President Akufo-Addo in a group photograph with the Deposit Protection Scheme Board Members.<\/strong><\/p>\nPresident Nana Addo Dankwa Akufo-Addo has inaugurated the newly
\nconstituted Ghana Deposit Protection Corporation (GDPC), with a charge to work
\nhard to safeguard the savings of Ghanaians in the numerous financial
\ninstitutions.<\/p>\n
The task comes on the heels of the banking crisis that hit the
\ncountry, leading to the introduction of major reforms in the banking and
\nfinance sector, including the revocation of licence of some insolvent banks and
\nother financial institutions.<\/p>\n
\u201cThe work that it is meant to do goes to the heart of the crisis
\nthat has engulfed the banking sector of our country, so important
\nresponsibilities are being imposed on you,\u201d the President told the board which
\nis chaired by the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison,
\nafter administering the Oaths of Office and Secrecy to members of the
\nseven-member board.<\/p>\n
Other members of the board include Pearl Ena-Mensah, the Chief
\nExecutive Officer of the Ghana Deposit Protection Corporation; Sampson Akligoh,
\nRepresentative of the Ministry of Finance, and Rev. Mrs. Patricia Sapporo,
\nRepresentative of the Chartered Institute of Bankers.<\/p>\n
The rest are Joseph Hyde Jnr, Representative of the Association of
\nGhana Industries (AGI); George Amissah Jnr., Representative of the Ghana Bar
\nAssociation (GBA), and Dr. Daniel Seddoh, Representative of the Institute of
\nChartered Accountants Ghana (ICA).<\/p>\n
Dr. Addison, for his part, assured the President that the board
\nwould be \u201crelentless in driving the GDP to be a key pillar in securing
\nfinancial stability in Ghana.\u201d<\/p>\n
\u201cThe Board of the Ghana Deposit Protection Corporation is up to the
\ntask of building an effective, credible and strong Deposit Protection Scheme
\nfor Ghana to achieve the corporation\u2019s principal objective of supporting the
\ndevelopment of a safe, sound, efficient and stable market-based
\nfinancial system in Ghana,\u201d he pledged.<\/p>\n
About GDPS<\/strong><\/p>\nThe Ghana Deposit Protection Scheme (GDPS) was established by the
\nGhana Deposit Protection Act, 2016, Act 931, as amended by the Ghana Deposit
\nProtection (Amendment) Act, 2018, (Act 968). <\/p>\n
The scheme seeks to protect a small depositor from loss incurred by
\nthe depositor as a result of the occurrence of an insured event.<\/p>\n
The GDPS was conceived based on feasibility studies conducted in the year 2012, and with collaboration between the BoG and the Government of Ghana. <\/p>\n
By Charles Takyi-Boadu, Presidential Correspondent <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"President Akufo-Addo in a group photograph with the Deposit Protection Scheme Board Members. President Nana Addo Dankwa Akufo-Addo has inaugurated the newly constituted Ghana Deposit Protection Corporation (GDPC), with a charge to work hard to safeguard the savings of Ghanaians in the numerous financial institutions. The task comes on the heels of the banking crisis […]<\/p>\n","protected":false},"author":1,"featured_media":746678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-746677","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics"],"yoast_head":"\n
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President Nana Addo Dankwa Akufo-Addo has inaugurated the newly constituted Ghana Deposit Protection Corporation (GDPC), with a charge to work hard to safeguard the savings of Ghanaians in the numerous financial institutions. 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