Central Bank of The Gambia
Encyclopedia
The Central Bank of The Gambia is the central bank
of Gambia. Its name is abbreviated to CBG. The bank
is located in Banjul
.
, for interacting with Gambian industries, for supporting microfinance
, and for managing the value of the dalasi, which is Gambia's currency
. http://www.cbg.gm/about-cbg/organs.html The bank is responsible for managing the sale of Gambian bonds
and treasury bills on the international securities market
. The bank is involved in economic research in regards to the future of Gambia and West Africa
.
The CBG is working with GIPFZA, the Gambia Investment Promotion and Free Zones Agency, in the creation of a 1.6 square kilometre business and industrial park
near Banjul International Airport
.
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of Gambia. Its name is abbreviated to CBG. The bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
is located in Banjul
Banjul
-Transport:Ferries sail from Banjul to Barra. The city is served by the Banjul International Airport. Banjul is on the Trans–West African Coastal Highway connecting it to Dakar and Bissau, and will eventually provide a paved highway link to 11 other nations of ECOWAS.Banjul International Airport...
.
Operations
As a central bank, CBG is responsible for providing banking services to the Gambian government, for managing interest rates and foreign exchangeForeign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
, for interacting with Gambian industries, for supporting microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
, and for managing the value of the dalasi, which is Gambia's currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
. http://www.cbg.gm/about-cbg/organs.html The bank is responsible for managing the sale of Gambian bonds
Government bond
A government bond is a bond issued by a national government denominated in the country's own currency. Bonds are debt investments whereby an investor loans a certain amount of money, for a certain amount of time, with a certain interest rate, to a company or country...
and treasury bills on the international securities market
Securities market
Securities market is an economic institute within which take place sale and purchase transactions of securities between subjects of economy on the base of demand and supply....
. The bank is involved in economic research in regards to the future of Gambia and West Africa
West Africa
West Africa or Western Africa is the westernmost region of the African continent. Geopolitically, the UN definition of Western Africa includes the following 16 countries and an area of approximately 5 million square km:-Flags of West Africa:...
.
The CBG is working with GIPFZA, the Gambia Investment Promotion and Free Zones Agency, in the creation of a 1.6 square kilometre business and industrial park
Business park
A business park or office park is an area of land in which many office buildings are grouped together. All of the work that goes on is commercial, not industrial or residential....
near Banjul International Airport
Banjul International Airport
Banjul International Airport also known as Yundum International is the international airport of Banjul, capital of The Gambia.In 2004, the airport served 967,719 passengers....
.
See also
- Central banks and currencies of AfricaCentral banks and currencies of AfricaThere are two African currency unions associated with multinational central banks; the West African Banque Centrale des Etats de l'Afrique de l'Ouest and the Central African Banque des Etats de l'Afrique Centrale...
- Economy of Gambia
- List of central banks