Central Bank of the Gambia, RTGS (RTS/X) and SSS (DEPO/X)

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Central Bank of the Gambia, RTGS (RTS/X) and SSS (DEPO/X)

Central Bank of the Gambia

Central Bank of the Gambia, RTGS (RTS/X) and SSS (DEPO/X)

In collaboration with the West Africa Monetary Institute under the West Africa Monetary Zone Monetary Integration Programme, the Central Bank of the Gambia carried out modernization of national payments, clearing and settlement infrastructure. In April 2010 CMA Small Systems AB has been awarded to supply and install Real Time Gross Settlement and Scripless Securities Settlement systems in all WAMI member states (namely the Gambia, Sierra Leone, Guinea and Liberia) in scope of this initiative sponsored by African Development Fund. RTGS is launched in 2011, SSS is implemented next and launched in 2013.
The RTGS serves as a central system, where transactions converge from all other Gambian payment systems (ACP/ACH, GAMSWITCH, SSS). SSS records and manages data on all government securities, interbank repurchase obligations, facilitates auctioning process and liquidity management. The systems facilitate high speed and secure transactions exchange within the country and play a stabilising role on the bank system of the Gambia.

Status: The system went into live operation in  2013 according to the project schedule.

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