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