By J. K Nabary
Brakwa (C/R), Oct 24, GNA- The Brakwa Breman Community Bank PLC is on the pathway to raise additional capital to meet the GHC 5. million requirement by the Bank of Ghana for all existing Community Banks.
The mandatory threshold must be achieved within the stipulated regulatory timeline of December 31, 2026.
The Bank’s communities, share and stakeholders, as well as the staff and directors are all responding very well to meet the deadline.
Mr Felix Dompreh, the Chief Executive Officer Brakwa Breman Community Bank, PLC, told the Ghana News Agency (GNA) in an interview at Brakwa that the Bank of Ghana had provided three clear pathways for compliance.
They are the Standalone Compliance which requires share and stakeholders to mobilise additional capital to meet the five million Ghana Cedi requirement through cash injections or conversion of retained earnings, Merger/Consolidation which also requires banks which cannot individually meet the requirement to merge with other Community Banks to achieve the minimum capital threshold collectively.
The next is Voluntary Exit for Banks unable to meet the requirements to voluntarily surrender their licenses under controlled exit arrangements that protect depositors.
Mr Dompreh assured the general public that the bank would not rest on its success but expand its services and even mobilise beyond the threshold with the support of its shareholders and customers.
He said: “We are extending special appeal to all people living in Asikuma-Odoben-Brakwa District to invest and invest in the bank to enjoy the numerous products it has to help better your lots because the bank belongs to you and the community.”
Later interacting with some stakeholders in Brakwa and Breman Asikuma, they revealed how investing in Brakwa Breman Community Bank had been of immense benefits to them.
“In fact, we are happy that we now understand the concept of community banking and we will do everything to protect it,” they said.
GNA
Edited by Alice Tettey/Benjamin Mensah