{"id":449996,"date":"2017-12-25T11:42:57","date_gmt":"2017-12-25T11:42:57","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/12\/25\/no-licence-for-new-banks-bank-of-ghana\/"},"modified":"2017-12-25T11:42:57","modified_gmt":"2017-12-25T11:42:57","slug":"no-licence-for-new-banks-bank-of-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/12\/25\/no-licence-for-new-banks-bank-of-ghana\/","title":{"rendered":"No licence for new Banks &#8211; Bank of Ghana"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday, 25 December 2017<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>primenewsghana.com<\/p>\n<p>2017-12-25<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/07\/88002897.295.jpg\" alt=\"Bank Of Ghana1\" title=\"Bank Of Ghana1\" width=\"295\" height=\"195\" \/><span class=\"image_caption\"><span>The decision is to prevent entry of new banks with a low capital requirement<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/1514202177_120_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\"> The Bank of Ghana (BoG) has given an indication that it may not license new banks in 2018.<\/p>\n<p>According to the central bank, the move is to help facilitate strict measures to implement the new capital requirement of 400 million cedis in 2018.<\/p>\n<p>Speaking at an event in Accra, the Governor of the Bank of Ghana, Dr Ernest Addison explained that the decision is to prevent entry of new banks with a low capital requirement.<\/p>\n<p>Adding that, the decision will afford the central bank time to carefully monitor financial institutions as most of them are expected to meet their new capital requirement next year.<\/p>\n<p>\u201cTo rationalize the banking system to ensure efficiency, we are considering not licensing new banks, savings and loans, or microfinance institutions during the next year, as we implement the recapitalization plans of existing banks\u201d.<\/p>\n<p>He explained that \u201cWe should not allow the potentially insolvent banks to enter the industry, adding that \u201cWe need to manage entry to ensure that, down the line, we do not then have to manage exit as we did this year\u201d.<\/p>\n<p>Dr Addison was of the view that the move will equip the regulator to adequately evaluate the financial sector to identify specific areas that require special attention to achieve government\u2019s transformational agenda. \u201cThis will help us to ensure solvency and stability in the banking sector at the end of the reform process,\u201d he said.<\/p>\n<p>He also noted that the Bank of Ghana will also use the opportunity to announce a new licensing regime for the financial sector to protect customers\u2019 deposits.<\/p>\n<p>\u201cThe Bank of Ghana will introduce a new licensing regime that will align with the overall financial sector landscape to deliver a strong, solid, well capitalized and geographically diverse financial landscape. That is the vision to support the government\u2019s transformational agenda,\u201d he assured.<\/p>\n<p><!-- uploaded by: 63 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 25 December 2017 Source: primenewsghana.com 2017-12-25 The decision is to prevent entry of new banks with a low capital requirement The Bank of Ghana (BoG) has given an indication that it may not license new banks in 2018. According to the central bank, the move is to help facilitate strict measures [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":401389,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-449996","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>No licence for new Banks - Bank of Ghana - Ghanamma.com<\/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.ghanamma.com\/2017\/12\/25\/no-licence-for-new-banks-bank-of-ghana\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"No licence for new Banks - Bank of Ghana - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Monday, 25 December 2017 Source: primenewsghana.com 2017-12-25 The decision is to prevent entry of new banks with a low capital requirement The Bank of Ghana (BoG) has given an indication that it may not license new banks in 2018. 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