Consolidated Bank Ghana’s Post

OQSF invited the Presidents of the various consumer associations (ACSIF, ASUB, ASCOSEN, UNCS, ADETEELS) and Banks association (APBEF-SN) to an information and harmonization meeting on the payment postponement measures for customers affected by COVID-19, the Thursday April 23, 2020 in the premises of the OQSF. As a reminder, to follow up on presidential directives aimed at strengthening the resilience of economic agents face of the impact of COVID-19, the following measures were taken in consultation with stakeholders in the financial sector: - the postponement of maturities on loans granted to employees in the private sector as well as to companies whose income and activities have been negatively impacted by COVID-19, for a period of three (3) months renewable once, without fees or late penalty - securing financial transactions intended for customers At the end of this meeting, proposals were made by consumer organizations: * The generalization of the deferral of loan repayments to all clients, regardless of sector of activity or income * An upward revision of the rapid liquidity facility set at 200 billion FCFA * The increase by the BCEAO (compte officiel) in the resources available to banks, in order to enable them to maintain and increase financing of the economy #Finance #Resilience #Covid19

Tune in to learn how GCB Bank leads the way in African financial integration through the Pan-African Payment and Settlement System (PAPSS). Discover how our innovative solutions can transform your cross-border transactions. #GCBank #PAPSS #CrossBorderPayments #FinancialIntegration #Innovation #PeaceFM #JoinUsLive

Making ETB scarce Following the receipt of funds in foreign currency from development partners, if CBE and other banks announce for importers to present their applications to open letters of credit (LC’s), a giant wave of scarcity of ETB will surface, which will result in additional value to the local currency. As is the case with any currency, our Birr is not in unlimited supply, especially in this season of credit crunch.

Tune in to learn how GCB Bank leads the way in African financial integration through the Pan-African Payment and Settlement System (PAPSS). #GCBank #PAPSS #CrossBorderPayments #FinancialIntegration #Innovation #PeaceFM #JoinUsLive

We’re gearing up for a Grand Debate on one of the most critical questions for the future of financial growth in Pakistan. Achieving Growth Comparable to Regional Markets and How we can increase our active borrowers. With Pakistan's significant untapped potential, this debate will explore the challenges, opportunities, and strategies required to drive sustainable growth. Join us as we delve into innovative solutions to position Pakistan as a regional leader. Register today for AMC8. Registration Link: https://lnkd.in/d9V9tKYs #AMC8 #Microfinance#AnnualMicrofinanceConference #Pakistanmicrofinancenetwork #FinancialInclusion #AMC8 #pmn #2024 #MicrofinanceFuture #FinanceNetworking

The European Banking Authority (EBA) published a report on the issuance of virtual IBANs #vIBANs The report summarises the EBA’s observations and findings from fact-finding exercise on the issuance and use by payment service providers #PSPs of vIBANs conducted between 2023/2024. In the report, the EBA:  ➡️ Recognises the current absence of a definition of vIBANs and therefore sets out some common characteristics the organisation observed;  ➡️ Presents the characteristics, use cases, and potential benefits of vIBANs; and  ➡️ Provides information on the risks and challenges associated with vIBANs. PSPs should review the EBA report and take any appropriate action. Learn more: https://lnkd.in/ei5ZhXHZ

The only way to manage cash crisis in FGN is to enforce the present limits with BVN across all banks. This is possible. It has been done before for fx transactions to prevent dubious customers from withdrawing from multiple banks. IF NOT, a limit of 500k per individual account will continue to amount to 3m for those with 6 bank accounts and so on...

On December 26, 2024, the State Bank of Pakistan (SBP) injected Rs 575.8 billion into the banking sector through a reverse repo Open Market Operation (OMO) to ease liquidity constraints. The operation, executed for an eight-day term at a rate of 13.07%, saw all bids being accepted. OMOs serve as a crucial mechanism for liquidity management. Through reverse repo transactions, the SBP provides funding to banks and Primary Dealers (PDs) against approved securities, such as Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs). For Islamic banks, the SBP employs Bai-Muajjal, a Shariah-compliant financing method, alongside OMO mop-ups, which involve selling government securities to absorb surplus liquidity. These actions aim to stabilize short-term interest rates, facilitate smooth market functioning, and maintain a favorable economic environment. #SBP #MonetaryPolicy #LiquidityManagement #InterestRates #PakistanEconomy #MarketStability #CentralBank #iobm #HBL

🚀 Exciting Update: SBP Introduces New Incentive Structure for Home Remittances 💼💵 The State Bank of Pakistan (SBP) has introduced a new incentive structure to enhance the inflow of home remittances, the highest source of foreign exchange in Pakistan. The revamped system comprises Fixed and Variable Component incentives for Banks and Exchange Companies (ECs). 🔹 Fixed Incentives: - ECs will receive Rs 2 for every USD surrendered to SBP-designated banks. - Banks will receive SAR 20 reimbursement for eligible transactions of USD 100 or more. 🔹 Variable Incentives: - Banks & MFBs can earn SAR 08 for up to 10% growth (or USD 100 million) and SAR 07 for growth exceeding 10%. - ECs are eligible for PKR 3 incentive for growth up to 5% (or USD 25 million) and PKR 4 for growth exceeding 5%. This initiative is set to streamline and strengthen the remittance ecosystem, facilitating the vital role of banks and ECs in bolstering foreign exchange reserves. #SBP #HomeRemittances #Banking #ExchangeCompanies #FinancialUpdate #Pakistan

Convenient and reliable ways to transfer funds in national currency: 🔸 Clearing system is for non-cash transfers up to 1,000,000 KGS. Acceptance of applications until 11:00 ⠀ 🔸 GROSS system is for non-cash transfers of any amount. Acceptance of applications until 16:00 ⠀ How to make a transfer: 1️⃣ Open the KSB Online app or log in to internet banking. 2️⃣ Select the “My Finances” section. 3️⃣ Specify the account from which you want to make the transfer. 4️⃣ Select “Create Gross” or “Create Clearing” in the transfer method selection section. 5️⃣ Enter all payment details and the amount. 6️⃣ Confirm the transaction. Contact our Bank for more information and assistance in choosing a suitable transfer method! ☎️ +996 (312) 54 34 24   ⠀   📞 +996 (705) 54 34 24   ⠀   📞 +996 (755) 54 34 24   ⠀   📞 +996 (222) 54 34 24   ⠀   🌎 www.ksbc.kg   ⠀   #ksbcommercialbank #kyrgyzswissbank #ksbckg #kyrgyzstan #bishkek #osh #bankbishkek #bankosh #bankkarakol