Meet all deadlines on banking regulations- Deputy Minister advices financial institutions

THE Deputy Minister of Finance Mr Seth Terkper has encouraged banks and all financial institutions to act swiftly in meeting all the regulations and deadlines set by the Bank of Ghana.
He said this would position the country to meet the challenges of the finacial crisis and find solution to the meltdown should it hit the shores of the country.
Speaking at the launch of the first-ever three-day banking fair organised by Stanbic Bank in Accra last Thursday, Mr Terkper said the country was going through some micro-economic instability but the government would adopt the best policies and measures to ensure that the country was placed on a sound footing to promote growth and prosperity in the economy.
“The government is committed to building a vibrant private sector knowing that once that sector is encouraged to grow it will not only expand by creating job opportunities for the people of this country but will also contribute to improving the standard of living our people whilst contributing to our GDP”, he stated.
Mr Terkper commended Stanbic bank for its $100 million facility support for peasant farmers in Ghana and three other African countries to improve productivity, increase income and to alleviate poverty.
He said the fair was timely because it would afford both individuals and the business community the opportunity to experience a more direct and personal discussion of their banking requirements with the bank in order to get the best advice for their financial and business concerns.
“This initiative by Stanbic will also renew confidence in the banking system as an integral intermediary in our financial system,” he added and expressed optimism that the fair could also reduce the low understanding of what banks offered and the inability of banks to tailor their services and products to meet the needs of the public.
Some of the products and services on display at the fair which received high patronage by some members of the media, business executives, and the general public included an Internal banking and mobile top up stand, E-zwich, Investment banking, Personal lending, Transnational and Saving Product, Global Transactional banking and Custody Services.
Guests at the fair had an opportunity to conduct banking businesses, open accounts, and held discussions on vehicle and asset financing as well as received corporate banking solution after the launch of a new product known as ‘new Business online (nBol).
The new product nBol is a single online platform with a single point of entry for clients to perform multiple functions across Africa.
The Managing Director of Stanbic Bank, Mr Alhassan Andani said the bank since its commencement of business in Ghana, had 22 branches and 460 employees.
He said the theme for the fair, “Money Matter” was chosen to demystify banking and to get their services closer to their customers and prospective ones.