Page 4 - Agib Bank Limited Annual Report 2021

Financial Statements and Annual
Report
The Bank Profile

Agib Bank Limited (AGIB) was incorporated as a New Jeshwang, Kairaba Avenue, Bakoteh,
private limited liability company on the 11th Tranquil, Brikama and Basse, while the agencies
November 1994 and granted a banking license are located at Numuyel, Garawol and Farafenni.
by The Central Bank of the Gambia in The Bank has 8 ATMS in our branches in Banjul,
September 1996. The bank became fully New Jeshwang, Brikama, Basse, Bakoteh,
operational in January, 1997. It is worth Basse and at 2 offsite locations at Qcell Head
mentioning here that the Financial Institution Act Office on Kairaba Avenue and Brusubi
1992 was amended to provide for the Roundabout.
establishment of an Islamic Bank in The
Gambia. Agib Bank Limited operates on the Islamic
Economic Principles of Risk/Reward also known
Agib Bank Limited is the first and only Islamic as Profit and Loss Sharing.
bank in the Gambia and it is legally allowed to
own equity in other companies and also trade in Unique Characteristics:
commodities and Real Estate.
Only Islamic bank in a 90% Muslim
In September, 2008 AGIB consummated a dominated country
strategic alliance with First Inland Bank Offers only Sharia Compliant products
(FINBANK) of Nigeria. In May 2014 FINBANK Only bank allowed to own and develop
shares were sold to a Gambian businessman real estate
making him the majority shareholder. The Assist disadvantaged people in the
Islamic Development Bank in Jeddah also hold Community
significant shares. The currently has 137 Legally allowed to own equity in other
employees and has 7 branches and 3 Agencies. companies
The branches are strategically located in Banjul,

Agib Bank Annual Report 2021 www.agib.gm 4 Annual Report and IFRS Financial Statements