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Judgement BOG to announce final verdict on suspended DKM Finance

Friday September 11, marks exactly four months when the moratorium was placed on the company. The bank of Ghana froze the accounts of the company on the 11th of May.

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The Bank of Ghana will , Friday September 11, make a public declaration  of its final verdict on suspended DKM Microfinance Company..

The central bank placed a 90 day moratorium on the operations and accounts of the company, when an audit report revealed that the company had contravened the Banking Act.

According to the Central Bank, DKM Microfinance did not have enough in assets commensurate to monies owed customers.

The regulator later placed an additional 30- day moratorium on the company, requiring it to raise its capital base by GHC50 million.

In an interview with Pulse Business, the Director at the Bank of Ghana in charge on non-banking and other financial institutions Raymond Amanfo, said

" We ask the customers of DKM to remain calm. We will make a public declaration of our verdict tomorrow, Friday 11 September. We have assessed DKM's situation thoroughly, and also assessed their compliance with our other requirements for them to increase their capital base, as well as restructure their board."

Mr. Amanfo will however not say whether DKM had been able to raise the required GHC50 million or not.

Read more: Customers of DKM Finance demonstrate against BOG

Friday September 11, marks exactly four months when the moratorium was placed on the company. The bank of Ghana froze the accounts of the company on the 11th of May.

Read more:BOG calls the bluff of DKM Finance customers

Customers of the company have been up in arms, demanding the release of their investements. They have threatened to storm the premises of the Central Bank if their monies were not released to them.

Read more: Rogue microfinance customers threaten lives of govt employees

 

They further threatened to make the lives of government officials in the Brong Ahafo region a living hell.

Meanwhile, management of DKM Microfinance have assured their customers that their investments are safe.

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