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Sep 17, 2012 at 9:02am
Central Region: Rural Banks express concern about refusal of government institutions to transact business
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The President of the Central Regional Chapter of Association of Rural Banks, Kweku Acquaah has expressed concern about the continued refusal of governmental institutions to transact business with rural banks.

He said the situation where Metropolitan, Municipal and District Assemblies (MMDAs) refuse to deal with Rural Banks and keep their accounts with Commercial and other big banks located outside their districts of operation is not helping the rural economy.

Mr Acquaah expressed these sentiments at the Biennial General Meeting of the Central Regional branch of the Association of Rural Banks at Winneba.

Mr Acquaah said rural banks are established to close the wide financial gap between the urban centers and rural communities and also serve as financial intermediaries.

He appealed to government to consider the significant roles rural banks are playing in socio-economic advancement of the rural areas and direct state institutions to transact business with rural banks to promote their operations.

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