Question

write term paper on financial institutions in Ghana

Answer 1

Financial Institute are key factors and elements in development of country and geographical region. The financial institution in all Latin American countries is growing with very fast speed from last few years, mainly Micro-finance institutions. These financial institutes are key central tool for poverty reduction in the area. The country’s micro-finance sector is one of the most growing industry of the continent. Total of $131.2 million of loans given to more than 3 millions of borrowers.

The classical banking industry of country is fairly developed, divided in two distinct areas.

• Commercial/ Universal Banks and
• Rural/ Community Banks.

There are 32 registered commercial and more than 140 rural banks in Ghana Many multinational banks like Standard Chartered bank , Barclays Bank and Ghana Commercial Bank are one of the top in market share category. The banking system is well regulated and controlled under umbrella of the central bank – the Bank of Ghana.