Parliament Approves Bill To Protect Depositors

Parliament has approved the Ghana Deposit Protection Amendment Bill, 2018 which seeks to give greater protection to depositors at banks and other licensed deposit taking institutions. 

This amendment comes in the wake of challenges faced by local banks like UT and Capital as well as the predicament of DKM and some savings and loans schemes.
 
Only yesterday (March 21), the Bank of Ghana announced it had taken over another indigenous bank, UniBank and has appointed a private firm as its new administrator.

Industrial watchers believe the latest development sends a wrong signal to depositors.

Members of Parliament (MPs) believe the amendment of the Ghana Depositors Act; will go a long way to reassure depositors of the safety of their deposits.
 
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