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Ideal Finance Entreats Public To Dismiss False Publication About BOG Takeover

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The administration of Ideal Finance has implored the general public to dismiss a false publication which guaranteed that the Bank of Ghana was set to assume control over its tasks due to liquidity challenges.

According to the Finance hub, the said information is false and loaded with invented quotes ascribed to the Finance Minister, Ken Ofori-Atta.

“This publication is evidently sourced from a meeting conceded by the Hon. Finance Minister, Ken Ofori-Atta on the Peace FM morning show ‘Kokrokoo’ with Kwami Sefa Kayi on Friday 16th November, 2018,” the statement said.

“The Hon Finance Minister, Ken Ofori-Atta did not anytime amid the meeting with Kwami Sefa Kayi say the words ascribed to him along these lines “… take over Ideal Finance over liquidity challenges”

“This information is false and laden with imaginary statements which don’t ambiguously speak to what the minister said in the previously mentioned interview. The source website, www.mynewsgh.com withdrew and expelled the story from their site after 2 hours of publication because of the deceptions made in the story.

“We along these lines approach our appreciated clients and the overall population to dismiss the publication and its resulting analysis. The following is a connection to the Peace FM ‘Kokrokoo’ meeting should you require further check”.

Notwithstanding, the announcement likewise conceded that Ideal Finance like different indigenous fund houses was confronting a few difficulties coming about because of frenzy withdrawals following the fall of exactly seven banks in the last one year.

“We want to put it on record that Ideal Finance Limited is in good standing with the Bank of Ghana with a paid up capital of GHS 56.7 million, above the minimum capital requirement of GHS 15 million for finance houses with a capital adequacy ratio of 11.6%. Following the collapse of the seven banks over the last one year, the entire finance sector has experienced a major shake up resulting in panic withdrawals and indigenous finance houses have been the hardest hit; Ideal Finance has not been an exception”.

Below is the full statement from Ideal Finance

FOR IMMEDIATE RELEASE

Our attention has been drawn to a false publication making rounds on certain blogs and on social media that claims the Bank of Ghana is set to take over Ideal Finance over liquidity challenges.

This publication is apparently sourced from an interview granted by the Hon. Finance Minister, Ken Ofori-Atta on the Peace FM morning show ‘Kokrokoo’ with Kwami Sefa Kayi on Friday 16th November, 2018.

The Hon Finance Minister, Ken Ofori-Atta did not at any point during the interview with Kwami Sefa Kayi say the words attributed to him thus “…take over Ideal Finance over liquidity challenges”

This publication is untrue and fraught with fictitious quotes which do not vaguely represent what the minister said in the aforementioned interview. The source website, www.mynewsgh.com retracted and removed the story from their website within 2 hours of publication due to the misrepresentations made in the story.

We therefore call on our cherished customers and the general public to disregard this publication and its ensuing commentary.

We want to put it on record that Ideal Finance Limited is in good standing with the Bank of Ghana with a paid up capital of GHS 56.7 million, above the minimum capital requirement of GHS 15 million for finance houses with a capital adequacy ratio of 11.6%. Following the collapse of the seven banks over the last one year, the entire finance sector has experienced a major shake up resulting in panic withdrawals and indigenous finance houses have been the hardest hit; Ideal Finance has not been an exception.

Ideal Finance remains a leading finance house and is not in breach of any BOG regulations, we will like to use this opportunity to inform our cherished customers that, Ideal Finance is working around the clock with different institutions in Ghana and abroad to ensure that we remain the most stable finance house in Ghana.

Most importantly, our sincerest thanks goes to all our customers for your unrelenting trust in us, and for your continued business with Ideal Finance. We assure you of our unwavering commitment to serving you well and keeping your investments safe at all times.

Signed

Management, Ideal Finance Limited.

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