Financial institutions urged to adhere to financial regulations

The Catholic Archbishop of Kumasi, Most Rev. Gabriel Yaw Anokye has urged all financial institutions in Ghana to adhere to financial regulations set up by Bank of Ghana to aid them in their daily activities.

He made this statement at the official opening of a new financial institution of the church named; Catholic Archdiocese of Kumasi Cooperative Society for Development (CAKCSOD) at St. John of the cross parish, Kronum.

He further, cautioned them to set the right foundations for their various organizations.

"Like the Psalmist, if foundations are not well-laid, no amount of prayer or fasting or whatsoever can amend the damages; therefore our financial institutions need to go by the laydown procedures from Central Bank in all activities to avoid any inconveniences", he said.

He assured the general public that the right and formidable foundation has been laid to ensure the growth and substance of CAKCSOD into a giant financial institution in Ghana.

He advised the general public especially potential clients of CAKCSOD to help the management and staff in their day-to-day activities.

Archbishop Anokye called on the government to assist Churches and private companies to curb unemployment in the Country.

In attendance at the official opening of CAKCSOD was the Chairman of Board Directors, Monsignor James Baffour Addo, Rev. Fr. Augustine Kofi Owusu (Board member) and Rev. Fr. Yeboah Biney (Board member).