The National Insurance Commission (NIC) has increased the minimum capital requirement of insurance companies by over 300 percent. A statement issued to that effect indicated that the increment was agreed on after a series of consultations with stakeholders since 2017. The statement also revealed it also considered the developments within the financial landscape over the period. Life and Non-life insurance …
The Government has announced a special programme to rescue five indigenous commercial banks that failed to reach the BoG’s minimum capital requirement of GH¢400 million. The Finance Ministry in a statement issued today said a new entity called: the Ghana Amalgamated Trust (GAT) will support solvent and well-run indigenous banks, which were otherwise having difficulties meeting the new minimum capital …
Universal Merchant Bank (UMB) has announced to its customers, staff and the general public that it has received funding to meet the new Bank of Ghana minimum capital requirement of Four Hundred Million Ghana Cedis (GHC 400,000,000) by December 31, 2018. As a Ghanaian owned bank, they have always been proud of their commitment to the local economy …
