Data Protection and Privacy in Finance: Gambia Takes a Step Forward
The Government of The Gambia has announced plans to establish an institutional and legal framework for data protection and privacy, aiming to strengthen its commitment to protecting personal data and associated rights of individuals.
Objectives of the Policy
- Inform the development of data protection and privacy law, designed to safeguard personal data and the rights to data protection and privacy of individuals
- Establish appropriate institutional frameworks to ensure the effective implementation and oversight of national data protection and privacy law
- Establish internationally recognized best practices in data protection and privacy law, ensuring alignment with global standards
- Provide additional protection for special categories of personal data, such as children’s information, to prevent adverse effects on individuals
Safeguards and Oversight
- Establish extra safeguards for the processing of personal data about children, in line with Article 10 of the African Charter on the Rights and Welfare of the Child (1990) and possibly for other vulnerable groups of individuals
- Propose the establishment of a requirement for an independent and impartial National Supervisory Authority, empowered to oversee, monitor, and enforce compliance with data protection and privacy laws
Impact and Significance
The move is seen as a significant step forward in protecting individual rights and promoting transparency in the financial sector. Industry stakeholders and observers are watching closely to see how the policy unfolds and what impact it will have on data protection and privacy practices in The Gambia’s finance sector.
Conclusion
The Government of The Gambia’s initiative demonstrates its commitment to protecting personal data and associated rights, aligning with global standards and best practices. As the policy is implemented, it is expected to have a positive impact on data protection and privacy practices in the financial sector, ultimately promoting transparency and individual rights.