ARB Apex Bank urges banks to form partnerships to stay in business



[ad_1]

Share this with more people!

Mr. Kojo Mattah, Managing Director of ARB Apex Bank, has asked rural banks to enter into partnership agreements to gain mutual support to allow them to continue operating.

He said the partnership agreement would allow banks to meet minimum capital and other regulatory requirements, and change the banks’ operating direction to avoid liquidation.

This was contained in a speech read by George Osei Annor, Manager of the Cape Coast Branch of ARB APEX Bank, on behalf of Mr. Matta during the Extraordinary Shareholders’ Meeting of Akyempim Rural Bank Limited in Gomoa Dawurampong.

Matta said the regulatory regime was strict to help control the establishment of banks, adding that Law 930 and Law 931 were established to sanitize and strengthen the banking industry.

According to him, they were severe penalties for non-compliance and banks had to comply with the requirements of the deposit protection scheme.

He said the consideration of the partnership between Amenfiman Rural Bank and Akyempim Rural Bank was good news for the rural community bank fraternity.

He said that the injection of capital to maintain liquidity in general, the ability to borrow, the purchase of new fixed assets to replace the obsolete ones, increased productivity and the commitment of high-caliber employees were some of the benefits of a partnership. .

It is in this sense that ARB Apex Bank is pushing the arrangement for the two banks to see the “light of day,” added the Managing Director.

Mr. Daniel Ohene Owusu, National President of the Ghana Rural Bank Association, applauded the pioneering role played by the illustrious natives of the traditional Akyempim area who championed the establishment of the Rural Bank.

In a speech read on his behalf by Ms. Comfort Owusu, General Executive Director of the Association, Mr. Owusu admonished the Board, Management and staff of Akyempim Rural Bank to be aware of existing statutes and regulatory directives .

They included the bank’s specialized deposit-taking institutions, businesses, anti-money laundering laws, credit reporting, lenders and borrowers, the Bank of Ghana guide to reporting institutions, and the ARB accounting manual and legislative instrument. Apex Bank (LI 1825), among others.

He said compliance with the law and directives would help instill discipline and decorum in bank operations and help organize on-the-job and in-service training programs on basic operational issues to sharpen the knowledge and skills of stakeholders. . .

“I also hope that the management of Amenfiman Rural Bank’s supervisory team will combine its operational culture with the current culture of Akyempim Rural Bank,” he said.

According to him, rural banks are recognized as the most reliable financial institution to pursue the financial inclusion agenda of governments due to their presence in the country’s disadvantaged communities.

The Ghana Rural Bank Association will continue to strengthen its advocacy role to create operational relevance, enhance the rural and community bank engine, preserve collaboration with ARB APEX BANK and banking industry stakeholders to improve operational efficiency, he added. .

Source: GNA

Share this with more people!

[ad_2]