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Credit clearance bureau to be licensed
by BOG in 2008
Takoradi, Dec. 28, Ghanadot/GNA- The Bank of Ghana would
license the first Credit Reference Bureau (CRB) by the first
quarter of 2008.
The credit reference bureau would make it easier for all
banks to have access to credit data of individuals, firms
and entities and prevent credit defaulters from accessing
new loans at different banks.
Doctor Mahamudu Bawumia, second Deputy Governor of the Bank
of Ghana (BOG) disclosed this at the opening of the Takoradi
branch of the International Commercial Bank (ICB) on Friday.
"The BOG awaits the passage of the Borrowers and Lenders
Bill (BLB) next year, which will allow banks to enforce
collateral as well as live up to responsibilities to
borrowers" he added.
Dr. Bawumia said the CRB would reduce the risks faced by
banks and this would also help reduce interest rate spread.
He said the Financial Soundness Indicators (FSIs) of the
banking sector have seen positive developments and has thus
improved the quality of loans granted by the banks.
"The high non-performing loans have reduced from 22.7
percent in December 2002 to six point one in September 2007.
Mr Abdulai Alhassan, Acting General Manager in charge of
Finance and Administration said the bank since its inception
in 1996 has not charged any commission on current account
holders.
He said the bank would continue to expand and bring banking
to the doorstep of Ghanaians.
GNA
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