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General news for Monday, October 5, 2020
Source: www.ghanaweb.com
2020-10-05
Minister for Foreign Affairs, Shirley Ayorkor Botchwey
The Ghanaian Embassy in Belgium has been ordered to close all four accounts with its bankers, the ING Bank no later than November 12, 2020.
The embassy located in Brussels has four main accounts with the aforementioned bank, namely; Main account in euros, a checking account; Main account in euros, a business account; Special collections account; and the Retention Fund account, which is used for funds generated internally by the embassy.
ING Bank’s order means that the Embassy has until the indicated date to close the four accounts and open news accounts at a different bank where all funds will be transferred later.
According to a report by investigative journalist Manasseh Azure Awuni, the directive comes after alleged financial misconduct at the embassy.
However, the Ghanaian Foreign Minister and Ambassador to Belgium have vehemently refuted this accusation.
Ambassador Sena Siaw Boateng insisted that due to the cashless nature of operations in Belgium, all financial expenses could be traced, making it hardly possible for any individual or group to engage in financial misconduct.
Foreign Minister Shirley Ayorkor Botchwey also said that based on investigations carried out so far, the reason for the bank’s decision could be the result of a recent blacklist of Ghana and some other African countries by the EU on the basis of non-compliance with money laundering. and terrorist financing regulations.
However, his team’s attempts to reverse ING Bank’s decision have proved futile.
ING Bank, on the other hand, has indicated that its decision was based on Article 59 of the Bank’s General Regulations. Said article says;
“Without prejudice to the provisions of specific agreements or regulations, in particular the Special Regulations for Payment Operations, for the Operations and services covered by these Regulations, both the Client and ING may, without having to justify their decision, totally or partially rescind of the commercial relationship that they have established, subject, where appropriate and at the request of the other party, to compensation for any loss suffered as a result of it, which the other party must substantiate. The party wishing to terminate its business relationship shall notify the other party of its decision in writing … “
Meanwhile, Shirley Ayorkor Botchwey has indicated that steps have already been taken in collaboration with the Comptroller and Accounting Department to secure the opening of a new account elsewhere.
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