The central bank of ghana traces its roots to the bank of the gold the central bank was to act as banker to other banks and co-operate with them to promote and. The bank of ghana recently announced that acting under act 930, it has revoked the operational licenses of 5 banks, on grounds specified by the said act. (1) the bank of ghana in existence immediately before the commencement of this act shall, subject to this act, continue to be in existence as a body corporate with perpetual succession and a common seal and may sue and be sued in its corporate name. The mergers that occurred in the telecommunications sector and financial sector in 2017 are the most significant deals in ghana within 2017 airtel-tigo merger.
The institute for fiscal studies has gathered that as part of the structural reforms to strengthen the country’s public finances and fiscal discipline, the international monetary fund has advised that the bank of ghana act, 2002 be amended. Lawyers of menzgold ghana company limited an indigenous ghanaian gold firm, are now on the heels of the bank of ghana (bog), chasing its officials to come clean on its accusation that, the minerals company, has been posing as a commercial bank and collecting cash deposits from the public. Acts of the first republic agricultural development credit and co-operative bank act, 1965, act 286 ghana contract act, 1960, act 25 ghana book and newspaper registration act, 1961, (act 73).
The ghana banking crisis that has been simmering for more than five years now but was being treated as though it would correct itself has started blowing up with the announcement today of the take-over of a commercial bank, unibank ghana ltd, by the central bank. Banks and specialised deposit-taking institutions act, 2016 (act 930) download pdf version bank of ghana (amendment) act, 2016 (act 918) download pdf version. The foreign account tax compliance act (fatca) stanbic bank ghana limited is a financial services provider licensed by bank of ghana and securities and exchange. Act 612 bank of ghana act, 2002 the six hundred and twelfth act of the parliament of the republic of ghana entitled bank of ghana act, 2002 an act to amend and consolidate the law relating to the. Accra, june 1, gna - the export trade, agricultural and industrial development fund (edaif) act 2013 (act 872) has been repealed following the coming into force of the ghana export-import bank (exim) act, 2016 (act 911.
Gexim is a creation of law it was established by the ghana export-import bank act 2016 (act 911) the ghana export-import bank (gexim) has been launched to bolster the government of ghana’s quest for an aggressive and sustainable export-led economy. In this act, unless the context otherwise requires, auditor-general includes an auditor appointed by the auditor-general bank means the bank of ghana continued in existence by section 1. Section 107 of act 930 empowers the bank of ghana to appoint an official administrator to take official control of a bank when its capital adequacy ratio.
The bank of ghana act, 2002 (act 612) outline 1 introduction 2 purpose of the act 3 administration of the bank 4 objects and functions of the bank of ghana. Ghana exim bank, goc building, ridge accra [email protected] +233 302234668/9. Borrowers and lenders act, 2008 act 773 of this act examination by bank of ghana 9(1) the bank may examine the books, accounts, documents and transactions. It currently operates under the bank of ghana act, 2002 (act 612, central banking awards: bank of canada is central bank of the year 24 jan 2018 latest issue.
The bank of ghana has taken steps to restore stability to the sector by requesting a recapitalization plan from banks with the foreign exchange act 2006. Monetary policy committee (mpc) of the bank of ghana (bog) has reduced the policy rate by some significant margin bog dropped its key lending rate to commercial banks by 200 basis points to 18 percent. The bank of ghana (bog) is the central the central bank was to act as banker to other banks and co-operate with them to promote and maintain adequate and. Export-import bank ghana - eximbank ghana, accra, ghana 1k likes the ghana export-import bank (exim) is a body corporate established by the ghana.