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It was argued that a central bank was one institution which would give true meaning to political independence. It may be recalled that way back in 1947, some leading politicians had called for the establishment of a national bank, with central bank functions to act as banker to government and to cater for the indigenous sector of the economy ...
The Banking (Amendment) Act 2007 included the awarding of a general banking license to qualified banks, which allows only indigenous Ghana offshore banks to operate in country Ghana. Indigenous Ghana private bank Capital Bank was the first to be awarded the general banking license in Ghana as well as indigenous Ghana private banks UniBank ...
The Development Bank Ghana (DBG) is a government-owned development bank in Ghana. Owned by the government of Ghana , the institution has received grants and loans for on-lending to Ghana's commercial banks, from the African Development Bank , the World Bank Group , the European Investment Bank , and the German Development Bank . [ 1 ]
The first Ghanaian to head this ministry is Komla Agbeli Gbedemah who assumed this position in 1954 when the Britain allowed Kwame Nkrumah to form a government prior to gaining full independence in 1957. The Ministry has at various times been designated as Ministry of Finance or as it is currently, the Ministry of Finance and Economic Planning.
In 1957, when Ghana attained Independence, the bank re-branded to Ghana Commercial Bank, [11] to concentrate on commercial banking, since Bank of Ghana had been created to function as the central bank and banking regulator. [12] In the beginning, the bank was wholly owned by the Government of Ghana.
The bank is the first development finance institution established by the Government of Ghana. It is the developmental finance institution that provides technical and financial services to agribusiness, farmers, and other enterprises at the rural communities. It is one of the commercial banks licensed by the Bank of Ghana, the national banking ...
Rural banks in Ghana are small locally owned banks that operate under a specific mandate to support development projects and financial services to the rural population in Ghana. Rural banks were first established in Ghana in 1976 to provide banking services, provide credit to small-scale farmers and businesses and support development projects ...
The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016.