Bank of Ghana directs banks to suspend distribution of dividends
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The Bank of Ghana has directed banks and the Specialised Deposit-Taking Institutions (SDIs) to suspend declaring or paying dividends or distributing reserves to shareholders.
These financial institutions are also not allowed to make irrevocable commitments regarding the declaration or payment of dividends to shareholders.
The restrictions are aimed to ensure that these institutions have sufficient liquidity to support their customers through the COVID-19 pandemic and to also be able to absorb any potential losses.
A copy of the directive can be accessed here.
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