It is defeatist to establish Development Bank without approval from parliament: We will oppose it-Haruna Idrissu

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    The Minority Leader in Parliament, Haruna Idrissu has indicated that his side, the minority will oppose the government’s decision to establish a Development Bank without recourse to Parliament.

    He noted that it is defeatist for the Ministry of Finance to decide to establish the Bank without approval from Parliament but quizzed whether the Ministry will come to parliament to provide funding for it?

    He made these statements at a press conference on Thursday, September 2, 2021.

    “…it is a kind of defeatist for me for the Ministry of Finance to want to establish this bank without recourse to parliament. But, will they come for parliament to provide funding for it? What will be the basis for parliament approving money for such a bank? Already it means the GHC300 million allocation is illegal,” He said.

    Mr. Idrissu further revealed that similar banks like the Agricultural Development Bank, set up in 1965 were established by an Act of Parliament.

    Moreover, he explained the government will need parliament to regulate banking objectives and functions to ensure fiscal responsibility, given the recent challenges faced in the Banking sector.

    The Minority Leader’s comment follows the decision by the Government of Ghana to use the Registrar General’s Department for the needed approval for the establishment of the Development Bank of Ghana.