Financial Crime World

Banking Regulation Authority Seeks Information on Shareholding Institutions

In a bid to ensure transparency and stability in the banking sector, the Banking Regulation Authority (BRA) has launched an investigation into institutions wishing to acquire more than 10% of the shareholdings of a banking institution.

Investigation Objectives

The authority is seeking information from these institutions to uncover any potential issues that may affect the stability and integrity of the banking sector. The objectives of the investigation include:

  • Identifying the names and addresses of the institution’s directors, bankers, shareholders, and their respective shareholdings
  • Determining if the institution has a significant shareholding in other companies (more than 10%)
  • Investigating whether the institution has failed to meet its obligations with creditors over the last 10 years
  • Identifying any institutions that have had their license revoked by the Central Bank of The Gambia or another banking supervisory authority in the past 10 years
  • Determining if a receiver or administrative receiver has been appointed for these institutions in The Gambia or abroad

Information Required

The BRA is seeking information on the following:

  • Name and address of the institution
  • Names and addresses of bankers for the last 10 years
  • Names of directors and departments headed by them
  • Names of shareholders and their shareholdings
  • Whether the institution has a significant shareholding in other companies (more than 10%)
  • If the institution has failed to meet its obligations with creditors over the last 10 years
  • If any government department or agency, professional association, or regulatory body has carried out an investigation into the affairs of these institutions over the last 10 years

Investigation into Directors and Senior Officers

The authority is also seeking information on:

  • Employment history of proposed directors and senior officers
  • Academic and professional qualifications of proposed directors and senior officers
  • Any disciplinary measures taken against them

Investigation into Shareholders

Shareholders are being asked to provide information on:

  • Employment history
  • Academic and professional qualifications
  • Any significant shareholdings they may have in other companies (more than 10%)

Contact Information

For more information or to submit your response to this inquiry, please contact:

Banking Regulation Authority Email: [bra@gov.gm](mailto:b integration@bankingregulationauthority.gov.gm) Phone: +220 2211111

Please note that all responses will be treated as public documents and may be made available to the general public.