Akim Bosome Rural Bank educates public on re-denomination of cedi

Akyem Ofoase, March 24, GNA-The Akim Bosome Rural Bank at Akyem Swedru has embarked on an education campaign on the re-denomination of the cedi in its catchment areas.

Speaking at Akyem Ofoase in the Birim North District on Friday, Mr Kwaku Owusu- Baah, chairman of the board of directors of the bank said the re-denomination exercise had become necessary to avoid carrying large sums of money during business transactions. He said the value of the yet to be introduced currency would be the same as the current one.

Mr Owusu-Baah said the new cedi would be in circulation from July this year, adding that the present one would be used alongside it until the end of the year.

He told the gathering that it is only at the banks where one can change this money, adding that there is no deadline for the changing of the present currency for the new one.

Mr Owusu-Baah, who is also a Lecturer at the University of Ghana, Legon therefore advised the people not to fall prey to fraudsters who would persuade them to change their monies for them, only to run away. He advised the people to open accounts with the banks to facilitate the changing process when the time comes in July. Mr Emmanuel Guha Enyan, Acting Supervising Manager later launched GLICO/Akim Bosome Rural Bank Micro Insurance Policy and "KAKYERE WO NUA" network promotions.

Under the promotion, a salaried worker who introduces three other customers to the bank automatically qualifies to enjoy six months commission free salary and receive full monthly salary without any deduction.

In another development, the bank inaugurated a hand dug well it had constructed for the people of Akyem Ofoase as part of its social responsibilities. Nana Frempong Manso, Ankobeahene of Akyem Ofoase on behalf of the people thanked management of the bank for the facility, which he said, had come at the right time when they were facing acute water shortages.