Gambiaj.com – (BANJUL, The Gambia) – The Central Bank of The Gambia has directed all commercial banks to begin replacing non-Gambian employees with suitably qualified Gambian nationals, with the transition required to be completed by December 31, 2026.
The directive, issued on September 16 by CBG Second Deputy Governor Dr. Paul T. Mendy, follows a meeting with managing directors of banks on August 27.
According to the Central Bank, a recent industry study found that a relatively high number of non-Gambians are employed in the banking sector beyond staff formally recognized as expatriates.
The bank said the employment of some of these workers is in violation of provisions of the Labour Act 2023 and is also inconsistent with Guideline 9 on expatriate staff.
As a result, banks have been instructed to adopt a phased approach to replacing existing non-Gambian staff with qualified Gambian nationals.
The Central Bank said the process must include appropriate arrangements for skills transfer and ensure continuity of banking operations during the transition.
“All banks are required to adopt a phased approach to replacing existing non-Gambian staff with suitably qualified Gambian nationals,” the directive stated.
The CBG has given banks just over three months to complete the process, directing them to ensure full compliance with the Labour Act and strict adherence to its guidelines.
The directive is addressed to managing directors of all banks operating in The Gambia and was copied to the Governor of the Central Bank.
The move places the banking industry under a firm deadline to increase the participation of Gambian professionals in the sector while ensuring that the transition does not disrupt banking services.
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