Mr. Kojo Mattah, the Managing Director, said this also tied in with the government’s agenda of moving the nation to a cash-light economy. Addressing an annual general meeting of the Bank in Kumasi, he said, they had made innovation and quality service delivery, the watchword.

That was the way forward to survive the intense competition in the banking industry.

The meeting reviewed and discussed the financial status of the bank, performance of the rural and community banks (RCBs), and innovative products being introduced to enhance rural banking services.

Mr. Mattah announced the launch of a quarterly magazine christened ‘The Rural Banker’, which would serve as the mouthpiece of the RCBs. This would tell the success story of the RCB concept, and provide a platform for the various banks to highlight the progress they were making and what they had been doing to meet the demands of their customers.

The Apex Bank would continue to work to strengthen the rural banking industry to make it the main driving force behind the development and transformation of the rural economy. The Managing Director appealed to managers of RCBs to ensure strict compliance with regulations on the payment of foreign remittances to avoid ‘call back’ of funds which would invariably lead to a burden on their profit or loss account.