Association of Rural Banks

DDEP: Rural Banks Investors Unhappy With BoG Directive To Halt Dividend Payment

DDEP: Rural Banks Investors Unhappy With BoG Directive To Halt Dividend Payment

Some shareholders of Rural Banks in the country have expressed dissatisfaction at a directive from the Bank of Ghana (BoG) to halt payment of dividends. The Bank of Ghana gave the directive as part of measures to reduce the impact of the COVID-19 pandemic, the current economic challenges, and the impact of the Domestic Debt Exchange Programme (DDEP) on the financial sector. The move is also aimed at building the capital adequacy ratio of banks and specialised-deposit taking institutions. Reacting to the issue in an interview with Joy Business, the Executive Director of the Association of Rural Banks, Comfort Owusu…
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