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\n<\/div>\nA member of the Minority Caucus in Parliament has belittled the much-touted banking sector reforms by the Bank of Ghana.<\/span><\/p>\n According to Isaac Adongo, the supposed reforms in the manner it was carried out was not necessary. <\/span><\/p>\n <\/p>\n Speaking at a lecture on Ghana\u2019s economy – organised by the Coalition for Restoration in Accra – he said the BoG could have supported the banks instead of collapsing them.<\/span><\/p>\n The National Democratic Congress (NDC) legislator also faulted the process used by the New Patriotic Party (NPP) superintended BoG.<\/span><\/p>\n <\/p>\n He said when the NDC wanted to introduce some sanity in the banking sector, they introduced a GH\u00a2230 million minimum capital.<\/span><\/p>\n \u201cWe however, agreed that not all banks need the same capital,\u201d Adongo recounted.<\/span><\/p>\n He said after setting the GH\u00a2230 million base, they agreed to work with the individual banks to determine level of risk and then determine minimum their minimum capital.<\/span><\/p>\n He said that was done so Ghana\u2019s banking sector could have small and big banks \u201coperate in a risk-free environment.\u201d<\/span><\/p>\n <\/p>\n \u201cWe call that Internal Capital Assessment project which will enable us to hand-hold the banks out of their challenges and not collapse them at the least excuse,\u201d Adongo noted.<\/span><\/p>\n He said when the NPP took over, all they were determined to do was to collapse the struggling banks. \u201cThey introduced a minimum capital of GH\u00a2400 million and they could not wait for the deadline to come.\u201d<\/span><\/p>\n He added that the constant reminder of the deadline caused some panic withdrawals which further weakened struggling banks.<\/span><\/p>\n <\/p>\n