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Business News of Sunday, 29 March 2020

Source: Class FM

Coronavirus: Use skeletal staff - BoG tells banks


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The Bank of Ghana is urging Banks, Savings and Loans Companies, Finance Houses, Rural and Community Banks, Microfinance Institutions and Forex Bureaux to trigger their business continuity plans with minimum number of staff to ensure their doors are open to the general public during the partial lockdown of Greater Accra region and Greater Kumasi.

The Central Bank also wants functionality of all Automated Teller Machines (ATMs), electronic channels and all payment platforms.

This follows a clarification by the Office of the President that all banks and financial institutions will be opened.

In a statement, the Central Bank also reiterated its earlier advice that financial institutions observe all health and safety protocols as advised by the Government of Ghana, the Ministry of Health, the Ghana Health Service and other relevant authorities, in relation to the COVID-19 Pandemic.

It advised the general public against panic withdrawals but called for the observation of all health and safety protocols put in place by the financial institutions [Banks, Savings and Loans Companies, Finance Houses, Rural and Community Banks, Microfinance Institutions and Forex Bureaux].

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