ARB Apex Bank launches Western Union Money Transfer

Kumasi, Sept 8, GNA - The ARB Apex Bank has

launched its version of Western Union Money Transfer and it

will serve as an additional source of revenue for rural and

community banks. Mr Kwadwo Baah-Wiredu, Minister of Finance and

Economic Planning, said at the launch on Saturday that the ARB

Apex Bank should link rural and community banks to other

foreign remittance collaborators and have innovative products

that will attract more remittances. He said Western Union International has rules,

regulations and standards for their business and that rural and

community banks must operate within these parameters. "As we welcome rural banks and the ARB Apex

Bank to the Western Union Money Transfer fraternity, it would

be useful not to abandon our internal control mechanisms". Mr Baah-Wiredu said fraudsters could easily

penetrate the system when they noticed any loopholes and

called on the banks to take full advantage of Western Union

Money Transfer that seeks to offer reliable and efficient service

to rural and urban people. Mr Eric Osei-Bonsu, the Managing Director of the

ARB Apex Bank, said there were up to 226 locations of at least

one branch or agency of each rural and community bank in

Ghana that are accessing Western Union Money Transfers

electronically. He said payments of remittances at these banks and

agencies have been encouraging and in accordance with the

Western Union standards and procedures. Mr Osei-Bonsu said there is a programme to brand

all the locations with Western Union marketing stickers,

directional signs, lighted boxes and many other materials to

make them visible and accessible. 08 Sept 08