The Chartered Institute of Bankers (CIB) is urging the Central Bank to consider a tiered recapitalization policy that will enable smaller-sized banks meet the eagerly awaited increment in the industry’s minimum capital requirement. President of the CIB, Patricia Sappor, argued that this approach will ensure that banks are able to serve different segments of the … Read more
An Accra-based radio station, Citi 97.3 FM, has appealed to Vice President Dr. Mahamudu Bawumia to launch an investigation into a contract awarded by the Bank of Ghana (BoG) to SIBTON Switch Systems for the creation of the country’s Retail Payment Infrastructure System. The Retail Payment Infrastructure contract, which was awarded by the Central Bank … Read more
The Bank of Ghana has defended its $120million auction for the first-quarter of this year to control the depreciation of the cedi. The central bank maintained that the move forms part of measures to protect the forex market from any shocks due to the volatility of the market. Official figures from the Bank of Ghana … Read more
The Bank of Ghana has told Citi Business News it will strictly abide by any agreement reached by the government and the International Monetary Fund (IMF) on the financing of government’s budget deficit. It follows a review of the extended credit facility by the IMF and government, in February. Governor Dr. Abdul Nashiru Issahaku believes … Read more
There are mixed reactions over the Bank of Ghana’s decision to auction 120 million dollars to commercial banks between January and March this year. A calendar issued by the central bank said it will auction 40 million dollars monthly, to the commercial banks between the three month period. The move follows a similar one carried … Read more
There are mixed reactions over the Bank of Ghana’s decision to auction 120 million dollars to commercial banks between January and March this year. A calendar issued by the central bank said it will auction 40 million dollars monthly, to the commercial banks between the three month period. The move follows a similar one carried … Read more
The Bank of Ghana (BoG) has announced plans to release some $120 million onto the market for the first quarter of this year as part of the Central Bank’s plan to help stabilise the cedi. The auction which will be restricted to licensed foreign exchange dealing banks will see the regulator, auction $40 million in … Read more
Validated customers of DKM Microfinance company with outstanding claims are expected to be paid monies owed them today. The assurance was contained in press statement released by the official liquidator, the Registrar General’s Department. The Registrar General’s Department, earlier told Citi Business News the payment was rescheduled from Wednesday 14th December to today 19th December … Read more