Scripless Securities System is launched at the Central Bank of Gambia
CMA launched its solution for Scripless Securities Settlement System at the Central Bank of Gambia
. CMA has announced today that its solution for Scripless Securities Settlement System has been launched at the Central Bank of Gambia
Being the member of the West African Monetary Zone (WAMZ), the Central Bank of Gambia is included in the initiative of the Payment System Development program under management of West African Monetary Institute (WAMI) and sponsored by the African Development Fund. Within this initiative, CMA is providing both Real Time Gross Settlement system (RTGS) and Scripless Securities Settlement System (SSSS) to all member-countries (those are: Gambia, Sierra Leone, Guinea and Liberia). After the successful launch of the CMA’s RTGS in 2011 in the Central Bank of Gambia, Securities Settlement System was implemented next.
Currently, 13 commercial banks are connected to the system, which is fully integrated with the Central Bank of the Gambia’s Core Banking and CMA’s RTGS systems.
Mr. Mbye Jammeh (SSSS Project Manager, Central Bank of Gambia), commented: “We are extremely proud to have gone-live in the SSS of the WAMZ payment System Project with the help of CMA staff. We are very grateful to all of them for a job well done.”