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Banking Crisis Beige Bank account holders blocked from withdrawing savings

This was after "anomalies" were detected in the fixed deposit accounts of Beige Bank and Beige Capital Asset Management (BCAM).

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Beige Bank account holders have been temporarily blocked from withdrawing their savings.

This was after "anomalies" were detected in the fixed deposit accounts of Beige Bank and Beige Capital Asset Management (BCAM).

READ MORE: UT Bank wanted to meet Mahama over brother's GHC302M debt

This was contained in a statement issued by the Consolidated Bank of Ghana, the bank that was set up to take over Beige Bank and four others.

"“Effective immediately there will be no redemptions or withdrawals on all fixed deposit accounts held by the erstwhile Beige Bank," Consolidated Bank said in a statement signed by its Chief Executive Officer, Daniel Addo.

"It has come to our notice that there are certain accounting anomalies in the fixed deposit accounts between Beige Bank and Beige Capital Asset Management (BCAM)."

READ MORE: Attacking Otabil over Capital Bank collapse "offensive"-Franklin Cudjoe

The bank said it has initiated a reconciling assignment which is expected to be completed in the next 10 working days, technically in two weeks.

 

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