Don’t meddle in rural bank’s operations – Kotei Dzani
Politicians and traditional leaders have been urged not to meddle in the operations of Rural Banks in the country.
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The President of Group Ideal, Dr. Nii Kotei Dzani says interferences from politicians and chiefs affect the growth and effective operations of the rural banking sector.
He said eliminating interferences in the rural banking sector would go a long way to expedite government’s vision of industrializing the sector.
Dr. Dzani made the remarks at the 6th Rural and Community Banking Week celebration held at Kpong in the Eastern region.
It was on the theme: “Rural banking; key to National Development”.
Dr Dzani explained that the call was not to reject chiefs and politicians from accessing credit facilities at the rural banks but to ensure effective and efficient operations of the banking sector.
He said chiefs, in particular, played a critical role in the banking sector by offering lands to the banks.
He, however, said “recovering funds chiefs and politicians who accessed credit facilities sometimes becomes a challenge”, and noted that such conditions affect the operations of the banks.
Reconsider capital requirement
Dr. Kotei Dzani also appealed to the Central Bank to reconsider the capital requirement and the timelines given to the banks, particularly the indigenous banks.
He said the strength of the local banks could not be compared to that of the foreign ones.
“It is important that we grow our own. Rural and Community banks play a pivotal role in the rural industrialization of our country. Government after 40 years may have to reconsider the concept of the rural bank so we provide them with the necessary assistance in order to take off with the government policy of the rural industrialization”, he said.
Banking week
The banking week celebration afford the rural banks to assess their activities and challenges over the period.
It is also to enable them devise strategies to promote the growth of the rural banking sector.
Award
Dr. Dzani was given a special recognition award at the event for his excellence and illustrious service as an Entrepreneur, Philanthropist, and a Statesman.