{"id":670876,"date":"2019-08-03T10:42:58","date_gmt":"2019-08-03T10:42:58","guid":{"rendered":" <br><div data-io-article-url=\"https:\/\/www.adomonline.com\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/\">\n            <div class=\"td-post-featured-image\"><figure><img width=\"696\" height=\"467\" class=\"entry-thumb td-modal-image\" src"},"modified":"2019-08-03T10:42:58","modified_gmt":"2019-08-03T10:42:58","slug":"planned-shutdown-of-some-troubled-savings-and-loans-companies-looming","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/","title":{"rendered":"Planned shutdown of some &#8216;troubled&#8217; Savings and Loans companies looming"},"content":{"rendered":"<p><\/p>\n<div data-io-article-url=\"https:\/\/www.adomonline.com\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/\">\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"467\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/08\/bog_boss_ernest-696x467.jpg\"   alt=\"\" title=\"bog_boss_ernest\"\/><figcaption class=\"wp-caption-text\">Dr Ernest Addison, BoG Governor<\/figcaption><\/figure>\n<\/div>\n<p>The Bank of Ghana (BoG) would in coming weeks move in to \u201cclose down\u201d some\u00a0\u201ctroubled\u201d Savings and loans companies that are facing \u201cserious\u201d financial challenges.<\/p>\n<p>This is based on some engagements that central bank have had with the these institutions over their \u201cworsening\u201d financial position;\u00a0which has necessitated the\u00a0regulator\u00a0taking action.<\/p>\n<p><strong>Bank of Ghana\u2019s meeting with \u201ctroubled\u201d institutions\u00a0<\/strong><\/p>\n<p>JoyBusiness\u00a0has gathered\u00a0that on July 10, BoG\u00a0engaged\u00a0about 15\u00a0institutions on their worsening \u201cliquidity position\u201d\u00a0and were advised to put in measures to deal with their \u201cimpaired capital position\u201d.<\/p>\n<p>The shareholders of these institutions were also asked to quickly move to deal with their capital challenges.<\/p>\n<p>Sources say they were given a two months deadline\u00a0to deal with the situation \u2013 expiring\u00a0July 25 \u2013\u00a0or the Bank of Ghana takes action.<\/p>\n<p>After the\u00a0said engagement, BoG has also sat down with the affected companies individually to discuss\u00a0their current financial position.\u00a0<\/p>\n<p><strong>Source: JoyBusiness<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr Ernest Addison, BoG Governor The Bank of Ghana (BoG) would in coming weeks move in to \u201cclose down\u201d some\u00a0\u201ctroubled\u201d Savings and loans companies that are facing \u201cserious\u201d financial challenges. This is based on some engagements that central bank have had with the these institutions over their \u201cworsening\u201d financial position;\u00a0which has necessitated the\u00a0regulator\u00a0taking action. Bank [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":670877,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-670876","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Planned shutdown of some &#039;troubled&#039; Savings and Loans companies looming - 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\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Planned shutdown of some &#039;troubled&#039; Savings and Loans companies looming - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison, BoG Governor The Bank of Ghana (BoG) would in coming weeks move in to \u201cclose down\u201d some\u00a0\u201ctroubled\u201d Savings and loans companies that are facing \u201cserious\u201d financial challenges. This is based on some engagements that central bank have had with the these institutions over their \u201cworsening\u201d financial position;\u00a0which has necessitated the\u00a0regulator\u00a0taking action. Bank [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/bog_boss_ernest.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/03\\\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/08\\\/03\\\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Planned shutdown of some &#8216;troubled&#8217; 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This is based on some engagements that central bank have had with the these institutions over their \u201cworsening\u201d financial position;\u00a0which has necessitated the\u00a0regulator\u00a0taking action. Bank [&hellip;]","twitter_image":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/bog_boss_ernest.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Written by":"Ghana News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"headline":"Planned shutdown of some &#8216;troubled&#8217; Savings and Loans companies looming","datePublished":"2019-08-03T10:42:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/"},"wordCount":167,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/bog_boss_ernest.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/","url":"https:\/\/www.ghanamma.com\/2019\/08\/03\/planned-shutdown-of-some-troubled-savings-and-loans-companies-looming\/","name":"Planned shutdown of some 'troubled' Savings and Loans companies looming - 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