{"id":683819,"date":"2019-08-16T23:48:37","date_gmt":"2019-08-16T23:48:37","guid":{"rendered":"<br><div>\n<p>The Bank of Ghana has revoked the licenses of <span style=\"text-decoration: underline; color: #666699;\"><strong>23 insolvent savings and loans companies<\/strong><\/span> and finance houses with immediate effect from today, Friday 16th August, "},"modified":"2019-08-16T23:48:37","modified_gmt":"2019-08-16T23:48:37","slug":"list-of-savings-loans-companies-finance-houses-whose-licenses-have-been-revoked","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/16\/list-of-savings-loans-companies-finance-houses-whose-licenses-have-been-revoked\/","title":{"rendered":"List of savings &#038; loans companies, Finance houses whose licenses have been revoked"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Bank of Ghana has revoked the licenses of <span style=\"text-decoration: underline; color: #666699;\"><strong>23 insolvent savings and loans companies<\/strong><\/span> and finance houses with immediate effect from today, Friday 16th August, 2019.<\/p>\n<p>BoG in the statement explained that the actions \u201cwere taken pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires the Bank of Ghana to revoke the licence of a Bank or Specialised Deposit-Taking Institution (SDI) where the Bank of Ghana determines that the institution is insolvent.\u201d<\/p>\n<p>The central bank in a statement on Friday said the revocation of the licences of these institutions had become necessary because they were insolvent even after they were given a reasonable period of time to recapitalize.<\/p>\n<blockquote>\n<p>\u201cIt is the Bank of Ghana\u2019s assessment that these institutions have no reasonable prospects of recovery, and that their continued existence poses severe risks to the stability of the financial system and to the interests of their depositors,\u201d the statement added.<\/p>\n<\/blockquote>\n<p>GN Savings and Loans, Ideal Finance, Accent Financial Services, uniCredit Ghana Limited were all affected.<\/p>\n<p><strong>Below is the full list of the affected companies:\u00a0<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-542617\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/08\/download-2.jpg\" alt=\"Licenses revoked \" width=\"705\" height=\"588\"  \/><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana has revoked the licenses of 23 insolvent savings and loans companies and finance houses with immediate effect from today, Friday 16th August, 2019. BoG in the statement explained that the actions \u201cwere taken pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":683820,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-683819","post","type-post","status-publish","format-standard","has-post-thumbnail","category-lifestyle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>List of savings &amp; loans companies, Finance houses whose licenses have been revoked - 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\/16\/list-of-savings-loans-companies-finance-houses-whose-licenses-have-been-revoked\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"List of savings &amp; loans companies, Finance houses whose licenses have been revoked - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The Bank of Ghana has revoked the licenses of 23 insolvent savings and loans companies and finance houses with immediate effect from today, Friday 16th August, 2019. 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