• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

ISSER Director Cautions Against Hasty Reinstatement of Bank Licenses

6 months ago
in Banking & Finance, Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
261
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

ISSER Director Cautions Against Hasty Reinstatement of Bank Licenses

Professor Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), has advised the government and the Bank of Ghana (BoG) to exercise caution in considering the reinstatement of licenses for local banks affected by the banking sector cleanup.

His warning comes amid growing calls to restore licenses to some collapsed banks, particularly following the appointment of Dr. Johnson Asiama as the new Governor of the BoG.

Speaking in an interview, Professor Quartey stressed that a rushed decision could destabilize the banking sector and erode confidence in the broader economy.

“I think we should tread cautiously. You don’t want to set such a precedent where the Central Bank takes a decision and then it is reversed. If anybody has issues with that decision, that person can challenge it in court,” he noted.

The debate over reinstating bank licenses has intensified, with GN Bank’s founder, Dr. Papa Kwesi Nduom, and Heritage Bank’s majority shareholder, Seidu Agongo, both insisting that their banks were unfairly shut down.

However, former BoG Governor Dr. Ernest Addison firmly opposed any moves to restore the revoked licenses before his early retirement.

RelatedPosts

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Currently, foreign entities control two-thirds of Ghana’s 23 commercial banks, raising concerns about dwindling local ownership in the sector. While some argue that reinstating local banks could boost indigenous participation, Professor Quartey maintained that a thorough and independent review must precede any action.

“We have listened to one side which calls for further investigation. Let us not be in a haste to reinstate people who perhaps have caused financial loss to the state,” he added.

The BoG and the government now face a delicate balancing act—addressing concerns of fairness while safeguarding the stability of Ghana’s financial sector.

Tags: Bank LicensesISSER DirectorISSER Director Cautions Against Hasty Reinstatement of Bank Licenses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

Trending

Features

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

August 25, 2025

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers As anticipation builds for the...

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

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

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.