Gambia: Exchange bureaus fined $300,000; ordered to issue checks to clients, not cash

bureauEffective last week, businesses that are involved in sending and receiving money outside the country have been ordered to pay D300,000 to the government or risk closure.

Sources from one of the exchange bureaus which has at least three branches, indicated that they used their last savings to pay the government even though they are a small business enterprise. According to sources, many exchange bureaus plan to close because they cannot come up with the amount the government has asked.

In a related development, the regime in The Gambia has also ordered exchange bureaus not to keep cash in their offices. Effective last week, clients who go to such bureaus to receive monies sent by their relatives or friends are issued with checks instead of cash. They have to take such checks to banks in order to cash them.

There have been reports of unusual hassling at various banks as a result of long queues and occasional squabbles between bank customers.




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