RCBs Told To Strengthen Risk Management

Apex Bank PixRural and Community Banks (RCBs) have been urged to do more to strengthen risk management and internal control mechanisms to sustain their operations.

George Annor, Kumasi Branch Manager of the ARB Apex Bank, said the RCBs need to be alert to prevent irregularities, malfeasance and fraud.

He warned that any laxity could prove costly and suggested to them to change their Audit Committees into “Risk, Audit and Compliance Committees”.

He told Ghana News Agency in an interview at Bibiani in the Western Region, that the Apex Bank was doing everything possible to help the RCBs to effectively deal with the dangers that come with the implementation of ICT products.

It has accordingly designed an appropriate ICT security policy to minimise the risks. Mr Annor identified micro-finance business as an area that offers enormous opportunity for the RCBs hence the need for them to take advantage of it to fight poverty and grow the economies of the rural communities.

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