The Central Bank of The Gambia is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

The Gambia The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa. It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publicatio ...

. Its name is abbreviated to CBG. The

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

is located in Banjul and was established in 1971. Buah Saidy is the current Governor.

Operations

As a central bank, CBG is responsible for providing

banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becau ...

services to the Gambian government, for managing interest rates and

foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...

, for interacting with Gambian industries, for supporting microfinance, and for managing the value of the dalasi, which is The Gambia's

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

The bank is responsible for managing the sale of Gambian Government bond, bonds and

treasury bills United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Since 2012, U.S. gov ...

on the international

securities market Security market is a component of the wider financial market where securities can be bought and sold between subjects of the economy, on the basis of demand and supply. Security markets encompasses stock markets, bond markets and derivatives mar ...

. The bank is involved in economic research in regard to the future of Gambia and

West Africa West Africa or Western Africa is the westernmost region of Africa. The United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, M ...

. The CBG is working with GIPFZA, the

Gambia Investment Promotion and Free Zones Agency The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa. It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publicatio ...

, in the creation of a 1.6 square kilometre business and industrial park near Banjul International Airport. The CBG is the only institution in The Gambia that is permitted to issue the

Gambian dalasi The dalasi is the currency of the Gambia that was adopted in 1971. It is subdivided into 100 bututs. It replaced the Gambian pound at a rate of 1 pound = 5 dalasis, i.e. 1 dalasi = 0.2 pound = 4 shillings. The derivative of ''dala'' is unknow ...

Governors of the Central Bank of The Gambia

* Horace Reginald Monday, Mar 1971 - Nov 1972 *

Sheriff Saikuba Sisay A sheriff is a government official, with varying duties, existing in some countries with historical ties to England where the office originated. There is an analogous, although independently developed, office in Iceland that is commonly transla ...

, Dec 1972 - Apr 1982 *

Thomas Gregory George Senghore Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (disambiguation) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the ...

, May 1982 - Feb 1988 * Mamour Malick Jagne, ? - 1991 - ? * Abdou A. B. Njie ? - 1994 *

Momodou Clarke Bajo Momodou is a Gambian given name that may refer to: * Momodou Alieu Bah, Gambian senior army officer * Momodou Baboucar Njie (1929–2009), Gambian politician *Momodou Ceesay (born 1988), Gambian football striker *Momodou Ceesay (artist) (born 1945 ...

, 1994 - 2003 *

Famara Jatta Famara L. Jatta (July 16, 1958 – March 17, 2012) was a Gambian government minister and economist. He was the Gambia's Secretary of State for Trade from 1997 to 1998, and Secretary of State for Finance and Economic Affairs from 1998 to 2003 ...

, 2003 - 2007 *

Momodou Bamba Saho Momodou is a Gambian given name that may refer to: * Momodou Alieu Bah, Gambian senior army officer * Momodou Baboucar Njie (1929–2009), Gambian politician *Momodou Ceesay (born 1988), Gambian football striker *Momodou Ceesay (artist) (born 1945 ...

, 2007 - 2010 *

Amadou Colley Amadou is a spongy material derived from ''Fomes fomentarius'' and similar fungi that grow on the bark of coniferous and angiosperm trees, and have the appearance of a horse's hoof (thus the name "hoof fungus"). It is also known as the "tinder f ...

, 2010 - 2017 *

Bakary Jammeh Bakary is a given name. Notable people with the name include: * Abubakar Khamis Bakary, Member of Parliament in the National Assembly of Tanzania * Bakary Diakité (born 1980), Malian footballer of part German descent currently playing for FSV Fran ...

, 2017 - 2020 * Buah Saidy - since 1 October 2020

References

External links

Central Bank of The Gambia official siteGIPFZAWest African Monetary InstituteCBG's Banjul business park PDF dated October 2006
Gambia Banks of the Gambia Banjul Gambian companies established in 1971 Banks established in 1971 {{Gambia-stub

Operations

Governors of the Central Bank of The Gambia

See also

References

External links