The Bank of Ghana has dismissed concerns about the fairness of a mechanism used to assess the cost of borrowing by banks operating in the country. The APR is an independent compilation of how much it actually costs to borrow from each bank. The mechanism goes beyond the usual base rates and interest rates published by the banks to factor in all the hidden charges. An increasing number of prospective loan applicants tend to depend on the list for the bank with the most affordable rates. Some banks have complained that the method used could give some banks an unfair advantage. But the Central Bank said this cannot be true. Head of Banking Supervision at the Bank of Ghana Dela Selormey however hints the central bank would look into the complaints. Source: Joy Business