do so in years to come.”

In a statement made available to TAT, the bankers’ bank added: “The Central Bank of The Gambia received correspondence from Standard Chartered Bank Gambia Ltd, conveying Standard Chartered Bank Group’s decision to divest their business interest in The Gambia.

“This is in line with the Group’s new business model and strategic repositioning, which requires divestiture from several African countries, including The Gambia and a few countries in the Middle East.

“The Group is in negotiation with potential investors to buy its shares in Standard Chartered Bank Gambia Ltd.

“The divestiture will not impact the operations of Standard Chartered Bank Gambia Ltd, as the bank will continue to operate normally.

“The bank’s customers and the public are hereby urged to be mindful of messages going around on the social media regarding the divestiture process, details of which are hereby clarified, informing customers and the general public that Standard Chartered Bank Gambia Ltd will continue to operate normally.”

Previous articleAccident Claims Three Lives in Tallinding Buffer Zone 
Next articleThe rise of mercenary armies in Africa
Sainey M.K. Marenah
Mr. Sainey M.K. Marenah is a Prominent Gambian journalist, founding editor The Alkamba Times and formerly head of communications at the Constitutional Review Commission (CRC) and Communications and PR Consultant for The Gambia Pilot Program, under Gamworks. Mr. Marenah served as the Social media Strategist and Editor at Gambia Radio and Television Services. He is also the Banjul Correspondent for Voice of America Radio. Sainey is a human rights and developmental journalist who has carved a strong niche particularly in new media environments in the Gambian media industry. Mr. Marenah began his career as a junior reporter with the Point Newspaper in the Gambia in 2008 and rose through the ranks to become Chief correspondent before moving to The Standard Newspaper also in Banjul as Editorial Assistant and head of News. He is a household name in the Gambia’s media industry having covered some of the most important stories in the former and current government. These include the high profile treason cases including the Trial of Former military chiefs in Banjul in 2009 to 2012. Following his arrest and imprisonment by the former regime of President, Yahya Jammeh in 2014, Marenah moved to Dakar Senegal where he continues to practice Journalism freelancing for various local and international Media organization’s including the BBC, Al-Jazeera, VOA, and ZDF TV in Germany among others. He is the co-Founder of the Banjul Based Media Center for Research and Development; an institution specialized in research and development undertakings. As a journalist and Communication Expert, focused on supporting the Gambia's transitional process, Mr Marenah continues to play a pivotal role in shaping a viable media and communications platform that engages necessary tools and action to increase civic participation and awareness of the needs of transitional governance to strengthen the current move towards democratization. Mr. Marenah has traveled extensively as a professional journalist in both Europe, Africa and United States and attended several local and international media trainings.


Please enter your comment!
Please enter your name here