The Bank of Ghana may soon impose a heavy fine on Merchant bank for going against banking regulations on granting of loans. Very credible sources at the Central Bank say the facilities granted by former MD of Merchant Bank, Peter Iliasu went beyond the net worth of the bank. This the bank says, is in breach of the banking laws. According to the sources, approval should have been sought from the Bank of Ghana. Under the current banking laws commercial banks are required to seek approval from the Bank of Ghana if they want to grant a facility beyond a certain percent of the net worth. Sources at the Merchant Bank have confirmed the story, but pray that they do not suffer the punishment. Source: Joy Business/Myjoyonline.com/Ghana