The management of gold dealing firm ‘Menzgold Ghana,’ has denied it is taking cash deposits from the public and assured customers that their investments with the company are safe.
In a statement to react to a Bank of Ghana notice accusing the company of breaching the Banks and Specialized Deposit-Taking Institutions Act, 2016, Act 930, ‘Menzgold’ said the accusation by the Central Bank cannot be true as Menzgold neither accepts deposits from customers nor carry on a deposit taking business.
Management of Menzgold described the Central Bank’s notice as ‘unfortunate and disparaging’, saying its doors are always opened to the regulator or any institution seeking clarification on its operations.
According to Menzgold it is a law abiding organization working within the remits of its license.
The statement said the Bank of Ghana has always been aware of the activities of Menzgold which are restricted to allowing customers to purchase gold or deal in gold as an alternative investment.
The company therefore finds it unfortunate and disparaging that the Bank of Ghana, with whom Menzgold has had a number of engagements over the years and taken them through its business procedures would still issue such a statement.
