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BoG enlists Students Loan on Credit Systems

 The Students Loan Trust Fund (SLTF) has been enlisted on the Credit Reporting System by the Central Bank, the Bank of Ghana.

This was made known by the Chief Executive Officer of the SLTF, Nana Kwaku Agyei Yeboah at a presser today in Accra after the said plans have been laid down and rolled out by authorities.

He explained that if the borrowers do return the monies taken from the SLTF in the future, it equally increases their chances of getting bigger facilities from the local market since their records are intact and so, create an avenue for them to have access to fiscal facilities whenever they wish to have any. 

These are measures put in place by the Central Bank to help the SLTF to be able to recover the loans given out to applicants on time. For decades now, most of the loans given out to students who needed financial assistance have been treated as bad debt due to the institute'S inability to track the debtors, and s a result they are often unable to retrieve those monies given out. 

In so doing, the background of the students and citizens who goes to the doorstep to borrow from the SLTF are bound to be investigated and if necessary, they would apply the necessary sanctions easily. 

Content created and supplied by: AduanaBa (via Opera News )

Bank of Ghana BoG Central Bank Nana Kwaku Agyei Yeboah SLTF

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