Minority Members in Parliament (MPs) have called for a bi-partisan investigation into circumstances that led to the collapse of UT and Capital Banks.
According to the Minority Spokesperson on Finance, Mr. Cassiel Ato Forson, government needs to probe the matter in order to give Ghanaians assurances that their deposits were safe.
His comments followed the takeover of the two banks by the Ghana Commercial Bank (GCB) on Monday, August 14, 2017, following an announcement by the Bank of Ghana (BoG) that it had withdrawn the licences of the two banks which were struggling to operate financially.
Commenting on the development, Mr. Forson said: “These two banks had won enviable awards in recent high profile ceremonies. Therefore, we the Members of the Minority of this Parliament, as a matter of urgency, will be requesting through the Rt. Honourable Speaker that the Minister of Finance and the Governor of the Bank of Ghana be invited to brief Parliament about this development and to give assurances that depositors would suffer no losses.”
Addressing a news conference in Accra yesterday, Mr. Forson said the past National Democratic Congress (NDC) government took “deliberate” steps to shield the banking sector from losses.
“Notably among them is the Ghana Deposit Protection Act, 2016 (Act 931). This Act established the Deposit Protection Scheme (Insurance), the Deposit Protection Fund, and Deposit Protection Corporation,” he said.
The former deputy finance minister said the Act seeks to protect depositors from potential losses in the banking sector.
Source: GhanaWeb
