Bank appeals to Ministries, Departments and Agencies to do business

Augustine Jirapa, the managing director of Assinman Rural Bank Limited has appealed to Ministries Departments and Agencies (MDs) to create an enabling environment for Rural and Community Banks (RCBs) in the country to help deepen financial inclusion in their catchment areas.

He said this against the backdrop that some government salaried workers who hitherto received their monthly salaries from RCBs and patronized their services had been directed to do business with other banks, a situation he said was worrisome.

Mr Jirapa said services rendered by other banks did not differ from the RCBs as they were well positioned and had the capacity to render full-scale banking services to their customers.

He appealed to those involved directives against RCBs to desist from it as RCB’s had contributed significantly to national development and their corporate social responsibility within their catchment area was unmatched.

He said RCB’s were the same, supporting MMDAs within the various communities who come up with numerous requests and reassured that RCBs would continue to treat customers with the utmost attention to deepen their confidence in the banks.

“We will continue to invest in our human capital and strengthen the relations among the staff and stakeholders for that is our strength’’ he stressed.

He said the strength of every bank was anchored on effective liquidity management and reiterated that monies deposited at the bank belonged to customers and if loaned out, must ensure it was paid back for the bank to thrive.

"We buy and sell money, if we sell and are unable to collect back the money, we will be exposing the bank to liquidity risk,” Mr Jirapa said.

He revealed that Assinman Rural Bank had made significant strides in 2020 over 2019 and 2018 amidst COVID 19 pandemic and was committed to delivering value to its customers assuring customers that its board and management would continue to give sound and prudent policy direction for the bank to remain stronger.