Sunday, June 26, 2022

BOG extends Minimum Capital requirement deadline for Microfinance Institutions

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The Bank of Ghana has extended the deadline for  Microfinance Institutions and Rural Banks to meet  the BOG’s Minimum Capital requirement, to December,  next year.

The Bank of Ghana in 2015 announced an upward revision of the minimum capital to One  million cedis to be met by December 31, 2017.But this was reviewed to February ,this year.

The Governor of the Central Bank, Dr Ernest Addison who announced the extension among other reliefs in the face of the COVID 19 outbreak, said this will ensure that low income earners are not denied critical financial services.

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