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QUESTION 2 ARB-Apex Bank is a mini Central Bank. Discuss what this means (not less than...
QUESTION 2 ARB-Apex Bank is a mini Central Bank. Discuss what this means (not less than 250 words)
Solutions
Expert Solution
ARB Apex Bank is a mini central bank for the Rural & Community Banks (RCBs). The basic facts:
- January 2000 - bank was registered as a public limited liability company
- June 2001 - received a banking license
- August 2001 - admitted to the Bankers Clearing House as the 19th member.
Rural banks are financed mainly via the Rural Financial Services Project (RFSP), that is a project of the Government of Ghana to solve the operational problems of the rural financial sector. Every Rural and Community bank in Ghana was mandated to contribute two thousand Ghana cedis to buy shares of the ARB – Apex bank Ltd, to enable the bank become accountable to the rural and community banks. So every rural and community bank in Ghana own two thousand Ghana cedis worth of shares in Apex Bank. The remaining shares of the bank are also owned by the government of Ghana. The acronym ARB stands for the Association of Rural Banks.
ekkarill92 answered 2 years agoRelated Solutions
QUESTION 1 a)ARB apex bank is a mini Central Bank. Discuss(not less than 300 words) b)...
QUESTION 1
a)ARB apex bank is a mini Central Bank. Discuss(not less than 300
words)
b)
A
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