ALL POSTS FILED UNDER: BOG
BoG outlaws deposit mobilisation fees, threatens to sanction erring banks
Add a CommentThe Bank of Ghana (BoG) has directed banks and other specialised deposit-taking institutions (SDIs) to stop paying fees and commissions to agents in return for the mobilisation of wholesale deposits from the general public. It said the practice had the … Read more →
BoG rejects EIU projection Ghana cedi will hit ¢6 to the dollar
Add a CommentGovernor of the Bank of Ghana has downplayed projections from London based Economists Intelligence Unit (EIU) that the Ghana cedi could witness another round of serious depreciation in the coming months. Dr. Ernest Addison said, “I don’t think that these … Read more →
BoG to get tough on currency import, export violators
Add a CommentThe Bank of Ghana (BoG) has warned of severe consequences for persons who flout its rules concerning the importation and exportation of foreign currencies. In an announcement to the public, the central bank stated that it has powers under the … Read more →
BoG keeps policy rate at 17%
Add a CommentThe Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has maintained the Policy Rate at 17 per cent for the fourth consecutive time in 2018.The Governor of the BoG and Chairman of the MPC, Dr. Ernest Addison, told … Read more →
BoG collapses 5 banks into Consolidated Bank Ghana Ltd
Add a CommentThe Bank of Ghana has merged five banks into a Consolidated Bank of Ghana Limited. The banks are BEIGE, Sovereign, Construction, UniBank and Royal Bank. It follows the insolvency of the four banks after investigations by Bank of Ghana. The … Read more →
BoG Capital Requirement: 3 More Banks To Go
Add a CommentAt least three local banks are likely to cease to be in operations today as the Bank of Ghana readies to announce banks that have been unable to meet its new minimum capital requirement of GHC400 million. According to sources, … Read more →
Mobile Banking transactions jump by 320.1% in 2017 – BoG
Add a CommentThe value of Internet Banking transactions showed an increase of 43.66 per cent to GH?9.74 billion in 2017 compared with the 2016 position of GH?6.78 billion. Of this amount, the value of Mobile Banking transactions was GH?1.50 billion in 2017. … Read more →
BoG pegs reference rate at 16.82%
Add a CommentThe Central Bank has pegged the Ghana Reference Rate for April 2018 at 16.82 percent. This was after the Bank of Ghana (BoG), in consultation with the Ghana Association of Bankers, reconstituted a working group to review the existing base … Read more →
BoG cuts policy rate by 200 basis points
Add a CommentThe Bank of Ghana (BoG) has reduced the benchmark interest rate by 200 basis points to 18 per cent, the biggest drop since November 2014. The bank cited decline in prices, good growth prospects and a downward migration of money … Read more →
BoG: uniBank is insolvent despite GH¢2.2 billion liquidity support
Add a Comment-Despite GH¢2.2 billion liquidity support from BoG in past 2 years The Bank of Ghana (BoG) has declared indigenous bank uniBank Ghana Limited as insolvent, and has announced the appointment of international accounting firm KPMG as the official administrator for … Read more →
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