General News Politics

Stop collapsing our banking institutions – Parliamentary Hopeful to BoG

Mr. Apatsea Isaac Kwasi, Parliamentary hopeful for Upper Denkyira East Constituency in the Central Region of Ghana has warned the Bank of Ghana to put an end of collapsing many banks in the country.    A holder of Master of Arts in Human Resource Development(HRD) further appealed to them to rather co-manage the affected financial institutions with a staff from bank of Ghana than collapsing them which he said was not the best.    According to him, businesses in Ghana improved upon the establishment of many Banks and micro finance institutions in the country because they were been supported by these  banks and cultivated the habit of savings.    He indicated that, with the collapse of many financial institutions, traders and businesses would be affected because they may not have the support they enjoyed from the financial institutions sometime ago.    Mr. Apatsea Isaac Kwasi further appealed to the  Bank of Ghana to rather station an officer well vested with banking know- how at these financial institutions in order to co-steer the management of these financial institutions to achieve good results rather than collapsing the banks.    He again noted that, the financial institutions apart from helping in savings also employ a lot of the youth, commit themselves to community development by sponsoring academic activities in our schools, offer scholarships, provide water and other facilities. Stressing that, collapsing such institutions will have negative implications on Ghana’s economy.   He once again called on the government to step in to halt the collapse of our financial institutions to paint good picture to the international community.   This BoG, sanitizing our financial institutions started with some banks which were perceived by the public of doing well in  the financial market to the extent rewarding some of them.      He however, cautioned the Bank of Ghana to consult the general public on plans to effect such planned actions on the financial institutions before collapsing them.      Source Foster 

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