By Fatou Sillah
The president of the Association of Licensed Forex Bureaus, Momodou Jallow, has called on the Gambian government and relevant authorities to bolster security measures for forex bureaus across the country. His appeal comes amid rising threats and increasing risks faced by bureau staff and operators.
In an interview with West Coast Radio, Jallow noted that while licensed forex bureaus have engaged in discussions with the Central Bank of The Gambia, broader collaboration with government stakeholders is essential to ensure the safety and confidence of businesses. His comments follow the recent deaths of two female bureau employees, underscoring the urgent need for enhanced protection.
“We have also discussed this with our regulator, the Central Bank. Help us; we are willing. This is the best we can do, but maybe there are things that can be added on top of what we can do together with the stakeholders and the government. Eventually, they should be the people who should make people feel secure doing business in the Gambia,” Jallow said.
He observed that the business environment in The Gambia has changed significantly over time, stressing that the risks faced by bureau operators extend beyond regular customer interactions. “We all acknowledge that the Gambia now and the Gambia then are not the same,” he said. “We are faced with the reality that you cannot just expect whoever comes in to be a customer; now the reality is whoever steps in is a potential person who may harm you. This is the fear that we have to deal with.”
Jallow emphasized that licensed bureaus are taking all possible precautions to protect their staff and operations, but continued government support remains critical. “Eventually, they should be the people who should make people feel secure doing business in the Gambia,” he said.
He also addressed misconceptions about bureau profitability, dismissing claims that forex bureaus earn millions in profits every month.
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