[ad_1]
Business News of Monday, 3 June 2019
Source: citibusinessnews.com
2019-06-03
26587967
All persons entitled to claims from any of the collapsed microfinance companies should pay at least one month.
It will, however, follow the completion of the validation for such claims by the Receiver, Eric Nana Nipah of PricewaterhouseCoopers (PwC).
The latest directive was contained in a statement issued by Mr. Nipah.
For the purpose of the receiver, all persons and institutions are entitled to complete payment of the claim.
Upon receipt of these documents, the Receiver is expected to validate the claims before he can initiate payment.
But such payments are expected to be effected after receiving the claims.
"Creditors will be required to submit their claims by way of a PoD form to be designed by the Receiver. In this case, Creditors will be required to attach to their claim (s) as well as amounts owed to them, "portions of the statement said.
It added, "The Receiver estimates that the process of validating and agreeing Creditor claims will take over from the date of the deadline for the submission of Creditor claims."
Meanwhile, the Receiver says it is currently badessing the state of affairs of microfinance institutions in order to ascertain the types and values of their badets and liabilities.
This is expected to be completed within ten days.
"It is the intention of the Receiver to conduct an badessment of the state of affairs of these institutions in order to ascertain the types of badets and liabilities of these microfinance companies at the beginning of receivership. The Receiver estimates that this badessment will be completed within the next 10 days. "
The Bank of Ghana, on May 31, 2019 revoked the licenses of three hundred and forty-seven microfinance companies and thirty-nine microcredit institutions for being insolvent.
The move follows a similar one in the banking sector over the last two years.
It is in particular to sanitize Ghana's financial sector by protecting funds and renew confidence.
Source link
