Intercontinental Bank outdoors two products

Accra, March 19, GNA -Intercontinental Bank Ghana Limited on Wednesday introduced two products, I-Cash and IBG Auto Promo, onto the financial market, as part of efforts to attain customer satisfaction. The I-Cash is an instant money transfer service designed to help travellers and traders in Nigeria and Ghana to remit funds to meet their financial obligation using the Bank's branches in the respective countries.

The IGBG Auto Promo is a 14-week promotional package offering individuals and corporate entities the opportunity to own brand new vehicles paying five per cent as initial deposit with a maximum tenure of five years.

At the launch, Mr Albert O. Mmegwa, Director and Chief Executive Officer of the Bank, said I-Cash would offer customers financial flexibility needed for their day-to-day businesses. He said the I-Cash, which would soon be extended to include other countries in the sub-region, would have unique features of securing cash, same day delivery, lower cost of transfer and easier means of sending money within the sub-region. Mr. Mmegwa said the Bank had put in protective measures to ensure that the service was not abused for illegal transactions such as money laundering.

"All transactions originating from any of our branches will be subject to control checks to avoid regulatory contraventions." He expressed the hope the I-Cash product would facilitate regional integration, boost intra-regional trade and provide solutions to challenges that impeded smooth business transactions. Mr. Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning, in a speech read on his behalf commended the Bank for the initiative and asked them to continue to work hard to build on its successes. "It is refreshing to observe the positive response banks are making to ensure dynamism and growth in trade and commerce, both internally and across borders." The Minister said inter-state commerce which was a key development instrument in the United States should be replicated within the sub-region.

Mr. Baah-Wiredu said the initiatives were gratifying considering their prospects in employment generation and breaking trade barriers between Ghana and Nigeria.