The Ghana Association of Bankers has announced that it is donating some GH¢10 million to the government towards the purchase of critical equipment for managing the COVID-19 pandemic and for public education.
This, according to the association, is part of efforts to mitigate the impact of the Coronavirus on the financial services sector
The association announced this in a statement issued and was signed by its Chief Executive Officer, Mr D. K. Mensah.
The statement said, “This is to ensure the sustainability of the industry and the economy.”
The Association has also asked all members to make available common access when required to each other’s Branch Networks, ATMs, and GhIPSS platform among others, in cases of distress due to the pandemic.
In addition, all financial institutions are to make sure cash would be regularly sanitized to safeguard public health and current overnight limits will be increased to provide market liquidity to ensure that critical banking services are readily available to customers.
The Association also encouraged the public to patronize the various digital channels as it waives off internet banking charges and the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) charges for the period of the COVID-19 outbreak.
“To encourage the increased use of digital channels, the Ghana Association of Bankers shall for the period of the COVID-19 pandemic waive off Internet banking charges, charges on the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) Instant Pay (GIP), Mobile Money Interoperability which is applicable to only transfers from Ghs 100 and below excluding cash-out, and ACH Direct Credit,” the statement noted.
“To facilitate interoperability within the financial sector, member banks will work with Mobile Money service providers during the period of this crisis to put in place measures in the interest of the general public,” it added.
Though these measures will be reviewed after a period of three months, the Association states that it will continue to monitor the likely consequences of the pandemic on the banking sector and actively take steps to mitigate the possible impact on customers, employees and the general public.
Ghana has already recorded 52 cases of the disease with two deaths.