Category: Banking And Finance
-
Comply with consumer protection policies – BoG to banks
Governor of the Bank of Ghana, Dr. Ernest Addison, is asking banks in the country to comply with the consumer protection policy governing the sector. This forms part of the Central Bank’s effort to ensure the comfort and safety of consumers are well attended to. Section 3 of the Banks and Specialized Deposits-Taking Institutions Act…
-
Bankers Association charges merchants to be vigilant to reduce ATM fraud
The Ghana Bankers Association has called for extra vigilance on the part of merchants providing goods and services in order to help reduce ATM or card fraud. The 2020 fraud report from the Central Bank revealed among other things that, ATM or Card fraud recorded a loss value of approximately GH¢ 8.19 million in 2020,…
-
Bullion van attacks: Rural Banks also implementing safe systems for carting money
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says its members are taking the necessary steps to ensure that the movement of money to and from rural and community banks is done safely. Following the bullion van attack at Adedenkpo-Jamestown in June this year, the…
-
Access Bank awards finalists of Perfect Start promo
Access Bank (Ghana) Plc has presented cash prizes and other consolation prizes, to top seven finalists of its Perfect Start Promo. The first four contestants got their share of the coveted GH¢100.000 cash prize. The Perfect Start Promo was the first-ever digital promo of the Bank, targeted at children. It was aimed at protecting the…
-
Poor fiscal consolidation contributing to high interest rates – Dr. Addison
Governor of the Bank of Ghana, Dr. Ernest Addison has highlighted the country’s poor fiscal position as one of the reasons for the high lending rates in Ghana. According to him, among other things, the disparity in the country’s revenue and expenditure forces government to borrow from banks, leading to a crowding out of the…
-
Access Bank partners Coronation Insurance to provide Business Protection for SMEs
Access Bank has unveiled its Business Protection Insurance offering to provide protection against fire, flood, burglary and personal accidents, for Small and Medium Scale Enterprises. The Business Protection Insurance is the newest addition to the portfolio of insurance offered by the Bank, in partnership with Coronation Insurance. Unveiling the new insurance package together with Mr.…
-
Financial institutions charged to procure advanced systems to deal with cyber threats
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has challenged financial institutions to continuously examine the state of their security systems and design appropriate mechanisms to counter possible cyber threats. The financial sector, according to the 2020 Banking Industry Fraud report, saw the value of attempted cyber fraud in general rise…
-
Rural Banks working to reduce cases of fraud – ARB Apex Bank
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says the increase in different types of fraud in rural banks is a course for concern. According to the Bank of Ghana’s Banks & SDI Fraud Report for the year 2020, Banks and rural community banks recorded…
-
Best Point Savings and Loans launches ‘Best Mobile Banking’ product
Ghana’s leading savings and loans institution, Best Point Savings and Loans, has launched its new mobile banking services dubbed Best Mobile Banking. The institution unveiled the new mobile banking to ease the financial transactions of its customers. The Chief Executive of Special Group of Companies and Board member of Best Point Savings and Loans, Dr.…
-
Ghanaians to use more coins as BoG plans to phase out GH¢1 and GH¢2 notes
The GH¢1 and GH¢2 notes will soon be phased out of the Ghanaian economy. This was made known by the Governor of the Central Bank, Dr, Ernest Addison on Monday, September 27, 2021. Dr. Addison said the two notes which are usually not in good shape will be replaced by their respective coins. “The GH¢1…