The Chief Executive Officer of the Ghana Savings and Loans Companies Association, Tweneboah Kodua Boakye, has condemned the assault of a loan debtor captured in a viral video, describing the incident as unacceptable and contrary to the operational procedures of financial institutions.
Speaking on the Asaase Breakfast Show on Monday (16 March), Boakye said the conduct seen in the video does not represent the practices of institutions operating within the regulated financial sector.
“We have seen the video and the industry considers it very unfortunate. This is never part of the procedures for recovering loans within the banking and financial sector,” he said.
Boakye said the association supports the decision by the company involved to apologise over the incident and indicated that the industry would cooperate with regulators and law enforcement agencies to investigate the matter.
According to him, the industry places strong emphasis on customer protection and professional conduct when dealing with borrowers.
“Our training across the sector emphasises that the customer is very important. We encourage institutions to ensure their staff operate strictly within the approved standards and procedures,” he explained.
Boakye added that the association would work with the Bank of Ghana and the Ghana Police Service to ensure that the necessary investigations are conducted and any wrongdoing addressed.
He noted that while the incident appears isolated, it should serve as a lesson to financial institutions to reinforce training and supervision of staff involved in loan recovery.
“We want to operate in an environment where customers feel safe doing business with our institutions,” he said.
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