Regulatory Alerts2020-06-22
Directive for Voluntary Winding Up of Regulated Financial Institutions
The Bank of Ghana issued this directive to establish a standardized framework for the voluntary winding up and licence revocation of banks and specialised deposit-taking institutions. Regulated financial institutions must demonstrate solvency, secure Bank of Ghana certification, and obtain a directors' affidavit confirming full debt settlement within twelve months to initiate the process. Upon approval, a licensed liquidator assumes control to settle liabilities, distribute remaining assets, and ensure an orderly exit that safeguards depositors and maintains systemic stability.
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