Arab Gambian Islamic Bank

Arab Gambian Islamic Bank ("AGIB") is a Gambian bank incorporated under the Companies Act 1955. The bank has been licensed by the Central Bank of Gambia to operate on the basis of Islamic principles under the Financial Institutions Act 1992 and as amended in 1993. The amendment was enacted by the parliament to enable the operations of Islamic banks in Gambia. AGIB commenced operations in January 1997 to carry on banking business in accordance with Islamic Sharia with a view to contributing to the socio-economic development of Gambia. Apart from accepting deposits from customers and providing Islamic banking products and services, AGIB grants financing facilities for short, medium and long-term economically and financially viable undertakings. The bank is, thus, mandated to carry on both commercial and development banking activities across its seven branches, and at the same time trades in commodities.