{"id":1695,"date":"2018-12-31T23:39:17","date_gmt":"2018-12-31T23:39:17","guid":{"rendered":"https:\/\/www.aptnewsghana.com\/?p=1695"},"modified":"2018-12-31T23:39:24","modified_gmt":"2018-12-31T23:39:24","slug":"five-banks-to-loose-licenses","status":"publish","type":"post","link":"https:\/\/www.aptnewsghana.com\/index.php\/2018\/12\/31\/five-banks-to-loose-licenses\/","title":{"rendered":"Five Banks to loose licenses"},"content":{"rendered":"\n

At\n least five commercial banks in the country could lose their universal \nbanking licenses later this week as the December 31 deadline to meet the\n new capital requirement draws to a close. <\/p>\n\n\n\n

The\n Bank of Ghana raised the new capital requirement to GH\u00a2400 million this\n year as part of firm measures to create a robust banking sector.<\/p>\n\n\n\n

However,\n as at the close of work Friday, December 28 some had not met the new \ncapital levels despite some last-minute manoeuvres, according to persons\n close to the regulator.<\/p>\n\n\n\n

Second Deputy Governor of the Bank of Ghana, Elsie Awadzi, has, however, revealed that 20 banks have met the capital requirement.<\/strong><\/a><\/p>\n\n\n\n

Joy\n Business Editor, George Wiafe, reports that the five banks at the brink\n of losing their operating licenses \u201care strongly lobbying for \nlast-minute government intervention.\u201d<\/p>\n\n\n\n

Meanwhile,\n Graphic Online is reporting that the government is set to announce a \nGH\u00a22 billion bailout package for some six indigenous banks to enable \nthem to meet the recapitalisation deadline.<\/p>\n\n\n\n

\u201cThe\n package was hurriedly put together this month for the six, which are \nseen as well-governed, solvent but unable to meet the BoG GH\u00a2400 million\n new minimum capital for banks on their own, multiple sources familiar \nwith the arrangement have told Graphic Online,\u201d the online portal \nreported, Monday.<\/p>\n\n\n\n

\u2018Compliance is the order of the day\u2019<\/strong><\/p>\n\n\n\n

However, Economist\n at the University of Ghana Business School, Prof Godfred Bokpin, has \nsaid the central bank has remained firm on the December 31, 2018 ruling \nout the possibility of a last-minute bailout for banks struggling to \nraise the new capital level.<\/p>\n\n\n\n

\u201dCompliance is the order of the day,\u201d he said Monday.<\/p>\n\n\n\n

He \nadded: \u201cIt is a bit too late for us to be in the last working day of \n2018 and we are wondering which bank has met the requirement which bank \nhas not. I think there should have been an earlier statement a week ago \nor so clarifying all these issues.\u201d<\/p>\n\n\n\n

He said by not issuing a clear statement about the banks that have met the requirement, the central bank risks causing panic in the sector.<\/p>\n\n\n\n

credit: myjoyonline.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

At least five commercial banks in the country could lose their universal banking licenses later this week as the December 31 deadline to meet the […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8],"tags":[337,55],"class_list":["post-1695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-banking","tag-bog"],"yoast_head":"\nFive Banks to loose licenses - Apt News Ghana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.aptnewsghana.com\/index.php\/2018\/12\/31\/five-banks-to-loose-licenses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Banks to loose licenses - 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