Loans without collateral is now possible in Ghana
Aug 20th, 2022
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Business
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5 min read
With less than three months for the bank recapitalization exercise to end, the Bank of Ghana, BoG, has been advised to strengthen its supervisory department to prevent the collapse of commercial banks in the future.
In addition, the bank must implement the deposit insurance scheme to protect citizens who have deposited their monies with the commercial banks with a view to make returns on it.
Speaking exclusively to Goldstreet Business in Accra, Chief Executive Officer, CEO, of XdsData, a credit reference bureau, Mr. George Ahiafor said issues leading to the take-over or consolidation of seven banks in the country could have been detected earlier if the audit and supervisory departments of the apex bank were strengthened and made to work.
Speaking exclusively to Goldstreet Business in Accra, Chief Executive Officer, CEO, of XdsData, a credit reference bureau, Mr. George Ahiafor said issues leading to the take-over or consolidation of seven banks in the country could have been detected earlier if the audit and supervisory departments of the apex bank were strengthened and made to work.
In addition, the bank must implement the deposit insurance scheme to protect citizens who have deposited their monies with the commercial banks with a view to make returns on it.
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