The Bank of Ghana has assured that, it is taking pragmatic steps to make the Deposit Protection Act operational by April this year. When operational, the Act will protect depositors’ from unforeseen circumstances that may result in the collapse of any financial institution. The Act, which was passed by parliament in 2016, is expected to …
The average interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in December 2017. This is the third consecutive time that the base rates have been kept unchanged at 25.7 percent. The base rate is the lowest rate at which a bank would lend to its customers. According to the …