Business News of Monday, 20 May 2019Source: citinewsroom.comSet up special courts for financial cases – BOG bossErnest Addison, Governor of the Bank of GhanaThe Governor of the Bank of Ghana (BOG), Dr. Ernest Addison has asked the judicial service to establish special courts to deal with the adjudication of financial cases associated with the financial sector reforms undertaken by the Central Bank. According to the governor, the slow pace at which the judicial service handles financial cases is partly to blame for the high rate of non-performing loans in the country. As of December 2018, non-performing loans stood at 18 percent which is above the international rate of 5 percent. We will be able to address some of the cost structural issues concerning non-performing loans. The Bank of Ghana further explained that it had revoked the licenses of Premium Bank and Heritage Bank and approved their takeover by Consolidated Bank Ghana Limited.

Source: GhanaWeb May 20, 2019 18:33 UTC