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New capital requirement will be enforced – Governor
The Governor of Bank of Ghana Dr Addison said some banks are yet to comply with the current minimum capital requirement but are still functional.
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The Governor of the Bank of Ghana Dr Ernest Kwamina Yedu Addison made this known at the Ghana Economic Forum held in Accra.
Explainer: Regulatory capital is the minimum amount a bank must have in order to operate.
READ ALSO: FDA says Ghana is safe
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Currently, the minimum capital requirement is GHC 120 million.
However, Dr Addison said some banks have still not met the minimum capital requirements but are still functional.
“New capital requirements will be announced. We expect all banks to meet the requirement.”
“Some banks have not met the old requirement but we are not going to allow that going forward. The new requirements will be accompanied with measures to ensure compliance.”
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“We will do this in an orderly manner,” he assured.
Meanwhile, the Managing Director of Barclays Bank Ghana Mrs. Patience Akyianu, said the Bank of Ghana must ensure the minimum capital requirements apply to all banks rather than only the new banks.
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