Home / Report on local banks submitted to President Akufo-Addo

Report on local banks submitted to President Akufo-Addo

A report on the state of local banks in Ghana has been submitted to President Nana Addo Dankwa Akufo-Addo.

Following a petition local banks sent to the President requesting for an extension of the deadline for the new minimum capital requirement, a committee was set up to assess the health of the indigenous banks.

According to Mr. Osei Gyasi, Head of Banking Supervision at the Bank of Ghana, the committee has completed its work and handed over its report to government.

Meanwhile, Mr. Gyasi says the merger of the five banks by the Central bank is to strengthen the balance sheets of these banks.

Speaking on GBC’s “Behind The News”, Mr Gyasi said the collapse of the banks should not be seen as a weak supervisory role by the Central bank but an effort to clean up the banking sector.


gbcghanaonline.com

About Elvis Anokye

Check Also

Winners For 25th GJA Awards Announced

The Ghana Journalists Association (GJA) has announced winners for its 25th GJA awards slated for …

EC To Refund GHC500k To Failed Presidential Aspirants

The Electoral Commission (EC) said it will refund Ghc100,000 to each of the five disqualified …

Driver Jailed 30years For Robbery

Issah Iddrisu, a driver, was on Monday sentenced to 30 years imprisonment by an Accra …

Leave a Reply

Your email address will not be published. Required fields are marked *