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BoG To Increase Minimum Capital For Banks

The Bank of Ghana (BoG) has set up a technical committee to advice it on new modalities to be used in increasing the minimum capital of banks.

As a result,  he said the recommendations of the committee,  which will include the amount banks should be recapitalised to, was expected later this year to serve as basis for a new phase of recapitalisation for banks operating in the country.

Currently, banks in the country are expected to hold a minimum of Ghc60 million as stated capital with new entrants expected to bring Ghc100 million.

Dr Issahaku said the earlier review showed that amount was disingenuous to economic development.

As a result, he said the recapitalisation was expected to ensure that banks were well positioned to finance big ticket transactions in and outside of the country.

 

Source: radioxyzonline.com

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