
Audio By Carbonatix
Commercial Banks want the central bank to review its recent policy measures especially the one which requires them to hold nine percent of their foreign reserves in cedis.The measures introduced earlier this year to stabilize the cedi included key interest rate hikes, reviewing reserve requirements for banks and bond auctions to mop up excess liquidity.Governor of the Bank of Ghana, Dr. Kofi Wampah has however maintained that they will still hold on to these measures despite the cedi’s stability.According to Executive Secretary of the Ghana Association of Bankers, D.K Mensah the measure is seriously affecting their operations.He told Joy Business that: “All your dollar holdings for instance, we need to make cedi cover for them, in addition we have to look for cedis to cover your dollars, that is why some banks were even charging for holding your dollars, because it involves a cost to them”
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NPP relaxes nomination form collection rules amid payment platform delays
15 minutes -
IFRIG leads regulators, Ghanaian banks on non-interest banking and finance training in Malaysia
16 minutes -
Ashanti Health Directorate fights Neglected Tropical Diseases with distribution of free medications
19 minutes -
Kenya minister found in contempt of court over US-backed Ebola centre
26 minutes -
Four arrested over murder of couple in Zebilla District
46 minutes -
EasyJet says US bidder trying to buy it ‘on the cheap’ as it rejects £4.7bn offer
1 hour -
Telecel Ashanti codes programme: First cohort of 25 pupils graduate in Obuasi
1 hour -
Electricity tariffs increases by 3.49%, water by 0.85% effective July 1
1 hour -
Man, 22, arrested with skeletal parts at Sefwi Atronsu
2 hours -
Former Kenyan justice minister blocked from entering Uganda, lawyers’ body says
2 hours -
Kenya minister found in contempt of court over US-backed Ebola centre
2 hours -
Young entrepreneurs showcase innovative solutions at Health Innovation Festival 2026
2 hours -
2026 World Cup: Messi scores twice as Argentina beat Austria
2 hours -
2026 World Cup: Decision on Ati Zigi to be made tomorrow – Carlos Queiroz
3 hours -
Four dead, 5 critical as 8 houses collapse after torrential rainstorm in Cape Coast
3 hours