Re: Ghana’s Banking Crisis: The Deposit Protection Angle, Part I
Introduction: After reading the succinct analysis on the above subject matter by Samuel Alesu-Dordzi, I am inclined to break my usual norm as a passive...
Ghana’s Banking Crisis: The Deposit Protection Angle
The recent collapse of 7 commercial banks has generated a lot of interest and discussions. In spite of these discussions, not much has been said...
What is Money?
Messrs Twumasi Ankrah and Nartey in different articles concerning the legal consequences of the operation of Menzgold Ghana Limited were unanimous on one point: that...
Deposit-Taking or Not: The Curious Case of Menzgold Gh Ltd and The Dilemma of the Bystander
The Bank of Ghana (BoG) in furtherance of its supervisory powers under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) has embarked on...
Who Should Regulate Menzgold – BOG or SEC?
In November 2017, the Bank of Ghana (BOG) via notice[i]cautioned the public against transacting business with Menzgold Ghana Company Limited (Menzgold). The notice further stated...
Are the Directors of the Failed Banks in Serious Trouble?
The conversation relating to the August 1, 2018 announcement of the ‘collapse’ and so-called ‘consolidation’ of the five banks[1]went from taking stock of the intensity...
What, in Law, has Happened to the Five Collapsed Banks?
While the majority of players and stakeholders in the financial space welcome the recent Bank of Ghana (BOG) intervention regarding the recent the ‘collapse’ of the five...
Overview of Ghana’s Deposit Protection Scheme
2016 was a challenging year for the Ghanaian Banking sector. Reports of microfinance institutions folding up were rife. “Owners” of these financial institutions were disappearing...
Overview of BOG’s Corporate Governance Directives
Banking in Ghana began in the 1890s when Standard Chartered Bank (Ghana) Limited established its first branch in Accra. This was followed by the opening...
Unibank vs UT Bank and Capital Bank: Spot the Difference?
The Bank of Ghana (BOG) on March 20, 2018, appointed KPMG as “official administrator” of Unibank Ghana Ltd (“Unibank”). According to the BOG, the appointment...