The Bank of Ghana (BoG) has repeated the requirement for people in general to address any outstanding concerns prior to managing monetary foundations, for them to try not to be casualties of Ponzi plans and other monetary tricks.
It has additionally charged the overall population to pay special attention to and try not to pay expenses and charges by monetary establishments, which have been nullified.
As a feature of a sharpening exercise by the Bank of Ghana to assist with diminishing the rate at which individuals succumb to different monetary tricks, the Central Bank has been featuring key variables it needs the general population to think about basically.
"We are featuring a portion of the limitations that we anticipate that the overall population should know about in their dealings with the Banks and SDIs. We have thought them (chose migration officials in Ashanti Region) how to recognize an authorized establishment. It is exceptionally important that each person when you need to manage a financial foundation, you need to see if they have a permit. At the point when you go to the bank, you ought to see their licenses in plain view. Assuming you feel a little doubtful, you can contact the Bank of Ghana by visiting its site, and you will actually want to see every one of the foundations that are authorized."
It is likewise critical to sharpen them (general society) on a portion of the things that have been nullified by the Bank of Ghana. Thus, we have canceled a lot of practices and expenses that the banks were charging or were embraced inside the financial area. For example, we have said it isn't considered a bank to charge what we call upkeep expenses on investment account. It is likewise not considered a bank or a reserve funds and credits or money house to change the responsibility for pledges. For example, in the event that you accept your vehicle as security, we are saying that, the bank shouldn't change the name into a joint name of the bank or to the bank to the degree that the client will pay for all that," Godfred Cudjoe who is with the monetary dependability division of the Bank of Ghana, expressed.
As for advances, the Bank of Ghana believes that general society should analyze accessible choices and furthermore do vital checks prior to marking on to the different bundles.
For clients, before you take a credit, you truly access your requirements. You pay special attention to the different charges that the banks are charging on the credit; the loan fee. Critically, we've referenced that clients of borrowers ought to be worried about the APR. Thus, we've said that whenever you will take a credit from a bank, you really want to request what we call Annualized Percentage Rate (APR). That is the expense of the advance. It is likewise critical to take note of that, whenever you need to take an office, if it's not too much trouble, ensure that you look around. You can visit five foundations, take their annualized rate rates and look at or get a pre-understanding settlement in loaning. I allude to it as supportive of forma receipt.
Godfred Cudjoe spread the word about this uninvolved of a refinement practice for officials of the Immigration Service in the Ashanti Region.
He said his outfit is focusing on security organizations on the grounds that various grievances have come from people inside the security administrations as they have fallen casualties to ponzi plans lately.
We've been doing this for around two years now. We have designated our security organizations. We have done this refinement for the military and the Ghana Police Service. It is the turn of movement. This is vital in light of the fact that we saw that, from our objection measurements, various complainants are coming from the security organizations. At the point when there's a Ponzi plot inside the country, we notice that the security offices are the most hit. We see this more in the people who go for peacekeeping, and they return, and they have some measure of cash that they find it hard to find where to put away this cash. That's what the guidance is, it is your well deserved cash that you need to contribute, so it is fitting that you require your investment and afterward pay special attention to an authorized establishment and put resources into it.
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