Law lecturer with the Ghana Institute of Management and Public Administration (GIMPA) said the gov’t of Ghana must be blamed for the state in which the two banks; UT Bank and Capital Banks find themsevles now.
Mrs Clara Beeri Kassar-Tee, an astute female tax lawyer has laid the blame directly on the doorway of government accusing Bank of Ghana (BoG) of break your word on it duties to ensure banks in the country regularly report their annual financial statements to them.
The lecturer says while speaking on media, failure of BoG to supervise the activities of these two banks led to the fold up and takeover by government.
She stated, what did the Bank of Ghana do because the Directors of the Banks owe an obligation to the Bank of Ghana to report.
She continued so when they did not report what did the Bank of Ghana do? …Did the Bank of Ghana take action? …they just waited and in the light of all these panic reaction”, Lawyer Mrs Clara Beeri Kassar-Tee quizzed.
“When I heard the announcement I did not make judgment on one way or other precisely because the facts [then] were insufficient”.
She said, “I have not heard the Bank of Ghana say the banks breached their reporting obligations. …you just throw allegations and suspicions and you proceed to act”.
Lawyer Clara Kassar-Tee said during panel discussion “I do not think it is proper”.
But whether or not the regulator followed the laid down procedures and applicable rules and regulations I couldn’t tell became the facts were not there”.
She pointed out to media, with respect to protect depositors’ deposit it is a good thing to always move to protect the industry and to also protect depositors’ banks”,.
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