Renowned economist Kwame Pianim has called for the license of banks that collapsed due to political reasons to be restored. In an interview with TV3, Mr. Pianim expressed his belief that licensed banks, proven to have been revoked for political motives, should have their revocations reversed.
“Licensed Banks which are proven to have been revoked for political reasons should be reversed,” Mr Pianim said. His statement follows a pledge made by former President John Dramani Mahama to restore the licenses of banks that he deems unjustly collapsed during the recapitalization exercise conducted by the Bank of Ghana (BoG).
As the flagbearer of the National Democratic Congress (NDC), Mr. Mahama not only promised to restore the licenses but also assured that experienced individuals who lost their jobs in the banking sector cleanup would regain their positions. In his acceptance speech following his victory at the NDC’s primaries, Mr. Mahama emphasized the party’s commitment to revitalizing indigenous investment and the banking and investment sector.
“We will restore indigenous investment and the banking and investment sector. We will create a tiered banking system that will serve the various segments of the market. We will give an opportunity for experienced banking hands who were laid off to secure their careers once more and move away from the menial jobs that they were forced into. As far as practicable, the banking licenses that were unjustly cancelled by this government will be restored,” Mr. Mahama said
By: Citi Newsroom