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AMRC Tells Parliament Over D6m Of Former Keystones Bank Debts Recovered

Ansuman Sanneh
Director General,
Assets Management and Recovery Corporation

By Ramatoulie Jawo

Ansuman Sanneh, Director General, Assets Management and Recovery Corporation (AMRC) said his institution has recovered over D6m of the debts of the former Keystones Bank.

He said the debts amounted to D665, 840, 802.60 with an initial commission of 5% from 2017 to March 2019, but later increased to 15% from April 2019 to date.

From 2017 to 2020, Sanneh said the corporation has recovered a sum amounting to about Four-six million, four hundred and sixty-five thousand, two hundred and twenty-five dalasi, ninety-seven bututs (D46, 465, 225. 97).

Sanneh said from the mentioned sum, Forty-four million, three hundred and two thousand, three hundred and fifty-seven dalasi, ninety bututs (D44, 302, 357. 90) had already been transferred to the AMRC Kamco Account. 

“As an institution, our vision statement is to transform the corporation into a premier institution in debt recovery and prosperity management that provides skill and competent professional and profitable service for debt recovery for the government,” he said.

DG Sanneh said that the corporation in July 2017, signed a Memorandum of Understanding (MoU) with the Central Bank of the Gambia through the Ministry of Finance to recover the debts of the former Keystones Bank.

The AMRC DG made the remarks on Monday while presenting the activity report and financial statements of the corporation for the year ended 31 December 2020, before the standing committee of the Public Enterprises Committee (PEC).

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