Reliance Financial Services Ltd.

Reliance Financial Services Ltd., Gambia

Companies

Banking

Contact Details:
Head Office address
Reliance Financial Services

Website: www.reliancegambia.com

46 A Kairaba Avenue
Reliance Plaza Building
(near Elton Petrol Station)
Kanifing Municipal area (KSMD)
The Gambia
West Africa
Telephone number: 4390070
4390071
Fax: 4390155
Email: info@reliancegambia.com

Branches:
Barra Point

Kiosks:
Lamin
Serrekunda
Banjul Albert Market
Banjul Ferry Terminal
Tanji Village
Latrikunda Sabiji Market

Its kiosks are aimed at getting services to the customer and they are equipped with IT equipment and powered by solar.

Financial Highlights		2007
		$ Million
Net Loans Outstanding		2.3 mil.
Total Deposits		2.7
Return on Average Assets		(15.6%)

Total no. of:
Borrowers		477
Depositors		6275
Branches		2+6 kiosks
Employees		50

Loans		477

Personal Banking Services:
• Entrepreneurial Accounts
• Fixed Deposits
• Children's Accounts
• Personal Loans
• Savings Accounts

Business Banking:
• Business Savings Account for only D1000

• Business Development Advisory Service.

Reliance provides Micro and Small and Medium Enterprise loans starting from D3000 up to D1.5 million for commercial purposes

Money Transfers:
As an agent of Western Union it began its forex transfer service on the 20th September, 2007.

Foreign Exchange:
RSF is licensed to buy and sell foreign currencies over the counter including traveller's cheques and receiving and sending telegraphic transfers.

Other Services:
Haj Plan:-
Minimum opening balance D10,000. The plan aims to offset the expenses of making the pilgrimage to Mecca.

Osusu Plan:-
Based on one of Africa's oldest savings schemes it allows for specially designed deposit slips for the Osusu Club by which members can make individual deposits without visiting the house of the next cash recipient.

Company Profile:
Reliance Financial Services Co. Ltd. (RFS) is a greenfield, Non-Bank Financial Institution (NBFI), which was granted a full NBFI licence on the 11 December 2006 by the Central Bank of The Gambia. This allowed it to raise deposits and advancing credit loans to and from the general public. It began its operations in February, 2007 and offered its first loan in the same month. This followed the soft launch to the public on the 19th December 2006 The firm, which employs 50 Gambians and has an equity capital of D30 million, was founded by Baboucarr Khan, Seedy A.B. Njie and Ismaila Faal who are all financial professionals.

Investors:
The founders (above).
The other private investors are 6 shareholders, ShoreCap International Ltd. of Chicago in the US and the Dutch based Triodos Doen International Fund Management. The last two are private equity investment firms that invest in small going concerns and microfinance banks based in Africa, Asia, Eastern Europe and South America.

Board Members of RFS Ltd.:
Baboucarr Khan	Chief Executive Officer
Amie Bensouda	Chair Person
Paul Christensen	President
Jacco Minnar
Alpha Barry
Ebenezer Olufowose
Senior Management Team:
Ismaila Faal	Chief Operating Officer
Seedy A.B. Njie	Chief Financial Officer
Assan O. Jallow	Head of Risk & Compliance
Modou N.S. Njie	Information Technology
Khaddy Jammeh	Operations Manager
Fatou Lowe	Human Resources

Reliance Financial Services is founded on the basics of professionalism, good social / business ethics and transparency to all shareholders, customers and practices integrity and good corporate governance.