Community Banks Face GH¢5M Capital Pressure Under New BoG Rules | News Feed
#BankOfGhana #CommunityBanks #Microfinance #GhanaFinance #FinancialSector #SolomonAmankwah #GhanaNews #ChannelOneNews
The Association of Community Banks says its members have begun steps to comply with timelines under the Bank of Ghana's revised microfinance sector framework, as Rural and Community Banks transition into Community Banks.
However, the association has expressed concern that some institutions may struggle to meet the new GH¢5 million minimum capital requirement within the stipulated period.
Speaking on the issue, Executive Director Solomon Amankwah noted that while members are committed to the reforms, the capital threshold presents significant challenges for weaker institutions within the sector.
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