Supervisory institution for rural and community banks says Bank of Ghana will not descend on rural, community banks

 The supervisory institution for rural and community banks in Ghana, ARB Apex Bank has revealed that the Bank of Ghana (BoG) will not “descend” on Rural and Community Banks (RCBs) as is being maliciously circulated.

Managing Director of Apex Bank, Kojo Mattah
  • ARB Apex Bank says Bank of Ghana will not descend on rural and community banks.
  • This the bank said is because the bank of Ghana has completed the clean-up exercise in the financial sector.
  • Rural and community banks are hence advised to ignore some maliciously reports that the BoG will descend on rural, community banks.

This, according to the mini central bank is because the BoG has completed the clean-up exercise in the financial sector.

The ARB Apex Bank disclosed the information in a press statement it released and was signed by the Managing Director of Apex Bank, Kojo Mattah.

The statement said, “A malicious audio message circulating on social media platforms including WhatsApp purporting that Bank of Ghana has plans to withdraw the licences of some operating Rural and Community Banks (RCBs) has no basis.”

Read below the full press release

A malicious audio message circulating on social media platforms including WhatsApp purporting that Bank of Ghana has plans to withdraw the licences of some operating Rural and Community Banks (RCBs) has no basis.

Rather, the Bank of Ghana in a Notice dated 16 August 2019 made it clear that RCBs are key in its financial inclusion agenda and therefore will work with the ARB Apex Bank to reposition the rural and community banking sector to enable them to better support rural economic development.

The general public and the teaming customers of RCBs are advised to ignore the malicious message and do business with the RCBs.

The Bank of Ghana has completed the clean-up exercise and will NOT “descend” on RCBs as is being maliciously circulated.

SIGNED

KOJO MATTAH

MANAGING DIRECTOR

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