BoG issues mergers and acquisitions directive for banks, SDIs
The Central Bank has issued a Mergers and Acquisitions directive for banks and Special Deposit Taking-Institutions (SDIs) in the country.
The new directive by the Central Bank, seeks to operationalise relevant sections of Act 930 of the Banks and Special Deposit Taking-Institutions (SDIs) Act 2016 pertaining to mergers and acquisitions by providing guidance on the processes and procedures for evaluating applications for mergers and acquisitions and the required information, documents or agreements to be submitted to the Bank of Ghana.
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The directive is also to set minimum conditions that must be fulfilled by the parties to the proposed merger or acquisition.
According to the Bank of Ghana (BoG), the directive will not adversely affect the competition and stability of the financial system.
Peruse details of new directive below:
Mergers and Acquistions Directive Final for Publication 05-08-2021 1 by Fuaad Dodoo on Scribd