Category: Banking And Finance
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BoG threatens 3-year ban for persons consistently issuing dud cheques
The Bank of Ghana says it will ban customers caught issuing dud cheques for three consecutive times, from accessing new credit facilities from the banking system for a period of up to three (3) years. This was contained in a notice from the Central Bank to Banks, Specialised Deposit-Taking Institutions (SDIs) and the Public, communicating…
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Registrar General to meet clients of six defunct FMCs virtually on Thursday
The Registrar General, Jemima Oware, is set to have a meeting with customers of some six defunct fund management companies on Thursday, March 11, 2021. The meeting which is the first for this year will be held virtually. Dubbed Virtual First Creditors meeting, the session will be from 9:00 am to 3:30 pm on the…
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UBA poised to change the face of E-Banking with new mobile app
Pan African financial institution, United Bank for Africa (UBA), Plc is set to change the face of digital banking services with its new mobile banking app aimed at delivering first-rate services to customers. The new UBA mobile banking app, has been armed with benefits and features designed to give its customers increased control and accessibility…
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Absa Deputy CEO, Peter Matlare dies after battling COVID-19
Deputy Chief Executive Officer of Absa Group Limited and Chief Executive responsible for Absa Regional Operations, Peter Matlare has passed on after succumbing to COVID-19 related complications. A statement issued by the Group stated that, the Deputy Group Chief Executive who had been with the bank since 2016, died on 7th March 2021. It also…
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UMB signs new Controller Loan Products with National Assoc. of Registered Midwives, Ghana
Universal Merchant Bank (UMB), has signed an agreement with the National Association of Registered Midwives, Ghana (NARMG), to offer its members on the controller payroll, a special UMB Controller Loan product of up to GHS150, 000, which will be spread over 48 months at a competitively low interest rate, with a turnaround time of 48…
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NIMED Capital Limited launches IPO for NIMED Lifetime Unit Trust
NIMED Capital Limited, a fund management company licensed by the Securities and Exchange Commission (SEC) and the National Pensions Regulatory Authority, NPRA, with specialty in investment banking and fund management, has announced the launch of its new unit trust – The NIMED Lifetime Unit Trust. The Scheme, which was launched on 3rd March, 2021, will…
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Registrar General awaits court order to continue paying clients of defunct FMCs
The Registrar General, Jemima Oware, has disclosed that she is awaiting more winding down orders from the court assigned to handling the liquidation cases for fund management, before making more payment to customers whose funds have been locked-up in the various defunct fund management companies. Giving updates on the payment process, Mrs. Oware, in an…
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UBA Ghana restates commitment to provide fast and secure remittance service with Africash
UBA Ghana, a Pan-African financial institution, has reiterated its commitment to provide fast, secure, reliable and convenient remittance services across all 20 operating countries with its intra-African money transfer service, Africash. Africash is a secure and robust remittance processing platform that helps customers and non-customers to quickly send and receive funds at any location where…
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SEC warns public against investing in Wiseling Online Investment Company
The Securities and Exchange Commission (SEC) has cautioned the public against investing in Finland-based company operating in Ghana, Wiseling Online Investment Company. SEC says it has not licensed the company to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act…
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Stress-test your systems against possible cyber-attacks – BoG to banks
Governor of the Bank of Ghana, Dr. Ernest Addison has charged banks in the country to continuously stress-test their institutions under different scenarios to ensure they are ready when unforeseen risks occur. Unlike other sectors that suffered considerable losses, the financial sector has remained relatively stable in the face of the pandemic. While touting the…