The Financial institution of Ghana (BoG) is advising depositors to maintain their financial savings in a viable BoG licensed monetary establishment, similar to a financial institution, rural financial institution, financial savings and loans firm, or a microfinance establishment.
It additionally urged those that save with susu collectors to make sure that they’re accredited brokers of a licensed monetary establishment, duly registered and legally licensed by the BoG to have interaction within the enterprise of susu assortment.
In a discover on monetary literacy on financial savings, the Central Financial institution urged one and all to domesticate the behavior of saving repeatedly, no matter the extent of their earnings, including, there isn’t any age restriction on once they can begin saving.
“Domesticate the behavior of financial savings early and save repeatedly to build up capital over time for future investments or use. Begin saving now to scale back future monetary stress”, it identified.
It continued that accumulating enough financial savings over time helps one to cope with life’s uncertainties in the event that they happen.
“Financial savings function a monetary lifeline for you, so it’s essential to defend your financial savings from theft, fireplace and pure disasters by maintaining the cash with BoG licensed and viable monetary establishments”, it famous.
“Keep in mind to remain in fixed contact along with your monetary establishment or susu collector. To keep away from fraud or errors, intently monitor and observe your financial savings and digital wallets (cell cash accounts), and be sure that you obtain acknowledgement of deposits both by SMS, deposit slips, electronic mail or recorded in your passbook”, it alluded.
It concluded by urging all to have interaction their monetary providers supplier to get extra details about financial savings choices.
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