ISSUANCE OF A LICENSE TO YONNA ISLAMIC INSURANCE LIMITED UNDER SECTION 5 OF THE INSURANCE ACT 2003

PRESS RELEASE
CENTRAL BANK O FT H E GAMBIA

The General Public is hereby informed that the Central Bank of the Gambia
acting under Section 5 of the Insurance Act 2003, issued a licence to Yonna
Islamic Insurance Limited on November 23, 2023, to do insurance business in The Gambia.
Under the terms of the licence, Yonna Islamic
Insurance si mandated to conduct insurance business strictly in line with the principles of Shariah (Islamic
Law).
The licensing of Yonna Islamic Insurance, which brings to thirteen (13) the number of insurance companies operating in The Gambia, is expected to further deepen the financial sector as well as enhance competition in the insurance industry.
A deep and competitive financial sector si an important prerequisite for sustained economic growth a n d development.
Buahtf-
CENTRAL BANK OF THE GAMBIA November 23, 2023
Mission Statement: Toachieve and maintain