The Bank of Ghana has hinted it may have to confiscate and perhaps liquidate the assets of Sunyani-based DKM Diamond Microfinance Company, if it fails to pay off customer-deposits in good time.

The company appears to be having some difficulty in paying over 15,000 to their deposits, following the Central Bank’s lifting of a 3-month moratorium.

The development last Friday saw some customers throng the premises of the company, attacking staff and vandalizing property.

Raymond Amanfo who is head of Financial Institutions Supervision at the Bank of Ghana said they may, in due course, take on the concerns of the customers to another level.

“If it means confiscating their assets and going through a process of liquidation and the debtors of the company to pay up and pay customers, we will do that” he added.  

Mr. Amanfo intimated that DKM Diamond had paid close to 25 percent of its depositors’ funds as at the 12th of October “so we want to monitor them for sometime before we take any action.”

“We don’t take a decision to close an institution just abruptly because it would simply create more problems so we are monitoring them very closely” he stressed.

Meanwhile, the company has released a statement to apologise for the inconvenience it has caused customers.

Here is a copy of the full statement

The Board and Management of DKM Diamond Microfinance Limited wish to express its sincere apologies to our cherished clients for events that occurred in our offices last Friday 23rd October 2015 and wish to assure all our clients that measures are being taken to restore operations in the earliest possible time.

We very much appreciate the frustrations of our cherished clients but wish to humbly appeal to all to be measured in our actions and to ensure that we work together in resolving challenges currently confronting us.

We wish to bring to the notice of our clients that our checks have indicated that some of the people who converged at our premises were even not clients but hired crowds by our detractors to instigate our loyal clients and to cause disaffection.

We therefore urge our clients to exercise restraint and shy away from such invasions of our offices for their own interest as we protect their investments. Our sources indicates that such mobs could endanger genuine clients who have come to withdraw monies and could fall victim to robbery under the pretanse of crowd attack.

We have come a very long way in our relationship and hope that we would stand shoulder to shoulder in addressing whatever challenges by exercising a little more patience. Management wish to assure you that what transpired at our offices on the said date was very unfortunate and would make sure it does not reoccur to enable us effectively serve each and every one of you.

We advice customers to come to the office to access their money when called by DKM Diamond Microfinance Ltd. as it is impossible to make payments to all our customers at the same time.

We are at your service and would continue to stand solidly with you in rediscovering our financial world.

Signed

General Manager