Business News of Friday, 8 June 2012
About 30 banks including the Agricultural Development Bank (ADB) and some financial institutions face a massive law suit for illegally using pirated banking software - Rural Banker Software and E-Finance software - for their operations.
A Commercial High Court, two weeks ago, ruled that a software company, BSL Systems Enterprise, indeed pirated the banking software of original owners Olson Systems (authored by Paul Oliver) and sold it to some rural banks and financial institutions in Ghana.
About 85% of these rural banks and financial institutions are in the Ashanti region while the rest are scattered in Accra and elsewhere.
These institutions have until the end of June, 2012 to either stop using the Rural Banker Software and E-Finance software or face the full rigors of the law.
The lawyer for Olson Systems, Emmanuel Amofa, has told Citi Business News the banks would be dragged to court if they fail to adhere to the court’s directive.
According to Mr. Amofa, “any such rural bank or financial institution using my client’s software, Rural Banker Software and E-Finance software would be in contempt of court and would be infringing on the copyrights of my clients. “
He added: “After 30th June, if these institutions do not revert to my clients to regularise the use of these software, legal actions would be initiated against them.”
The court has ordered that BSL Systems Enterprise should pay about GhC600, 000 to Olson Systems as damages and illegal use of the company’s property plus an extra £35,000.
Below is the list of Rural Banks and financial institutions that could be dragged to court: