Allow Banks to disburse funds according to rules-Mensah

Biriwa, (C/R) Oct. 24, GNA- Customers whose finances or other assistance packages, especially those from politicians are channelled through Banks, should allow the financial institutions to disburse the packages according to established regulations. Mr. Peter Mensah, manager of Mfantseman Community Bank, who gave the advice, said even though Banks would continue to serve their customers in any capacity, they would not compromise banking regulations.

He was commenting on impatience of some customers whose packages were channelled through the Community Bank in an interview with GNA, at Biriwa in the Mfanteman District.

Mr. Mensah said it was unfortunate that some customers wanted their money or inputs to be disbursed to them as soon the Banks received them. He explained that since the banks would be held responsible for the payment of such money in case of default, it was important to establish the identity and credibility of beneficiaries.

Mr Mensah cited that the cost of inputs supplied to fishermen and farmers through banks were debited against the accounts of the banks when beneficiaries defaulted, and the banks had to chase them, most of whom had migrated to other parts of the country. Mr. Peter Akanyuare Project Officer of the Community Bank, appealed to politicians to educate people they wanted to help to exercise patience with the banks in the disbursement of packages. He asked politicians to explain to the people that the packages were to assistance repayable to enable others enjoy the packages.