CEOs of RCBs urged to be alert on employee fraud

Chief Executive Officers of Rural and Community Banks (RCBs) have been urged to be alert on employee fraud and institute stringent mechanisms to curb them.

Mr Alex Awuah, Chief Executive Officer (CEO) of ARB Apex Bank PLC, who made the call, said employee fraud posed a major threat to the growth of RCBs.

The CEO should, therefore, make a determined effort to protect their banks from all forms of fraudulent acts for the community members not to lose confidence in rural banking.

Mr Awuah was speaking at the maiden Annual General Meeting (AGM) of the Association of RCBs CEOs, held in Kumasi.

The maiden AGM afforded the CEOs the opportunity to share ideas and experiences, seek to their general welfare, deliberate on how to move the association forward and swear in new executive members. .

According to Mr Awuah, the banking sector had become prone to fraud due to the advancement in technology and the introduction of electronic banking services.

He said with hard work and perseverance, RCBs could build a thriving industry and meet the 85 per cent financial inclusion target to make them very useful to the economy.

He said the five–year strategic plan to raise about GH₵25 million to move RCB banking forward was on course.

Mr Awuah urged the CEOs of rural banks to acquaint themselves with the challenges and changes in the economy and be abreast with current financial issues in order to meet the demands of customers.

He said they must support policy interventions for effective banking and embrace the mobile market services for effective mobilization of funds.

“We must leverage this new service, embark on major crusade to also get customers registered,” he said.

He encouraged them to work harder to build a formidable financial institution to be above the needs of the public.

Alhaji Awudu Ibrahim, President of the Executive Council of the association pledged their preparedness to improve on their services and work together to promote rural banking.

“We will work with the existing structures to push the agenda of rural baking forward,” he said.

Source: GNA

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