Deputy Finance Minister nominee, Charles Adu Boahen has stated that, there should not be any form of restrictions on the number of banks in the country as far as they meet the criteria to open a bank.Â
Restricting them he said means,restricting free marketing which would not be good for a country that is chasing financial growth across all sectors.
However, he said,the requirement for having a bank should be looked at as they are not obliged to have a nationwide coverage.
"Nowhere in the requirements do I see a nationwide coverage as a requirement and that must be reviewed,"he stated.Â
"There are banks that could meet the capitalization requirement have maybe just about five branches and say they are a universal bank and that is not the best,"he stressed.
Speaking before the Appointment Committee of Parliament he said, "that would not enhance the spread of banks across the country."
"As part of the requirements if I were the Governor of the bank of Ghana, would be to look at branch network.Having a nationwide branch network as a requirement,where every city or town that has a certain population would be required to have a branch to qualify to be universal bank."
Three deputy minister nomineesÂ
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