Agroyede Microfinance Company Limited (AMCL) is a licensed financial institution which is struggling to pay its customers, in the light of the recent clean up in the financial sector. There is growing anxiety that the Bank of Ghana may revoke the license of the company. The directors have approached you to advise them on the possible grounds and procedures that Bank of Ghana may use if it decides to revoke the license and whether or not there would be any remedies available. Advise them.
Agroyede Microfinance Company Limited (AMCL) is a licensed financial institution which is struggling to pay its customers, in the light of the recent clean up in the financial sector. There is growing anxiety that the Bank of Ghana may revoke the license of the company. The directors have approached you to advise them on the possible grounds and procedures that Bank of Ghana may use if it decides to revoke the license and whether or not there would be any remedies available. Advise them.
