{"id":166467,"date":"2024-03-28T13:05:24","date_gmt":"2024-03-28T13:05:24","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/28\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\/"},"modified":"2024-03-28T13:05:24","modified_gmt":"2024-03-28T13:05:24","slug":"bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/28\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\/","title":{"rendered":"BoG appoints advisor to monitor UMB&#8217;s recapitalization\u00a0efforts"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Bank of Ghana (BoG) has appointed Dr Joseph O. France as a Management Advisor to the Universal Merchant Bank Ltd. (UMB).<\/p>\n<p>Dr. France is the Former Head of Financial Stability at the Bank of Ghana.<\/p>\n<p>His role will involve advising UMB\u2019s management, monitoring its recapitalization efforts, and overseeing governance reforms agreed upon with the Bank of Ghana.<\/p>\n<p>The appointment is in accordance with section 101(1) of the Banks and Specialized Deposit Taking Institutions Act, 2016 (Act 930).<\/p>\n<p>While the advisor will provide regular status reports to the Bank of Ghana, it\u2019s important to note that, unlike an Official Administrator, the advisor does not assume the powers, responsibilities, and duties of UMB\u2019s shareholders, directors, or management.<\/p>\n<p>The Bank of Ghana in a statement assured UMB\u2019s depositors and customers that the bank remains open for business under the control of UMB\u2019s management team.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana (BoG) has appointed Dr Joseph O. France as a Management Advisor to the Universal Merchant Bank Ltd. (UMB). Dr. France is the Former Head of Financial Stability at the Bank of Ghana. His role will involve advising UMB\u2019s management, monitoring its recapitalization efforts, and overseeing governance reforms agreed upon with the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":166469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-166467","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>BoG appoints advisor to monitor UMB&#039;s recapitalization\u00a0efforts - 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\/2024\/03\/28\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG appoints advisor to monitor UMB&#039;s recapitalization\u00a0efforts - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana (BoG) has appointed Dr Joseph O. France as a Management Advisor to the Universal Merchant Bank Ltd. (UMB). Dr. France is the Former Head of Financial Stability at the Bank of Ghana. His role will involve advising UMB\u2019s management, monitoring its recapitalization efforts, and overseeing governance reforms agreed upon with the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/03\/28\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-28T13:05:24+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\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\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"BoG appoints advisor to monitor UMB&#8217;s recapitalization\u00a0efforts\",\"datePublished\":\"2024-03-28T13:05:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/\"},\"wordCount\":153,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/28\\\/bog-appoints-advisor-to-monitor-umbs-recapitalization-efforts\\\/\",\"name\":\"BoG appoints advisor to monitor UMB's recapitalization\u00a0efforts - 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