Membership
Member Banks
1 bank · Clear
- Islamic
Arab Gambian Islamic Bank Limited
Arab Gambian Islamic Bank Limited is a licensed bank in The Gambia that provides banking services in accordance with the principles of Islamic finance.
Member profile
Membership
What membership means
Membership commits a bank to working with its peers on the issues that no single institution can resolve alone.
Each member bank remains an independent, competing business, responsible for its own products, pricing and customer relationships. The Association does not direct members' commercial decisions. Its work is confined to matters of common interest: the rules, infrastructure, standards and public understanding on which the whole banking system depends.
Through the Association, member banks consult one another on proposed regulation, agree common positions for engagement with the Central Bank of The Gambia and government, develop shared standards of conduct, and invest jointly in training and financial education. The result is an industry that speaks clearly, acts consistently and is easier for regulators and the public to engage with.
Membership also carries obligations. Members are expected to uphold the Association's constitution and code of conduct, take part in its committees and support the collective work that benefits customers and the economy as a whole.
Eligibility
Who can join
Membership is open to institutions that meet the following requirements.
- Hold a current licence from the Central Bank of The Gambia to carry on banking business in The Gambia.
- Commit to abide by the Association's constitution and code of conduct.
- Pay membership subscriptions as they fall due.
- Nominate representatives to participate actively in the Association's committees and working groups.
Benefits
Benefits of membership
Representation
Members shape the industry position presented to the Central Bank, government and other authorities.
- Consultation on draft laws and regulations
- Participation in formal industry dialogue
Regulatory insight
Members receive timely, coordinated information on regulatory developments and their practical implications.
- Briefings on new requirements
- Shared interpretation of implementation issues
Standards and good practice
Common standards raise the quality of service across the industry and reduce duplicated effort.
- Industry codes and guidance notes
- Peer exchange on operational practice
Training and development
Structured learning helps banks build the skills the sector needs, from frontline service to risk and compliance.
- Workshops and professional programmes
- Specialist sessions on compliance and risk
Industry information
Aggregated, consistent data gives members and the public a clearer picture of the sector.
- Sector statistics and reports
- Research on emerging issues
Public confidence
Joint financial-literacy and consumer-awareness work strengthens trust in the banking system as a whole.
- Financial education campaigns
- Fraud and scam awareness
Banking models
Conventional and Islamic banking
Licensed banks in The Gambia include conventional banks and Islamic banks. Both are regulated by the Central Bank, but they structure deposits, financing and returns differently.
- Feature
- Basis of returns
- Conventional bank
- Interest charged on loans and paid on deposits, at rates agreed in advance.
- Islamic bank
- Interest is prohibited. Returns come from trade, leasing and profit-and-loss-sharing arrangements linked to real economic activity.
- Feature
- Deposits
- Conventional bank
- Current, savings and fixed deposits, with savings and fixed deposits typically earning interest.
- Islamic bank
- Current accounts held on a safekeeping basis; investment accounts that share in profits generated by the bank under agreed ratios.
- Feature
- Financing
- Conventional bank
- Loans, overdrafts and credit facilities repaid with interest.
- Islamic bank
- Asset-based and partnership structures, such as cost-plus sale, leasing and joint ventures, compliant with Islamic principles.
- Feature
- Regulator
- Conventional bank
- Licensed and supervised by the Central Bank of The Gambia.
- Islamic bank
- Licensed and supervised by the Central Bank of The Gambia. Products are also reviewed for compliance with Islamic principles.
- Feature
- Consumer protections
- Conventional bank
- Prudential supervision, disclosure requirements, complaint handling and anti-money-laundering safeguards.
- Islamic bank
- The same prudential, disclosure, complaint-handling and anti-money-laundering safeguards, plus disclosure of how profits are shared.
This comparison is general and explanatory. Product terms vary between banks; customers should read the terms of any account or facility before agreeing to it.
Membership enquiries
Licensed banks interested in joining the Association can contact the Secretariat for the membership requirements and application process.
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