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 …
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 …
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) is scheduled to from today September 22, 2020 to Friday September 25, 2020 hold its regular meetings. For the committee’s 96th meeting, it is expected to initiate proposals for the formulation of the monetary policies of the central bank, evaluate Ghana’s economy and provide …
The Governor of the Bank of Ghana, Dr Ernest Addison, has stated that all customers of the nine (9) failed banks, and over ninety-five percent (95%) of customers of Specialised Deposit-taking Institutions (SDIs), which were affected by the banking sector clean-up, have received their deposits. According to Dr Addison, the first phase of the banking …
To reduce the alarming cases of staff-orchestrated fraud in banks, the regulator – Bank of Ghana – has ordered banks to take a raft of measures, which include taking staff through police vetting to determine whether they have any criminal history, before employing them. This comes after the Banking Industry Fraud Report published by the …
The Bank of Ghana (BoG) has announced on Wednesday August 12 that in 2019, the banking industry reported a total number of 2,295 fraud cases as compared to 2,175 fraud cases reported in 2018. The central bank said the marginal increase in the number of fraud cases reported may partly be attributed to the improved …
Credit to the private sector declined by GHc1.24 billion in May 2020, according to the latest Bank of Ghana (BoG) Statistical Bulletin. This occurred during the peak of the coronavirus pandemic in the wake of government’s partially lockdown of the economy’s two biggest hubs for three weeks. According to the data, banks and other financial …
The Bank of Ghana (BoG) has said the 91-day Treasury bill rate for the month of June 2020 has declined to about 14.0 percent from the 14.8 percent recorded a year ago in 2019. According to the Governor of the Bank of Ghana, Dr Ernest Addision, the interest rate on the 182-day instrument also declined …
GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect. The bank has also granted a two-month moratorium on both the principal and interest repayment on personal loans. The measures form part of extensive efforts by the Bank to lessen the impact of …