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Bank of Ghana to
introduce new cheque clearing system
Apam, May 27, Ghanadot/GNA – The Bank
of Ghana is to introduce a new cheque
clearing system to be known as “cheque code-line clearing” into
banking services with effect from July
this year.
The electronic-based system which is to make cheque clearing
faster was an innovation of the Ghana
inter-bank payments solutions system (GHIPSS), a
subsidiary of the Bank of Ghana.
Mr Richard Mettle Addo, Head of Research and Marketing
Department of the ARB Apex Bank,
announced these at the 28th annual general meeting of the
Gomoa Rural Bank at Apam.
He said the cheque code-line clearing and the e-zwich money
transfer were part of reforms being
made by the Central Bank to make Ghana a cashless
economy, which means people would not need to do
transactions with fiscal cash.
Mr. Addo appealed to Rural and Community Banks (RCBs) to alter
their
operations to keep in tune with the changing technological and
electronic requirements.
He commended management and Board of directors of the Gomoa
Rural
Bank for increasing its capital adequacy ration to 55.79 per
cent placing second position among 126
Rural/Community Banks (RCBs) in the country.
Mr. Kodwo Konadu Asiamah, Executive Director, Association of
Rural
Banks, urged directors of RCBs to initiate programmes to
encounter the global economic crunch.
He appealed to metropolitan, municipal and district assemblies
to channel their shares of the
District Assembly Common Fund through RCBs to help them
to generate more revenue to support development projects
in their areas.
Mr. Andrew B. Simpson, Chairman of the Board of Directors of the
Gomoa Rural Bank, in a report said the
Bank made GHc52,247 profit before tax in 2008
as against GHc32,748 representing 59 per cent deposits
increased from GHc759,485 in 2007 to
GHc1,170,504 representing 54 per cent.
He said investment rose from GHc786,984 in 2007 to GHc998,305,
representing 27 per cent, in the year under review.
Mr. Simpson expressed concern about the failure of customers to
repay loans contracted to them,
declaring GHc67,307 as outstanding loan in 2008 as
against GHc94,283 in 2007.
Mrs. Rose Newman, National President of the Association of Rural
Banks, appealed to shareholders to
increase their shares to enable the bank to raise its
capital adequacy.
She, however, commended the bank for raising it share capital
from
GHc51,000 in 2007 to GHc154,000 in 2008.
GNA
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