*GOVERNMENT SHOULD REVIEW THE POLICY OF TAX BEFORE PROFIT TO HELP THE RURAL BANKS – MR ESSIEH PASCAL*

 

 GOVERNMENT SHOULD REVIEW THE POLICY OF TAX BEFORE PROFIT TO HELP THE RURAL BANKS – MR ESSIEH PASCAL

The 17th and 18th annual General meeting of Nafana Rural Bank Limited was held this weekend at the headquarters of the Bank at Sampa, the Jaman North District capital. Speaking at the program, the chairman for the bank, Mr. Essieh Pascal said that, the rural banks in the country are currently facing a lot of crises due to the covid-19 pandemic that hits the country’s economy about 2years ago.

He added that, the major challenges of the Bank are the corporate Tax which was increased from 8% to 25% in 2016 hence the need for government to reconsider the decision to introduce another Tax before profit since it can lead to the collapse of a number of institutions struggling to be on their feet after the covid-19.

He stressed that, delinquent loans are tremendously affecting the bank and so loan defaulters must do well to settle their loans granted them by the bank as a matter of urgency to ensure a successful operation of the Bank.

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On his part, the Manager of Nafana Rural Bank Limited Mr Sie Kwaku Samuel also taut on major product and activities of the Bank that has raise it to this greatest level.

He disclosed that, the deposits rate of the Bank has increase, customers satisfaction has been their prime concern since the establishment of the Bank, and also see to it that loans are granted to farmers and petty traders hence the need for all to transact business with Nafana Rural Bank to ensure a brighter future.

Source:#trustnews

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