People no longer put monies in banks because of haircuts - Hassan Ayariga

He explained that the issue of haircuts on people’s accounts is a big issue that many people are concerned about.

He added that, in fact, many such people no longer keep monies in the banks for fear of haircuts or, even worse, the worry that their monies are not available for them when they need them.

“I have met contractors of my calibre, from Germany, UK, America, have sent them millions od dollars to build them house. And such contractors can come up with as much as even $5 million and keep it at home because now, you cannot send such monies to the bank because the finance minister will do a haircut on it and when you even want your money, it will not be released to you…

“Yes, a lot of people have refused to put monies in the bank because of haircut. So, the haircut issue is another problem that people do not want to keep their monies in the bank anymore because when you put your money there and you want it back, the banks don’t have the monies. So, it is better to keep the money in your house,” he said in an interview with Kofi TV.

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AE/OGB