{"id":146202,"date":"2015-08-25T08:39:14","date_gmt":"2015-08-25T08:39:14","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=146202"},"modified":"2015-08-25T11:19:11","modified_gmt":"2015-08-25T11:19:11","slug":"bog-names-and-shames-10-unlicensed-microfinance-institutions","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=146202","title":{"rendered":"BoG names and shames 10 unlicensed microfinance institutions"},"content":{"rendered":"<p>The Bank of Ghana (BoG) has identified some 10 unlicensed microfinance institutions operating in the country and has warned the public to desist from doing business with any of them.<\/p>\n<p>[contextly_sidebar id=&#8221;r3R8GCX4KaAtPoLasjOvLq1FfGO0QoKr&#8221;]The institutions identified are,<\/p>\n<ul>\n<li>Care for Humanity International,<\/li>\n<li>Bouyant Investment Limited,<\/li>\n<li>God is love Fun Club,<\/li>\n<li>Perfect Edge Group,<\/li>\n<li>Perfect Business Fun Club.<\/li>\n<li>P.M. Ey3 Adom Fun Club,<\/li>\n<li>Creative Fun Club,<\/li>\n<li>Little Drops Helping Hand Association,<\/li>\n<li>Financial Giants Fun Club<\/li>\n<li>Great Winners Fun Club.<\/li>\n<\/ul>\n<p>These companies are operating in Wa, Sunyani,Techiman, Nkoranza, Koforidua, Ho, Brekum, Bolgatanga, Kete Krachi and Dambai.<\/p>\n<p>According to BOG, it is not responsible for the liabilities that may arise from the activities of such companies as their operations are contrary to section 4 of the Banking Act 2004.<\/p>\n<p>\u2018\u2019A number of microfinance institutions seem to equate visibility with viability and have embarked on some branch expansion without the needed capital; thus putting customers deposits at risk.\u2019\u2019 BoG\u2019s Head of Other Financial Institutions Supervisory Department, Raymond Amanfu said.<\/p>\n<p>According to him, the central bank will leave no stone unturned in clamping down on such illegal companies.<\/p>\n<p>&#8211;<\/p>\n<p>By:\u00a0 Lorrencia Nkrumah\/citifmonline.com\/Ghana<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana (BoG) has identified some 10 unlicensed microfinance institutions operating in the country and has warned the public to desist from doing business with any of them. [contextly_sidebar id=&#8221;r3R8GCX4KaAtPoLasjOvLq1FfGO0QoKr&#8221;]The institutions identified are, Care for Humanity International, Bouyant Investment Limited, God is love Fun Club, Perfect Edge Group, Perfect Business Fun Club. P.M. [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":35838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[43,4],"class_list":["post-146202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-foresight-medical-center","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/146202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=146202"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/146202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/35838"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=146202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=146202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=146202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}