BoG To Stop Waiving Single Obligor limit For Banks

Mr Kwesi Amissah-Arthur, Governor of Bank of Ghana, on Friday said granting of waivers of single obligor limit to banks to enable the importation of crude oil and petroleum products could not be continued. He said the central bank grant those waivers reluctantly in the past because it amounted to abandoning the prudential norms that had been introduced to minimized risks to banks. �This practice cannot be continued. It should be possible for our banks to grow to enable them finance large transactions or in the event, to use syndication as a tool for handling occasional extraordinarily lumpy transactions,� he added. Mr Amissah-Arthur said this at the launch of the Ghana Association of Bankers� (GAB) Conduct of Business Standards (GABCOBS) in Accra. The occasion coincided with the Annual General Meeting of GAB.