BoG must extend deadline for recapitilisation by local banks - Financial Expert

The Head of Finance Department at University of Cape Coast Business School, Professor John Gati has urged the Bank of Ghana to consider calls by local banks for an extension of time in increasing the minimum capital.

He told GBC’s Ibrahim Kwarteng that a more comprehensive approach should be adopted, using a principle-based method to achieve results.

Professor Gati said challenges of the local banks also have to do with economic management, noting that they should be cushioned from collapsing.

The Central Bank has given December 2018 as deadline for all local banks to increase the Minimum Capital from 120 million to 400 million cedis, but the banks maintain the period is too limited.