The International Commercial Bank (ICB) on Thursday presented a cheque amounting to D20,000 dalasi to Jammeh Foundation For Peace Education Trust Fund, at a ceremony held at the Bank’s head office on 48 Kairaba Avenue, Serrekunda.

The presentation ceremony was attended by the Chief Executive Director of Jammeh Foundation for Peace (JFP)Ansumana Jammeh. According to him, the main objective of the Foundation was to consolidate the efforts of well-intentioned citizens of The Gambia to improve the socio-economic condition of the Gambian people.

Welcoming the guests from JFP, Mr. Muralidharan, Chief Executive Officer of ICB, described the move as a humble beginning in fulfilment of the bank’s social responsibility to the economic prosperity of The Gambia. He added that the Bank intended to step up their contribution towards the Gambian society in tune with the Bank’s growth.

He made a brief mention about the quality of service delivery by ICB and its social corporate responsibility towards the community.

He expounded briefly on the "Multiplier Effect" that the Banking Industry has on the economy – that is mobilising savings of the people and lending to Agriculture, Industry and Services and generating profit. The borrowers too generate profits. All the profits get ploughed back into the economy.

The ICB CEO said although there are many commercial banks operating in the country, ICB was the "first bank privileged to be officially opened by the Gambian leader, Dr Alhaji Yahya Jammeh. When we look at the plaque everyday, we are reminded of our responsibility to the people".

While receiving the Cheque, Mr. Ansumana Jammeh, Chief Executive Director of JFP, expressed the foundation’s sincere appreciation of ICB’s gesture, "To you the amount might be small, but to us it is not," Mr Jammeh said, adding: " Jammeh Foundation, as we all know, have ploughed a lot of money in paying school fees for needy students. We are also running a hospital that is accessible to all and sundry."

Mr Jammeh further gave highlights of the projects embarked upon by the JFP, which, according to him, encompases agriculture, health, education and youth empowerment. He added that the money spent on the projects are mostly donated by the founder of the Foundation, President Jammeh.

The ICB’s donation, he added, would go a long way in helping to finance some of the projects and pay the school fees of some of the students.

"This year alone”, he went on, “we spent about one million dalasis on school fees, through out the country. Most of the money we spent on financing these projects came from the President himself. If a commercial bank such as ICB has come with the initiative to support the mammoth efforts launched by The President, I think it is worth commendation." Mr Jammeh stressed that while money is welcomed, even good intentions and voluntary service efforts are important in fulfilment of the Vision.

Sheriff L. Jagne, assistant general manager of the ICB, in his brief remarks, said "although we are a commercial bank but the concerns of the community are high on our agenda. Whenever we achieve profits, we will plough it back to the Society, which is the reason for our existence and our Profitability. So our social responsibility will never be forgotten."

Mr Jagne highlighted on their intention of establishing more branches of the bank this year, in addition to already existing three branches at strategic locations.

Other speakers at the ceremony included Sulayman Badjie, deputy Chief Executive Director of JFP.