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UE/R: CEO of Naara Rural Bank says collective effort is key to rebuilding banking sector confidence

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Chief Executive Officer of the Naara Rural Bank Limited in the Upper East Region, Abraham Musah, has emphasised the need for collective efforts by stakeholders in the banking sector, business operators, and the media to rebuild confidence in the banking sector.

Mr. Musah made these remarks at a business forum organised by A1 Radio’s Daybreak Upper East Show Team in partnership with Naara Rural Bank Limited. He noted that aside the advisory role played by the Bank of Ghana, individuals and the media should take an active interest in the sector’s activities.

“I think it is not only the advisory body (Bank of Ghana) that needs to be doing the talking, telling us what to do, and all that, but individuals and the media also have to create that space and show a willingness to know what is going on in the banking sector. So that they can further inform their colleagues, people, and especially investors on how and when they can invest in the sector.”

Speaking about the confidence level in the banking sector, particularly rural banks, Mr. Musah emphasised that rural banks are well supervised in addition to the supervisory role played by the Bank of Ghana. He highlighted the crucial role played by ARB APEX in supervising rural banks, stating that the banks are well-positioned in the banking sector.

“Aside from the supervisory role played by the Bank of Ghana, ARB APEX also plays a crucial role when it comes to supervising rural banks. So we are well-supervised. All the time, they are with us, they visit us to keep us in check. Every three months or so, there are seminars organised, and offside and onside examinations are usually conducted. So, I can assure you that the rural banks are well-positioned in the banking sector.”

Mr. Musah also disclosed that the Naara Rural Bank would focus on supporting farmers with capital this year to improve food production in the region. He revealed that the bank’s target is to assist not less than 4,000 to 5,000 farmers in their catchment area.

“Naara Rural Bank, for this year, we are changing our way of doing things from the past. Our support for farmers went down a little last year. But this year, our target now is to go so much into farming. So, at the moment now, we are looking up to assisting farmers not less than 4,000 to 5,000 in our catchment area. And that is our target.”

Source: A1radioonline.com|101.1 MHz|Moses Apiah|Ghana

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