Tag: Ghana Association of bankers
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GhIPSS, GAB extend waiver of charges on digital banking platforms to June 20
The Ghana Association of Bankers (GAB), and the Ghana Interbank Payment and Settlement Systems (GhIPSS) have agreed to extend the waiver of fees on digital banking platforms to June 20, 2020. The waiver, which took effect on March 23, 2020, was part of efforts to encourage the use of digital payment options to limit the…
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Review decision to re-introduce fees on electronic transactions – Bankers Assoc. to GhIPSS
The Ghana Association of Bankers is pushing for a meeting between the Ghana Interbank Payment and Settlement Systems, GhIPSS, and the Governor of the Bank of Ghana over the former’s decision to re-introduce fees charged on electronic transactions. GhIPSS, has in a statement to banks and other partner agencies, announced that it will from May…
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Ghana Association of Bankers contributes GHS2m to COVID-19 Fund
The Ghana Association of Bankers in a bid to mitigate the impact of COVID-19 on individuals and businesses in Ghana, has contributed two million Ghana cedis to the Ghana COVID-19 Private Sector Fund. The amount is GAB’s contribution towards the construction of a 100-bed COVID-19 Infectious Disease and Isolation Facility, located at the Ga East…
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Banks cut interest rate by 200 basis points to mitigate impact of COVID-19
The Ghana Association of Bankers has announced a cut in its benchmark interest rate by 200 basis points to mitigate the economic impact of COVID-19 on businesses and individuals. In a statement, the Association also announced a three billion cedis support package by way of loans to players in Ghana’s pharmaceutical industry. The 200 basis…
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COVID-19: Banks to support pharmaceutical firms with GHS3bn loan package
The Ghana Association of Bankers has announced a GHS3 billion specialized loan package to support pharmaceutical companies operating in the country, as the coronavirus pandemic takes a toll on businesses. According to the Association, the pharmaceutical sector is a critical component in the fight against COVID-19, hence the need to assist the sector. The Association…
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Ghana Association of Bankers to support COVID-19 fight with GHS10m
As part of efforts to mitigate the impact of the Coronavirus on the financial services sector, the Ghana Association of Bankers has announced that it is donating ten million Ghana Cedis (GHS 10,000,000.00) to government, towards the purchase of critical equipment for managing the COVID-19 pandemic and for the purposes of public education. “This is…
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Banks to absorb cost of deposit insurance scheme — Alhassan Andani
President of the Ghana Association of Bankers, Alhassan Andani has assured that banks in the country will take up the cost of the Deposit Protection Insurance Corporation when it comes into effect next month. The Deposit Insurance Corporation will protect depositors’ funds in the event of bank failure and revocation of licenses. In an interview…
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BoG must decide extension of recapitalization deadline
The independence of the Bank of Ghana (BoG) must be allowed to prevail even as appeals are considered from local banks for an extension of the deadline for recapitalization. This should also build a strong financial sector with the capacity to support economic growth. That is the suggestion from Financial Analyst, Professor Godfred Bokpin. His…
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BoG puts reference rate for April at 16.82%
The Bank of Ghana has pegged the Ghana Reference Rate for April 2018 at 16.82%. This means that all commercial banks will determine their interest rates on their loans with the figure as their reference. The new system also follows the central bank’s decision to review the previous Base Rate model which adopted a minimum…
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VRA debt: 160 million cedis to be paid end of March
About 160 million cedis is expected to hit the accounts of banks that are owed the energy sector debts, by the end of March 2017. This is according to the President of the Ghana Association of Bankers, Alhassan Andani. The payment will be the first to be made this year since the erstwhile NDC government…