Mahama’s promise on the Financial Sector unrealistic – Amoabeng

Chief Executive Officer(CEO) for defunct UT Bank Prince Kofi Amoabeng says he cannot see a clear cut plan by former President John Dramani Mahama to revive local banks which have now become defunct.

The former President of Ghana who is also a leader of the opposition NDC has promised that his government will work at increasing local stakes in the country’s Financial sector.

“The group will also come up with plans for restoring the indigenous stake and participation in this all important sector. We will consider ways to promote greater financial inclusion and innovation, and will consider setting up an appropriate vehicle to regulate microfinance and allied sectors in particular,
while developing the rural banking system and enhancing the role of the ARB-APEX Bank’s supervisory structure,”the former President is reported to have said in one of his engagements.

But speaking in an interview on Accra-based Mx-24Gh monitored by MyNewsGh.com, Kofi Amoabeng whose bank was merged with GCB Bank for Corporate Governance issues said he does not see a clear cut plan by the former President to allow for indigenous banks considering the new regulations.

“It sounds good to the ear but the process to do it is not going to be easy. I can’t see it,” when asked if the promise by the former President is unrealistic he said ” I don’t know how they are going to do it.”

Source: MyNewsGh.com

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