Channel common funds and other funds through rural banks - Dr Aubyyn
5/13/2012 7:30:24 PM -
Manso Amenfi (W/R), May 12, GNA - Dr Toni Aubyyn, Chairman of the Board of Directors of the Amenfiman Rural Bank Limited, has inaugurated the Manso Amenfi branch of the bank.
He appealed to the Ministry of Local Government and Rural Development to consider channeling the District Assemblies Common Fund and other funds to the rural banks for disbursement to the assemblies.
Dr Aubyyn, who is also the Chief Executive Officer of the Ghana Chamber of Mines, said the appeal should be seriously considered because activities of rural banks are directly linked to the development aspirations of the masses in rural communities.
He said it is worrying that in some districts where rural banks are the only financial institutions, District Assemblies Common Fund are channeled through endowed commercial banks in the cities and the people have to travel several miles to withdraw funds for their activities.
Dr Aubyyn said customers of the bank at Enchi, Samreboi, Asankrangwa, Manso Amenfi, Bawdie, Prestea and Wasa Akropong have been victims of armed and highway robbery in the area especially on the main Enchi-Kumasi road and this has resulted in loss of substantial amounts of money and in some cases death.
He said management of the bank is seriously working with the Bank of Ghana to open a branch at Santasi in Kumasi to facilitate business activities of customers following an appeal by those in areas characterized by armed and highway robbery.
Dr Aubyyn said the bank is well positioned and resourced to deliver the essential banking services necessary to accelerate the socio-economic development of the people of Manso Amenfi in particular and the country as a whole.
He said the focus of the bank is mainly on the informal sector which has been neglected by the well endowed banks and the bank's strategy is to bring innovative first class banking to the doorsteps of customers.
Dr Aubyyn said the bank is currently providing bursaries and scholarships to many needy students in second cycle institutions within Wassa Amenfi and elsewhere in the country as part of its corporate social responsibility.
He said funds are also devoted annually to support education, health, farming and Farmers Day Celebrations.