RURAL BANKS SUE KMA

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    The Ashanti Regional branch of the Association of Rural Banks is up-in-arms against the Kumasi Metropolitan Assembly over what the Association considers to be an arbitrary increase in the annual Operating Fees charged by the Assembly. 
The Association has therefore prayed a Kumasi High Court to place an Interlocutory Injunction on the KMA against either going ahead to charge the new Fess for this year or stop it from locking up Agencies of Rural Banks in the Kumasi Metropolis. 

Dr. Nana Akowua Boamah
Addressing the 21st Annual General Meeting of the Kumawuman Rural Bank at Kumawu in the Ashanti region, the Ashanti Regional President of the Association of Rural Banks, Dr. Nana Akowua Boamah wondered why the KMA should increase the annual Operating Fees of one thousand Ghana Cedis charged every Agency of the Rural Banks to 10 thousand Ghana Cedis. 
According to Dr. Nana Akowua Boamah, there are currently 63 Agencies of various Rural Banks whose number of agencies in Kumasi range from four to six. 
He questioned the rational for the sudden astronomical increase, especially when the Association was not consulted during the fee-fixing saying that if the new fees of 10 thousand Ghana Cedis per Rural Bank agency is allowed to stand, many of the banks would collapse since it would worsen their already huge operating expenses. 
Dr. Nana Akowua Boamah stressed the significant contribution of rural banks to national socio-economic development which requires that the sector is accorded due recognition

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