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News from Saturday, June 8, 2019
Source: kasapafmonline.com
2019-06-08
Ernest Addison, Governor of the Bank of Ghana
The Bank of Ghana has asked rural bank customers to disregard social media messages asking them to withdraw their funds due to impending cleanup.
In a statement, the central bank said the messages were malicious.
"The attention of the Bank of Ghana has been drawn to the messages circulating on social media platforms such as WhatsApp and Facebook stating that a planned cleaning of the subsector of rural and community banks by the Bank of Ghana would have a negative impact on the funds of depositors, that they transfer their funds to other institutions.
"To avoid any ambiguity, the planned clean-up exercise only targets insolvent and illiquid financial institutions that are unable to cope with depositors withdrawals. The purpose of the exercise is to enable depositors to access their funds. The Bank of Ghana will want to encourage the general public and customers to continue to do business with solvent, liquid and powerful CBRs, "the statement said.
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