Pulse.com.gh logo
Go


Heated BOG intensifies sanctions on DKM finance

“ We have extended the moratorium to 30 more days because we have given management of the company new stipulations to meet.

  • Published: , Refreshed:

The Bank of Ghana has intensified sanctions on microfinance company, DKM Financial Services

Customers of the company have been picketing at the Sunyani premises of the company to drive home demands for their investments to be released after the Bank of Ghana placed a 90- day moratorium on operations and accounts of the company.

Just as the agitations of the customers seem to reach its crescendo, the Bank of Ghana has extended  DKM Finance’s moratorium to 30 more days, and increased the requirements the company has to meet for the moratorium to be lifted.

in addition to a capital injection of GHC50 million, the central bank is asking DKM to reconstitute its board amongst other requirements.

In an exclusive interview with pulse.com.gh, the head of Banking Supervision in charge of other financial institutions at the Bank of Ghana, Raymond Amanfo said “ We have extended the moratorium to 30 more days because we have given management of the company new stipulations to meet. It is a completely legal process. They must also restructure their board.”

The central bank placed an initial 90-day moratorium on the operations and accounts of DKM Financial Services after an audit report revealed that the company did not have enough assets to back its liabilities to its customers.

DKM’s customers across the country have been up in arms agitating for the release of the maturing investments, but the Bank of Ghana will not budge.

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 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Banking Crises Joe Jackson urges BoG to ‘rate’ banks to restore confidencebullet
3 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
4 Duncan Amoah Fuel prices up by 2%; COPEC calls for dialogue on pricingbullet
5 Tax Policy Gov't weighs in on controversial MoMo taxbullet
6 Unibank Collapse Shareholders of uniBank unhappy with leaked...bullet
7 Banking In Ghana Stranded customers of First Allied Savings...bullet
8 How to create a verified PayPal account Learn how to...bullet
9 UT Banks Collapse “I’m saddened by the turn of events” –...bullet
10 Education Top 5 private high schools in Ghana...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Former Capital Bank staff grills pork for survivalbullet
3 Support Finance minister buys Kantanka carbullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 New Discovery Ghana discovers new mineral, lithium in...bullet
7 Money Alert Meet Africa's richest womanbullet
8 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business