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Ghana : FNSL gets approval to operate as universal bank.

First National Savings & Loans Ltd. (FNSL) has obtained approval to operate as a universal bank. Komevor Tettegah, Acting General Manager of FNSL, announced this at the annual get-together and family awards for customers in Accra.

According to Tettegah, FNSL has obtained all the required obligations to operate as a universal bank. FNSL anticipates to start full operations as a universal bank by June 2012. FNSL s capital base increased from GHAo7 million to GHAo20 million while its partner investors increased to GHAo60 million as required by Bank of Ghana (BoG). FNSL will enlarge its operations beyond Ghana besides establishing its presence in the country.

Tettegah said, We aim at becoming a People s Bank where our customers, such as traders, farmers, students, workers and small scale business entrepreneurs everywhere in Ghana, will be provided with efficient banking services .

FNSL provides emergency commercial loans for clearing goods at the port, payroll loans for salaried workers, auto loans in addition to the introduction of bullion van services for effortless cash deposit by customers.

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Publication:Mena Report
Geographic Code:6GHAN
Date:Mar 23, 2012
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