Financial Stability Fund

Financial Stability Fund Set For Operationalisation With US$750 Million
02 May

Financial Stability Fund Set For Operationalisation With US$750 Million

wontumionlineBusiness,
The Financial Stability Fund (FSF) is finally set to come into play with a US$750million disbursement from the Ministry of Finance. The sum, which translates to approximately GH¢9billion – or 60 percent of the aspirational GH¢15billion, is expected to provide solvency and liquidity support to eligible financial sector institutions affected by – and who fully participated in – the domestic debt exchange programme (DDEP). The FSF aims to strengthen the country’s financial system by promoting overall macroeconomic stability. It will provide short-term liquidity to eligible financial institutions and act as a buffer for any unintended shocks to the financial sector.…
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Databank Shuts Offices, Staff To Work Remotely Due To Attacks And Threats
22 Dec

Databank Shuts Offices, Staff To Work Remotely Due To Attacks And Threats

wontumionlineBusiness, , ,
Investment and fund management firm Databank has announced the closure of its offices effective Thursday, December 22, and to work remotely following attacks and threats on its staff. A statement issued Wednesday by the company said it has not been spared the liquidity challenges that have beset the fund management industry owing to the ‘macro-economic crisis’ facing the country. The situation has negatively impacted its ability to honour withdrawal requests as expected, however, while some clients have cooperated with the company, “there are several clients who have felt the need to abuse our staff physically and verbally, and also threaten…
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