• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

BoG unfreezes all accounts of DKM microfinance

14/09/2015
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

Customers of DKM Diamond microfinance company whose deposits have been held up in the company can from Tuesday September 22,2015 withdraw their monies. The move follows the lifting of a moratorium placed on the operations of the microfinance company by the Bank of Ghana (BoG) today 14th September,2015.

The BoG placed a moratorium on the operations of the microfinance company on 11th of May, 2015 for violating the banking Act 2004 (Act 673).

According to the Bank of Ghana the company carried its operations in a manner that was detrimental to the interest of depositors.

Citi Business News has also gathered DKM Diamond Microfinance Company failed to hold sufficient assets to meet its liabilities to depositors.

The BoG extended the moratorium by 30 days after the earlier 90 days ended to September 11,2015 to enable DKM to raise adequate cash to meet depositors demands.

The move barred customers of the microfinance company from making withdrawals from any of its branches nationwide.

There were several calls by the affected customers and interest groups for the BoG to expedite its investigations on the company so their funds will be released.

Earlier the President John Mahama as well as the Brong Ahafo Regional Security Council, called on the central bank to expedite action and pay depositors their locked up funds.

But a press statement from the Bank of Ghana today said the central bank had lifted the moratorium effective Monday 14th September, 2015 and all locked up funds will be released.

According to the central bank ‘it will release all funds evacuated from the various offices of DKM Diamond Microfinance Ltd. The Financial Intelligence Centre (FIC) will also take steps to defreeze all accounts of DKM Diamond Microfinance Ltd which were frozen’.

Meanwhile according to BoG customers who wish to access their funds can contact any of the DKM branches nationwide.

‘Customers wishing to access their deposits may contact DKM Diamond Microfinance Ltd at their premises at Suyani, Berekum, Techiman, Wenchi, Nkoranza, Wa and Bolgatanga from Tuesday September 22,2015.

However despite the lifting the moratorium on DKM Diamond microfinance company, the microfinance company cannot take deposits from the public until further notice and is also solely responsible for the payment of claims to its depositors.

‘DKM Diamond Microfinance Ltd is however restricted from taking deposits from the public until further notice.

It should be noted that the management of the board of ‘DKM Diamond Microfinance Ltd are solely responsible for the payment of claims to its depositors.’ The statement concluded.

 

Credit: Citifmonline.com

Previous Post

What is important is seldom urgent

Next Post

Which countries have the happiest children? Ghanaian children not in the list

Related Posts

Investment diversification

What Putin’s war teaches about Investment Diversification

16/03/2022
Innovation and Entrepreneurship

MY 3 months in Kumasi: What Ghana can teach the UK about Innovation & Entrepreneurship

07/03/2022
Keys to safer food, ghanatalksbusiness.com

Preparing for Christmas – It should be Fun not a Funeral in waiting

22/12/2021
Top banks in Ghana, ghanatalksbusiness.com

Only 11 banks in Ghana are 5-Star rated – CIMG Report

21/10/2021

E-Commerce as a solution to reduce high unemployment rate in Ghana

17/09/2021
Youth unemployment, ghanatalksbusiness.com

Youth Unemployment: Is Ghana In Crises?

16/09/2021
Next Post

Which countries have the happiest children? Ghanaian children not in the list

Why Attitude Is More Important Than IQ

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In