You are here: HomeBusiness2018 08 22Article 678564

Business News of Wednesday, 22 August 2018

Source: citibusinessnews.com

Citi FM, Danquah Institute forum to discuss collapse of banks

The Danquah Institute, a public policy research centre, in collaboration with Citi FM will today host a special panel discussion at Alisa Hotel to look at the recent collapse of banks in the country.

Special guest of honour will be the Finance Minister, Ken Ofori-Atta.

The forum which will be moderated by Citi FM’s Bernard has the theme “THE BANKING SECTOR CLEAN UP – ARE DEPOSITORS SAFE?”. The programme will start at 10am.

Other distinguished persons who will be part of the panel are a Deputy Minister of Finance, Charles Adu-Boahen, Head of Chambers, Kasser Law Firm and Lecturer at GIMPA, Clara Kasser-Tee, Senior Lecturer and Economist, Dr. Eric Osei-Assibey and Head Consultant and CEO of EBEN Consultancy, Accra, Dr Ebenezer Ashley.

Explaining the object of the programme, the immediate past Executive Director of the Danquah Institute Dr. Kingsley Nyarko stated that it is important to assure depositors of the safety of their funds.

Banking sector challenges

Ghana’s banking sector has in recent times faced serious challenges leading to the revocation of seven banking licenses.

As Ghanaians continue to express grave concerns about the loss of jobs and livelihoods, a growing number of citizens are calling for those responsible for allegedly abusing public funds, depositors’ monies and trust to be prosecuted without fear or favour.

Government’s decision to rescue the affected banks from collapse — by getting the Ghana Commercial Bank (GCB) to take over the first two and merging the second batch of five banks to form the Consolidated Bank Ghana — has been described as responsible and positive.

What appears missing in the conversation, however, is the depositor. Are the customers of the seven banks safe? How do we protect the depositor and rebuild public confidence in the financial services sector in Ghana?. Dr. Nyarko outlines what the forum is intended to achieve.