The Greater Accra Regional Minister, Sheikh I.C. Quaye, has commended Standard Chartered Bank Ltd (Stanchart) for its leading role towards advancing improvement in the banking sector. He said such dynamism on the part of the bank has promoted a mutually beneficial relationship for both the private and public sectors of the economy.
“We in the Government continue to monitor the progress of Stanchart and note with admiration the fact that the bank has long been an integral part of the financial landscape in this country,” he stressed.
Sheikh Quaye made the observation during the launching of the First Drive Through ATM in Ghana, in Accra last Thursday. The Drive Through ATM, is unique in the sense that a customer can withdraw money in the comfort of his vehicle, without necessarily coming out.
He expressed the hope that Stanchart will continue in its bid to support the Government’s efforts as the economy is now showing signs of recovery to ensure sustainable growth and development in the years ahead.
He expressed the hope that Stanchart’s deposits and loans would reflect the bank’s contributions to national development especially in the key sectors such as health, education, agriculture and the environment as the economy improves.
The Regional Minister re-emphasized the government’s bid to adequately strengthen the financial sector to enable it spearhead the expected growth of the private sector.
“We are optimistic that with the support of the banking sector, government’s economic policies and interventions will soon bear fruits,” he added.
On the minimum deposits required by some banks when opening an account, Sheikh Quaye lamented the new minimum of 500,000 cedis as a deterrent and over and above the average Ghanaian worker, adding that the policy has the tendency to have a negative impact on the level of savings and invariably affect the economy.
He, therefore, implored the banks to review the policy in order to accommodate and encourage a lot more people, especially workers in the public sector, to save and also to enjoy the distinguished services offered by leading financial institutions in the country.
