By: Ewurabena Paha
The Association of Rural Banks Ghana has pleaded with the Securities and Exchange Commission, SEC, to release their locked-up funds to enable sustainability of Rural Community Banks, RCB’s.
The funds which are in excess of more than 400-million Cedis have negatively impacted on the overall operations of RCB’s across the country.
Board Chairman of ARB APEX BANK, Dr. Anthony Aubyn, who sent the SOS to government at the 22nd Annual CEO’s Conference at Ho in the Volta region, said government can no longer hold the funds due to the legal issues associated with them, adding that those funds do not only act as shock absorbers to RCB’s but the source of income to depositors.