Pulse.com.gh logo
Go


Bank of Ghana BOG to sell off DKM debt

He revealed plans of implementing a buy-back scheme with a commercial bank  who will buy DKM’s debt to customers and  redeem the debt  owed them.

  • Published:
Dr. Abdul Nashiru Issahaku play

Dr. Abdul Nashiru Issahaku

Dr. Abdul Nashiru Issahaku, Governor of the Bank of Ghana says the Central Bank  has made major advancements towards paying back the monies of the customers of DKM Microfinance.

He revealed plans of implementing a buy-back scheme with a commercial bank  who will buy DKM’s debt to customers and  redeem the debt  owed them.

READ MORE: Dr. Abdul Issahaku to deliver first monetary policy address on May 16

"If a commercial bank is interested in buying back the debt, it can then be making the payment whiles we wait for the audit process to the completed," he added.

Addressing journalists at the monetary policy press conference in Accra, Dr. Nashiru Issahaku maintained that, the Bank of Ghana through the Registrar General has appointed Price WaterHouse Coopers to audit the accounts of DKM.

The Governor, however, indicated that BoG is treading cautiously to ensure that it does not send wrong signals to other companies in the industry and also the regulator will not be directly involved in the payment.

Meanwhile, some banking experts have kicked against this bailout strategy of the central bank.

According to them, it will set a negative precedence to stakeholders in the microfinance industry.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 CEO of Afro Arab Group Ranked Among 50 Young CEO'S In Ghana 2018bullet
2 How to create a verified PayPal account Learn how to create a verified...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 Mutual funds in Ghana Top 5 mutual funds in Ghanabullet
5 How to create an NGO in Ghana How to register and start an NGObullet
6 Police arrest 6 Menzgold customers trying to lock up Zylofon...bullet
7 How to write a memo How to write a memo like a probullet
8 10 banks in danger of not meeting BoG’s GH¢400m minimum...bullet
9 Top 5 richest women in Ghana Top 5 richest women in...bullet
10 1D1F: Nana Addo commissions diaper making factory in...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet

Business

X
Advertisement