The Deputy Managing Director of the ARB Apex Bank, Alex Kwesi Awuah, has encouraged Ghanaians to have confidence in the banking sector, particularly the Rural and Community Banks, RCB’s.

According to him, due to their diligence, the banking reforms carried out by the Bank of Ghana did not affect any customer or client of the RCBs, as such, people should continue to conduct their businesses with them.

Mr. Awuah was speaking during the Grand Durbar of the Greater Accra Chapter celebration of the Rural Banking Week at Amasaman in the Ga West Municipality.

It was on the theme; The Role of Rural and Community Banks in Financial Inclusion.

Rural and Community Banks were set up to play financial intermediary roles for rural folks. This role involves mobilizing deposits and granting credits to deserving customers in the catchment areas of each Rural Bank, with a mission to serve as an instrument for fostering rural development.

There are currently seven Rural and Community Banks in the Greater Accra Region including; the Ga Rural Bank, La Community Bank, Dangme Rural Bank and Abokobi Rural Bank. The rest are Ada Rural Bank, Shai Rural Bank and Oyibi Rural Bank.

Mr. Awuah said due to rumours that sought to suggest that RCBs that are currently in operation were experiencing liquidity challenges and next in line to be tackled in the banking reforms clean-up, the RCBs witnessed many panic withdrawals within seven days.
Mr. Awuah insisted that the incident was inspired by some disgruntled elements in society to stir up disaffection for such banks.
This role involves mobilizing deposits and granting credits to deserving customers in the catchment areas of each Rural Bank, with a mission to serve as an instrument for fostering rural development.

There are currently seven Rural and Community Banks in the Greater Accra Region including; the Ga Rural Bank, La Community Bank, Dangme Rural Bank and Abokobi Rural Bank. The rest are Ada Rural Bank, Shai Rural Bank and Oyibi Rural Bank.

Mr. Awuah said due to rumours that sought to suggest that RCBs that are currently in operation were experiencing liquidity challenges and next in line to be tackled in the banking reforms clean-up, the RCBs witnessed many panic withdrawals within seven days.

He insisted that the incident was inspired by some disgruntled elements in society to stir up disaffection for such banks.

Former General Manager of the Ga Rural Bank, Nii Larlai Odum I, expressed concern over the recent falsehood against RCBs which resulted in panic withdrawals and tasked the RCBs to be proactively involved in promoting these banks.

The Executive Director of the Association of Rural Banks, Mrs. Comfort Owusu, noted that for Ghana to achieve a high level of financial inclusion for the citizenry, the Country has to depend on Rural and Community Banks as they are the engine to drive such an agenda.

The Chief of Amamole in the Ga North Municipality, Nii Tetteh Okpe, encouraged the RCBs in the Greater Accra Region to partner the Assemblies to help in collecting property rates.

By: Paul Mamattah

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