The management of the Brikama Area Council (BAC) has signed a Memorandum of Understanding (MoU) with the Guaranty Trust Bank (GTB) which will entail a direct payment of landtransfer fees in West Coast Region to the Bank.The signing of the MoU was doneon Monday 4th June, 2012 at the BAC ground in Brikama. The MOU will enable the Council’s customers to pay land transfer fees at any GTB branch in the country.

Speaking at the signing ceremony, Sunkary Badjie, the chairman of the Brikama Area Council dilated on the benefits of such partnership and expressed confidence that the two sides will leave up to expectations.

Femi Omotosu, managing director and chief executive officer of Guaranty Trust Bank (Gambia Limited) said his bank has an excellent track of collecting revenue on behalf of partners and cited a recent MOU the bank signed with The Gambia Revenue Authority (GRA).

MD Omotosu assured the management of the Council that his Bank has the required professional skills, personnel and technical resources to perform the signed services to customers of the Council. According to him, revenue collection method is not a activity to his bank, stating that his bank have a platform that provide services for its customers across the country as the bank is having over fifteen branches and the sixteenth one is under construction in Banjul.

Justifying the rationale of the MOU, the chief executive officer of the Brikama Area Council Momodou Jallow said the agreement will enable GTB to collect and manage all land transfer payments accruing to the customers. According to Jallow, amongst other things that the MOU will improve will includefinancial management, enhancement of timely collection of the land transfer fees and the reduction of risks associated with officers handling cash.

He stated that as per the MOU, GTB is authorised to open a revenue collection account in the Council’s name in which all the revenue shall be paid into, saying the scheme will strengthen the already cordial relationship between the two institutions. The collection method, he said will ease the burden of cost of compliance on tax payers.

Jallow maintained that the method will even reduced the burden on the council’s land transfer fee collection staff as it takes them times before they complete the process in the different areas. He made it clear thatthe account is only for the rates and land transfer fees. “It is a challenge but as a local service provider, it is our mandate to provide essential and valuable services to the tax payers.’’

The bank’s MD Femi Omotoso and Isatou Jawara signed the MoU on behalf of Guaranty Trust Bank while the CEO Momodou Jallow and Alhagi Jeng sugned on behalf of the Brikama Area Council it the presenceof Sunkary Badjie, the chaiman Brikama Area Council.

In attendance at the signing ceremony were Dodou Bojang and Kaddijatou Jallow ouncillorsat the GTB Corporate affairs and public sector as well as councillors and staff of the Brikama Area Council. The ceremony was chaired by Modou Jonga, public relations officer of theBrikama Area Council.