Why Ignore Rural Banks In Rural Economies? Rural Bank President Asks

Mr. Kweku Acquaah, President of the Central Regional Chapter of Association of Rural Banks, has expressed concern about the continued refusal of governmental institutions to transact business with rural banks. He said the situation where Metropolitan, Municipal and District Assemblies (MMDAs) refused to deal with Rural Banks and kept their accounts with Commercial and other big banks located outside their districts of operation was not helping the rural economy. Mr. Acquaah expressed these sentiments at the Biennial General Meeting (BGM) of the Central Regional branch of the Association of Rural Banks in Winneba on Friday. Mr. Acquaah said rural banks were established to close the wide financial gap between the urban centers and the rural communities and also serve as financial intermediaries. He appealed to government to consider the significant roles rural banks were playing in socio-economic advancement of the rural areas and direct state institutions to transact business with rural banks to promote their operations. He asked the rural banks to extend lending to farmers in their catchment areas to help increase food production and also help reduce poverty level among farmers. On the December 7 polls, Mr. Acquaah called on the boards and managements of various rural banks in the Central Region to pray for peace to ensure democratic development of the country. He urged General Managers and Chief Executive Officers of rural banks to ensure that banking premises are not used for political discussion to avoid violence. Mr Acquaah called for complete ban on discussion of politics by staff at the banks premises and serve customers properly irrespective of their political affiliation.