comparemela.com

Latest Breaking News On - செயலற்ற கணக்குகள் - Page 6 : comparemela.com

BoG issues unclaimed balances & dormant accounts directive

Dr. Ernest Addison, Governor, Bank of Ghana The Bank of Ghana has issued Unclaimed Balances & Dormant Accounts directive for banks and specialized deposit-taking institutions that will ensure all balances of inactive accounts are moved into one single account – the dormant account register. The directive is pursuant to Section 92 of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). The objectives of this directive, according to the Bank of Ghana are to establish processes and procedures for reclaim of funds by dormant account holders or their legal representatives, amongst others. The directive shall however not be applicable to accounts that are subjects of litigation, fraud, investigations by a regulatory authority or law enforcement agencies, and others.

Don t panic, your monies are still safe – Financial expert – Ghana Visions

Dr Richmond Frimpong, Financial Expert Financial Expert and Executive Director at Financial Literacy Foundation in Africa Dr Richmond Frimpong has stated that the Bank of Ghana’s (BoG) directives concerning unclaimed Balances & Dormant Accounts is part of steps put in place to safeguard depositors’ funds. Dr Frimpong explained that some people use their relatives as next of kin but do not tell them about it and this has resulted in accounts being dormant and unclaimed funds going up. “For a depositor, you shouldn’t be worried at all this is good news for you. In Ghana, for example, people open accounts, current and savings and most of the time research has shown that people write people’s name as beneficiaries but never mention it to them. So in many instances when those people are no more, nobody can trace such account and that becomes an inactive account and its eventually dormant,” he said in an interview with Joy Business.

Clare projects sought for Ignite Midwest Fund

A new €650,000 social innovation fund has been launched today by Rethink Ireland for innovative projects in Clare, Limerick and Tipperary that empower communities, tackle poverty, and promote social inclusion. The Ignite Midwest Fund, the first of its kind specifically for the Midwest, has been created by Rethink Ireland in partnership with several private donors from the region including the Parkes Family Limerick, the Community Foundation for Ireland, and is matched by the Department of Rural and Community Development via the Dormant Accounts Fund. There will be a minimum of five awardees with the fund now open for applications until 29th March 2021.

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.