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“Mr Speaker, the resolution of the banking industry has been completed while that of the 17 asset management companies (AMC) is ongoing. “Out of an estimated amount of GHS8.5 billion, this august House approved an amount of GHS3.1 billion in July 2020 to settle investors of 30 failed AMCs. “While the Securities and Exchange Commission (SEC) waits to obtain liquidation orders for the remaining 17 AMCs, it worked with the Ministry of Finance to provide a partial bailout of GHS50,000 each, paid to over 90,000 investors,” the Majority Leader said. “Mr Speaker, for the Securities and Exchange Commission to fully settle investors of the remaining 17 AMCs, an amount of GHS5.5 billion (1.3% of GDP) is estimated to achieve that.

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