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Santanfara
3460 Posts |
 Posted - 11 Aug 2009 : 16:52:54
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The Nigerian banks in the Gambia belongs to strong parent banks in Nigeria. The Gambian central banks has strong supervision system that make sure this banks operate according to the rules (basel 11 accord).
There is no fear for the banks long term operation, they all have to deposit regularly with central as proof of their liguidity and solvency. Operating condition is having 16million dalasis cash.
The banks according to central bank sources has improve competition and elimanate monopoly by the few banks. The gambia attracts a lot of re-export business for many African businesses. so the banks compete to serve those companies. our civils servants are also now having lots of choice in terms of low overdraft and loan rates.
employement is very rewarding in the banking sector. minimum wages are D12,000 per month, excluding travel and other allowances. accomodation allowance is the highest.
many of the banks including standard chartarted made profit in the past two years. the banks have access to very low deposit from Gambians. it is gambian borrowing heavily from the banks, in fact the fears should be on the banks, just like in U.K and U.S. it is borrowers who defaut to repay. the nigerian banks came with their funds. they do allow gambians to have stakes but the worry is on the banks. i have confidential information but can't share here.
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Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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toubab1020
12314 Posts |
Posted - 11 Aug 2009 : 17:09:14
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These Nigerian banks must be making huge profits if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?
I would not expect you to share any confidential information that you may have on Nigerian Banks but the question about Saleries surley does not come under that heading. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Santanfara
3460 Posts |
Posted - 11 Aug 2009 : 17:57:03
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quote:
Originally posted by toubab1020
These Nigerian banks must be making huge profits if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?
I would not expect you to share any confidential information that you may have on Nigerian Banks but the question about Saleries surley does not come under that heading.
Toubab, salaries aren't confidential. the central bank info's are. The concern as i said is on the banks to make sure borrowers meet the repayment just like in Germany, Britain or U.S.
Bank failures or potential failures like that of Northern rock was as result of irresponsible lending. the mis-match between lending and liquidity. The nigerian banks operate just any other bank. They lend to profitable businesses at a return.
the renumeration is base on competency and performance. They make the Gambians work so hard, some fear working for them.
During my research, i came across information where Gambian were complaining of the late working hours at the Nigerain run banks.
They pay highly but you work for it. The banks also speculate in stock markets and investment funds. they do bill of laiding, forex, buy gorvernment stocks, and obviously lend to customers.
the pay is tie to how much employees are good at motivating customers to make use of banks facility ie loans, mortgages and etc.
so the central overlook the banks operation and the central bank train their staff regularly on such issues. they spend heavily on techincal training.
my worry is the over use of bank lending by Gambians.
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Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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toubab1020
12314 Posts |
Posted - 11 Aug 2009 : 20:33:08
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I understand all that but my question to you was:
if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?
Your answer didn't address that at all,your posting was a reiteration of normal banking practice, if you chose to lend to someone who obviously cannot afford the repayments,then that is a STUPID risk that you take,as was evident in the case of Northern Rock,Bank Greed also played a considerable part.the world was very happy before the crash, lending money to many people who hadn't a hope at all of paying off the loan,That course of action was STUPID,if you cannot afford something,then don't buy it.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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njucks
Gambia
1131 Posts |
Posted - 11 Aug 2009 : 20:52:39
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hahahaa
Santafara, i can see that you have taken a more positive impression of the banking sector. as i menitioned earlier,and as you have quoted, it is only our youths who have found gainful employment who are the real beneficiaries, and ultimately the country as a whole.
the mobile telephone and banking sectors are both showing signs of growth all over africa. the fastest growing mobile industries are in africa, china and india.
banks in africa i suppose are still banks in the traditional sense, dealing in real money (earned) and having real products not complex futures and derivatives for real customers (people)
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turk
USA
3356 Posts |
Posted - 11 Aug 2009 : 23:21:05
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It seems like Santa is very appreciative of Jammeh's high performance on banking business. It is good to be fair and give the credit to the president.
Without any natural resources, Gambia's economic situation, business climate, stability is something Gambians owe to Jammeh. No? |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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shaka
996 Posts |
Posted - 12 Aug 2009 : 00:57:21
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| West Africa is the hub of world money laundering activity with Sene-gambia the centre of this illicit business. The average Gambian does not benefit fcuk all from the increase in the number of banks. Micro finance is almost non-existent in the Gambia with banks charging atrocious interest rates of up to 40% interest rates. The only beneficiaries from the sprout of banks in the Gambia are crooks and the Gambia government whose dependency on domestic borrowing increases every year. The victims are the poor Gambian masses who continues to bear the brunt of increased taxes to pay off government's domestic debt. The increase in the prices of commodities which are out of reach of the average Gambia reflects this. While businesses mad enough to go on a borrowing spree are going bust left, right and centre as a result of extortionate interest rates and repossession of assets by the banks. |
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turk
USA
3356 Posts |
Posted - 12 Aug 2009 : 02:53:11
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| gulp! |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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Santanfara
3460 Posts |
Posted - 12 Aug 2009 : 10:03:50
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quote:
Originally posted by toubab1020
I understand all that but my question to you was:
if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?
Your answer didn't address that at all,your posting was a reiteration of normal banking practice, if you chose to lend to someone who obviously cannot afford the repayments,then that is a STUPID risk that you take,as was evident in the case of Northern Rock,Bank Greed also played a considerable part.the world was very happy before the crash, lending money to many people who hadn't a hope at all of paying off the loan,That course of action was STUPID,if you cannot afford something,then don't buy it.
Toubab, you need attaya to see mister.
i did say the Gambian workers or employees. This people obviously employ Gambians in key positions, the directors are usually Nigerian but all other managerial positions are mainly gambians. I hope that help.
the Islamic Bank for istance has three Nigerian senior staff and the rest of over 100 employees are gambian. That bank is taken over by Fin-Bank. G-Trust bank also has many Gambian bankers, economist and accountants working for them. Eco-bank in fact has many gambians as well.
I will concur with Shaka that, our micro-finance sector requires a reboust investment. Only less than 10% of Gambians use banks effectively. This is why i stated that, the people are not at risk in the hand of the Banks, it is the reverse.
The interest rates are high, but competition has lessen it.
toubab, i understand your concern, but remember, we are mostly cleaning money, you get me The dangers are, folks are borrowing more than their annual income, and going by the unstable civil service job market, people get sacked for trivial reasons. the banks only option is to evict defaulting customers. imagine your wife and kids use to living in a four bed shelve contain house, with space and garrage and all. and one day, you told them, Darling, we are leaving. that nervous and emotional trauma are the real down side. |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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Santanfara
3460 Posts |
Posted - 12 Aug 2009 : 10:15:45
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quote:
Originally posted by njucks
hahahaa
Santafara, i can see that you have taken a more positive impression of the banking sector. as i menitioned earlier,and as you have quoted, it is only our youths who have found gainful employment who are the real beneficiaries, and ultimately the country as a whole.
the mobile telephone and banking sectors are both showing signs of growth all over africa. the fastest growing mobile industries are in africa, china and india.
banks in africa i suppose are still banks in the traditional sense, dealing in real money (earned) and having real products not complex futures and derivatives for real customers (people)
Njucks, my early commentary on the banks centered on the money-laundry issue which is still pertinent. I emphasise also that, civil servants are entering a trap door by borrowing heavily. this facts still stand. in fact, banks are now competing to leu them by reducing overdraft levels and granting soft loans on naming ceremonies and the like. This are clear undersstanding of the gambian life style.
The Nigerian banks are using the Gambia for diversification purpose and also the low pay scale as compare to the Nigeria. The financial servicing all takes place over the phone and net. The location hadly matters.
Nigerian money men use to jet to London and Zurick, but now the stringent anti-money laundry laws make that difficult. so safe countries like the Gambia offers better opportunity and also there is the expertise at a cheap.
We have to be careful in that, if all our folks are indebted, the potential of social reppercussion might be high.
Turk, this has little to do with H.E competency. Money men like dictators. they get their way without much wrangle. It is a wait and see, when James himself launch into the banking sector, the ogas may be forced to leave. |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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toubab1020
12314 Posts |
Posted - 12 Aug 2009 : 10:37:40
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Ah I see clearly now,
"the Islamic Bank for istance has three Nigerian senior staff and the rest of over 100 employees are gambian. That bank is taken over by Fin-Bank."
Correct me if I am wrong, but didnt this bank have an unfortunate fire a little while ago ?
"we are mostly cleaning money, you get me[:)"
"The dangers are, folks are borrowing more than their annual income,"
Thats good banking practice ?
"the banks only option is to evict defaulting customers."
The banks original decision was flawed so why blame the customer who shouldnt have been given the loan in the first place.
MY question was:
I understand all that but my question to you was:
if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?
Which you have no information on and fill your reply with words of a politician (i.e. a lot of words but meaning very little and avoiding the question)
Now ,who is going to the shop for more green tea and sugar, we have more to discuss and that is going to take some time,Oh, get a bag of kerry at the same time !!
quote:
Originally posted by Santanfara
quote:
Originally posted by toubab1020
I understand all that but my question to you was:
if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?
Your answer didn't address that at all,your posting was a reiteration of normal banking practice, if you chose to lend to someone who obviously cannot afford the repayments,then that is a STUPID risk that you take,as was evident in the case of Northern Rock,Bank Greed also played a considerable part.the world was very happy before the crash, lending money to many people who hadn't a hope at all of paying off the loan,That course of action was STUPID,if you cannot afford something,then don't buy it.
Toubab, you need attaya to see mister.
i did say the Gambian workers or employees. This people obviously employ Gambians in key positions, the directors are usually Nigerian but all other managerial positions are mainly gambians. I hope that help.
the Islamic Bank for istance has three Nigerian senior staff and the rest of over 100 employees are gambian. That bank is taken over by Fin-Bank. G-Trust bank also has many Gambian bankers, economist and accountants working for them. Eco-bank in fact has many gambians as well.
I will concur with Shaka that, our micro-finance sector requires a reboust investment. Only less than 10% of Gambians use banks effectively. This is why i stated that, the people are not at risk in the hand of the Banks, it is the reverse.
The interest rates are high, but competition has lessen it.
toubab, i understand your concern, but remember, we are mostly cleaning money, you get me The dangers are, folks are borrowing more than their annual income, and going by the unstable civil service job market, people get sacked for trivial reasons. the banks only option is to evict defaulting customers. imagine your wife and kids use to living in a four bed shelve contain house, with space and garrage and all. and one day, you told them, Darling, we are leaving. that nervous and emotional trauma are the real down side.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Edited by - toubab1020 on 12 Aug 2009 10:38:53 |
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Santanfara
3460 Posts |
Posted - 12 Aug 2009 : 11:18:06
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"if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?" Toubaba
Toubab, seriously you are up a long chat man. The pay scale is for middle and senior managers (12,000 and over). the middle management position in many companies or institutions are the larger management role. The counter staff pay scale is healthy as we well but not as those with degrees and more professional training. the system Toubab is not too different with that of your avergare western banks or companies.
pay depends of qualification and experience.
In western banks counter staff basic salary might be low, but the allowances offered for selling anciliary banking services increase the pay amount. for instance insurance, mortgages etc.
don't be overly hard the Nigerians man. geee. They too operates on similar basis. help sell other stuff and then yiou get rewarded.
As for your other comments, i will let that bounce. |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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Santanfara
3460 Posts |
Posted - 12 Aug 2009 : 11:20:13
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| Middle management is mostly Gambians. senior management place Nigerians at the helm, MD |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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toubab1020
12314 Posts |
Posted - 12 Aug 2009 : 11:29:07
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"As for your other comments, i will let that bounce."
As you wish of course, but no Attaya for you on this discussion that you have cut short?
quote:
Originally posted by Santanfara
"if they can pay their staff D12000 a month,are the staff in question Nigerian or Gambian and also what grade is this salary available to, counter staff ?" Toubaba
Toubab, seriously you are up a long chat man. The pay scale is for middle and senior managers (12,000 and over). the middle management position in many companies or institutions are the larger management role. The counter staff pay scale is healthy as we well but not as those with degrees and more professional training. the system Toubab is not too different with that of your avergare western banks or companies.
pay depends of qualification and experience.
In western banks counter staff basic salary might be low, but the allowances offered for selling anciliary banking services increase the pay amount. for instance insurance, mortgages etc.
don't be overly hard the Nigerians man. geee. They too operates on similar basis. help sell other stuff and then yiou get rewarded.
As for your other comments, i will let that bounce.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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shaka
996 Posts |
Posted - 12 Aug 2009 : 14:19:01
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You drink too quick, you are going to kill yourself with an almighty hiccups. I love you too man!!quote:
Originally posted by turk
gulp!
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