Tag: Ghana Association of Banks
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Ghana Association of Banks welcomes provisions for recapitalization
The Ghana Association of Banks is urging banks whose capitals are below the minimum capital requirement to quickly build it up to meet the right requirements proposed by the Central Bank. The Association maintains that this will also boost their businesses. This comes as the Bank of Ghana has given banks up to the end…
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Government and Association of Banks reach agreement on DDEP
Finally, there is an agreement between the government and the Ghana Association of Banks over the Domestic Debt Exchange Program. The Association had earlier instructed commercial banks to hold off on approving the revised debt exchange offer until its members’ needs were satisfied. They claimed that the key reason for this was the lack of…
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Banks seek shorter maturities in local debt-swap deal
Ghanaian banks are holding out for better terms in a domestic bond-exchange program aimed at easing the government’s debt-service burden. This is according to Bloomberg. No bank will make a profit in 2022 if they accept the new bonds offered under the exchange, and some face collapse, according to two people familiar with ongoing talks…
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Debt exchange programme: BoG announces relief packages for banks
In its quest to strengthen the banking sector and help manage the possible impacts of government’s proposed debt exchange programme on banks in the country, the Bank of Ghana has outlined a number of policy and regulatory relief packages for these institutions. The move is to help preserve the financial stability of these financial institutions…
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Development Bank Ghana joins Ghana Association of Banks
The Development Bank Ghana (DBG) was officially admitted to the membership of the Ghana Association of Banks (GAB) on November 1, 2022. DBG, therefore, becomes the 25th Institutional Member, following the approval of the Executive Council of GAB. DBG is expected to complement the efforts of other Institutional Members of the Association in the drive…
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Introducing legislation to force banks to lend is not the way to go – GAB advises
The Ghana Association of Banks has advised against using legislation to force banks to lend to the Agriculture sector. This comes on the back of recent remarks by the Minister of Food and Agriculture, to the effect that the banking sector has not been lending enough to the country’s agriculture sector to support its transformation.…
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Financial transactions will be allowed even without Ghana card from 1st July – GAB assures
The Ghana Association of Banks has assured that despite the end of the period given for customers of financial institutions to update their data with the Ghana Card, they will be able to still carry out banking transactions even without the card. The directive regarding the update of the data of customers of financial institutions…