Senior Partner at auditing and accounting firm, KPMG Ghana, Anthony Sarpong has advised the Bank of Ghana and other central banks in Africa to see the breakdown of banks in developed countries as an advance notice to the banking industry to deflect what is happening from now on.
As indicated by him, one of the ways of forestalling the breakdown of banks is to keep up with satisfactory liquidity to meet client withdrawals.
Talking in a meeting with Joy Business on the rear of the breakdown of US bank, Silicon Valley Bank and other greater Financial institutions, he said the failure of those banks is a clarion call that should not be neglected.
He anyway communicated certainty that the actions taken by the Bank of Ghana to help banks in the continuous obligation rebuilding project will assist in managing any such possible dangers.
"You saw that the controller has made a quick move to contain the impact of what's going on in the US on the financial area and any expected overflow. So we will not anticipate any impacts".
"In any case, it's a creating circumstance and in this manner should be watched with alert so the trepidation it set off in the US doesn't adversely affect Ghanaian banks as we go through our own difficulties, he made sense of.
Besides, Mr. Sarpong asked the Bank of Ghana to guarantee adequate liquidity in the financial business.
"The main area is to guarantee adequate liquidity of the banks, and the Bank of Ghana has guaranteed of liquidity backing to our banks. So one will be certain that we won't go through a comparable circumstance as we happen with our own obligation rebuilding"..
On March 10, Silicon Valley Bank, perhaps of the most noticeable loan specialist in the beginning up biological system, fell. Government controllers