The Bank of Ghana is attributing delays in approving Merchant Bank's sale to difficulties among shareholders on clearing of the bank's bad debts.The Central Bank is yet to approve a First Rand takeover several months after the South African bank submitted the necessary documents to secure the regulator's go ahead for a takeover.This has even led to speculations that the deal would not be approved.Answering questions from journalists at the Monetary Policy Committee meeting, the Governor, Dr. Henry Wampah, said any approval would depend on agreement reached among stakeholders on the bad debt.He said until the issues between the key stakeholders of the bank are resolved, the Central Bank can only watch closely.Dr. Wampah allayed fears that the bank could collapse if the deal is not approved soon, saying Bank of Ghana would not allow that to happen.But a source close to Merchant Bank has told Joy Business the bank earlier this year submitted a comprehensive document on how it is recovering the bad debt which currently stands around 186 million Ghana cedis.