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MCA to network rural and community
banks
Agona-Nkwanta (W/R), July 9, GNA - All Rural and Community
Banks (RCBs) and their branches and agencies will be
computerized and networked within three years under the
Millennium Challenge Account (MCA), Mr Duke Osam-Duodu,
Deputy Managing Director of Apex Rural Bank (ARB) Limited,
said at the weekend.
Speaking at the 19th Annual General Meeting of the Ahantaman
Rural Bank Limited at Agona-Nkwanta, he said the MCA
programme was a continuation of the computerization
programme of RCBs, which began under the Rural Financial
Service Project (RFSP).
Mr Osam-Duodu said the programme would improve the
operational efficiency of RCBs and enable their full
integration into the national payment system.
He said ARB had signed agreements with remittance
institutions including some of the local commercial banks,
to help diversify the source of revenue generation for the
rural banks.
Mr Osam-Duodu said the marketing and patronage of new
products of ARB such as Apex link, Home Cash (Efie Ne Fie)
and foreign remittances were losing their momentum.
"We need to rekindle our marketing efforts for these
products in order to widen our revenue generation base", Mr
Osam-Duodu said.
Mr Osam-Duodu said the country's banking industry was
gradually becoming very active with the influx of banks from
neighbouring West African countries.
There is, therefore, the need for an aggressive and flexible
approach to banking in order to increase the profit levels
of shareholders' fund, he added.
Mr Osam-Duodu suggested to the management of Ahantaman Rural
Bank to include the granting of good advances to
organisations and individuals within its environs.
Management should also increase its micro finance operations
in order to improve the livelihood of the poor and promote
the rapid development of rural communities.
He said the concept of zero account opening balances and the
introduction of a one-day loan concept should be embraced by
all RCBs.
Mr Osam-Duodu said there had been reports of fraud against
some RCBs and that the ARB had put in place stringent
control measures to prevent their recurrence.
"We are to further strengthen our internal controls, use our
enquiry minds to ask questions and be vigilant against
questionable characters," he reiterated.
GNA
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