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ECONOMICS

Banks urged to set up cash outlets to serve the rural population

Major banks and financial institutions in the country have been urged to set up cash outlets in deprived communities to serve the rural population in the Bono Region.

Date Created : 1/1/0001 12:00:00 AM : Story Author : Francis Owusu-Ansah/ Ghanadistricts.com

According to Madam Justina Owusu-Banahene, the Bono Regional Minister, that would further whip the interest of the rural folks to save money. Interacting with the heads of the various financial institutions in the region at a meeting in Sunyani, the Regional Minister highlighted the need for the financial institutions to reach out to the rural population and sell banking policies to the masses.

She noted it was unfortunate many farmers and petty traders in rural communities kept their monies in their homes because they could not easily access the services of banks and financial institutions in their respective communities.

"We can't continue to deny this our rural population banking services and allow them to risk keeping their monies in homes", Mad Owusu-Banahene stated and called on the banks to extend and intensify public sensitization on the relevance of saving money in the rural communities.

She said about 60 percent of the regional population were farmers, hence the need for financial institutions to reach out, build and strengthen relationships with the rural population for mutual benefit.

Mad Owusu-Banahene implored the financial institutions to support and contribute to the holistic development of the region by ensuring that they executed their corporate social responsibility programmes, particularly, to enhance educational and health infrastructure in the region.

The Regional Minister also called on the financial institutions to network effectively and find innovative ways to strengthen security in the banks.

Many of the heads of the financial institutions who spoke in an open forum, expressed concern about the "flourishing activities" of black market money exchangers in the regional capital.

They therefore called on the government to do more and restrict the activities of the black marketers which they noted were putting pressure on the Ghana cedi.