Tuesday, 15 August 2017

Due to shortage of fundsGhana’s Central Bank revokes the licenses of two banks

Yesterday, Ghana’s Central Bank revoked the licenses of two banks, UT Bank and Capital Bank, which have collapsed due to shortage of funds.

The two banks will continue to operate normally after the transfer is complete later today as they have been taken over by Ghana Commercial Bank and the money that people have in their accounts has been guaranteed to be safe.

According to reports, this latest development is part of measures to restructure the banking sector and protect the funds of depositors in the country.

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