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Business News of Sunday, 26 May 2019


GCB Bank backs BoG on special court to prosecute financial cases

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Managing Director of GCB Bank, Ray Sowah has backed the call by the Central Bank for the Chief Justice to establish a special court to deal with financial cases.

He believes such actions if taken will be able to sanitize the banking industry to some extent.

The Governor of the Bank of Ghana, Dr. Ernest Addison urged the Chief Justice to establish special courts to deal with the adjudication of financial cases associated with the financial sector reforms undertaken by the Central Bank.

He asserted that the slow pace at which the Judicial Service handles financial cases is partly to blame for the high non-performing loans in the country.

In an interview with Citi Business News, Managing Director of GCB Bank, Mr. Sowah said he is in support of the Governor’s decision.

“I believe that whatever system is used something needs to be done about dealing with infractions in the financial services system. So whichever way is done, I support it. Nothing being done is a problem, something being done is fine,” he said.

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