The Bank of Ghana (BoG) has cautioned the general public against the practice of “Money Doubling”, “Card Loading” and “Credit Card Loading Systems”. According to the central bank, these practices involving inviting members of the general public through traditional and social media outlets to deposit money with “Money Doubling”, “Card Loading” and “Credit Card Loading …
The Bank of Ghana (BoG) has noted in its Financial Review Report for 2019 that Total financial system assets expanded in the period under review. The assets of the financial system increased to GHC186.11 billion at end-December, 2019 from GH?168.42 billion at end-December, 2018. The improvement in the asset of the financial system was on …
The Bank of Ghana (BoG) has noted in the Executive Summary of its Financial Stability Review report that the banking sector remained sound and robust to severe stress test scenarios, featuring significant increases in credit impairments, extreme movement in interest and exchange rates, and liquidity pressures. The BoG added also that risk emanating from cross-border …
Ghana’s Embassy in Belgium capital Brussels, has been ordered by its banker to withdraw all its money so that the bank will proceed to close the embassy’s accounts. The ING Bank has not given any reason for the decision to close the embassy’s accounts, but says the decision is irreversible. The embassy has up to …
The Bank of Ghana has said Ghana’s economy is very likely to bounce back from the coronavirus shocks faster than expected. First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari, has said even though the country experienced a contraction in business activities in the second quarter of this year, the Central Bank’s Composite …
The use of cheques to make payment could witness further decline in volume, following the addition of the Automated Clearing House Direct Credit, Near Real Time payment channel. This is because the Near Real Time (NRT) payment channel offers a better and quicker alternative to cheques. The Chief Executive of GhIPSS, Archie Hesse in an …
Deputy Trade Minister, Mr Robert Ahomka-Lindsay has launched the second edition of the Ghana Women Entrepreneurs Summit (GWES 2020) with a call on women to formalize their businesses and adopt online trading to survive the competition. He said for the Micro, Small and Medium Enterprises (MSMEs) to survive and progress in the coming years, formalization …
The Chief of Party at the United States Department for Agriculture (USDA) Ghana Poultry Project (GPP), Carianne De Boer has called on all players in the agriculture sector to work together in building a strong positive regulatory environment that will step up private investment and access to finance in agriculture. Speaking at the opening of …
Ghanaians banks have stepped up efforts to blacklist staff caught stealing or committing any fraudulent activities from getting new jobs in the banking industry. Ghana Association of Bankers said it is important for banks in Ghana to have a central system that allows banks to identify individuals with a fraudulent history. Deputy Chief Executive of …
The 96th regular meeting of the Bank of Ghana’s Monetary Policy Committee begun on , Tuesday, September 22. It will end on Friday, September 25 and this will be followed by the announcement of the MPR for the next two months on Monday, the 28th. The meeting has been preceded by intense lobbying by the …