Customers of DKM Diamond microfinance company whose deposits have been held up in the company can from Tuesday September 22,2015 withdraw their monies.
The move follows the lifting of a moratorium placed on the operations of the microfinance company by the Bank of Ghana (BoG) today 14th September,2015,.
BoG to begin distributing held up cash of DKM customers
The BoG placed a moratorium on the operations of the microfinance company on 11th of May, 2015 for violating the banking Act 2004 (Act 673).
According to the Bank of Ghana the company carried its operations in a manner that was detrimental to the interest of depositors.
our Business News has also gathered DKM Diamond Microfinance Company failed to hold sufficient assets to meet its liabilities to depositors.
The BoG extended the moratorium by 30 days after the earlier 90 days ended to September 11,2015 to enable DKM to raise adequate cash to meet depositors demands.
The move barred customers of the microfinance company from making withdrawals from any of its branches nationwide.
There were several calls by the affected customers and interest groups for the BoG to expedite its investigations on the company so their funds will be released.
Earlier the President John Mahama as well as the Brong Ahafo Regional Security Council, called on the central bank to expedite action and pay depositors their locked up funds.