The Deputy Managing Director of ARB Apex Bank, Alex Awuah has cautioned individuals responsible for spreading false messages about the state of Rural and Community Banks in the country, to desist from their actions, since they can negatively affect that segment of the financial system.
His comments follow a recent call by the Bank of Ghana for the general public to disregard some malicious messages circulating on social media platforms such as WhatsApp and Facebook about Rural and Community Banks.
According to the press release from the central bank, the malicious messages do not only create the false impression that an intended “clean up” of the Rural and Community Banks (RCBs) sub-sector by the Bank of Ghana would negatively affect depositors funds with RCBs, but they also urge depositors to move their funds to other institutions.
Sharing his thoughts on the unfortunate development with Citi Business News, the Deputy Managing Director of ARB Apex Bank, Alex Awuah, warned that such messages can harm the financial sector.
“We urge all our customers to exercise some restraint, but we also want to put out a word of caution to those sharing malicious messages. Their actions are hurting the entire financial system and that is not going help the country as a whole.”
Mr. Awuah finally assured the general public of the strength of Rural Banks across the country.
“In the particular case of the Rural Banks, they are very strong. Only a few banks have some challenges, but these challenges are under control and we hope that as part of BoG’s efforts all these issues will be addressed,” he added.