The Bank of Ghana (BoG) has lifted the ban on the accounts of DKM Finance Limited and has urged customers of the institution whose deposits have been held up in the company to withdraw their monies from today.
Briefing the press during questions and answers, Dr. Henry Kofi Wampah said Bank of Ghana has ordered the company to bring the list of all the depositors in order for them to retrieve their money.
Dr. Wampah explained that depositors who wish to transact business with the institution can go ahead without any fear since they have allowed them to operate as any other financial institution.
He said "customers who wish to access their funds can contact any of the DKM branches nationwide. Customers wishing to access their deposits may contact DKM Diamond Microfinance Ltd at their premises at Suyani, Berekum, Techiman, Wenchi, Nkoranza, Wa and Bolgatanga from Tuesday September 22, 2015."
BoG placed a moratorium on the operations of the microfinance company on May 11, 2015 for violating the banking Act 2004 (Act 673).
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.
But a press statement from the Bank of Ghana said the central bank had lifted the moratorium effective yesterday and all locked up funds will be released.
According to the central bank 'it will release all funds evacuated from the various offices of DKM Diamond Microfinance Ltd. The Financial Intelligence Centre (FIC) will also take steps to defreeze all accounts of DKM Diamond Microfinance Ltd which were frozen.
However despite the lifting of the moratorium on DKM Diamond Microfinance Company, the microfinance company cannot take deposits from the public until further notice and is also solely responsible for the payment of claims to its depositors.
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