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Thu, Nov

Ras Mubarak objects to proposed in-camera hearing into seven collapsed banks

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He further called on the public to tell their Members of Parliament to put public interest first. He added that the public has the right to know who did what.
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The Member of Parliament for Kumbungu Constituency, Hon. Ras Mubarak, has not hidden his displeasure over the in-camera hearing into the meltdown of seven local banks, by calling for such a suggestion to be blown away.

In a post shared on his Facebook page, the legislator did not mince his words as he vehemently expressed his opposition towards the step taken by the Finance Committee of Parliament to interrogate executives of the seven collapsed local banks in-camera.

Read also: No place for demagoguery in the collapsed banks’ saga

According to the lawmaker, Parliament has been offered a unique opportunity to do the right thing.

He further called on the public to tell their Members of Parliament to put public interest first. He added that the public has the right to know who did what.

There was a public outcry when it was made known by the Finance Committee of Parliament that Directors of the seven defunct banks would be quizzed in-camera. Many were of the opinion that holding the session in the full glare of all would afford them the opportunity to know the legislators who would do their work without fear or favour, and also know those who will treat the case with kid gloves.

However, others also believe quizzing the Directors in broad day light would scare people from banking their money. Hence the need to have the interrogation in-camera.

The collapse of the seven banks, namely: Beige Capital, Capital Bank, Construction Bank, Royal Bank, UT Bank, UniBank and Sovereign Bank cropped up when they were indicted by the Bank of Ghana for violating several banking regulations.

The collapsed banks have been amalgamated into the Consolidated Bank of Ghana. This action has led to the loss of over a thousand jobs, with many former employees stuck in limbo

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