uniCredit wins first round against Bank of Ghana over license revocation

The Bank of Ghana (BoG) has lost the first round in a case against uniCredit in a bid to strike out a case brought against it.

uniCredit is in court challenging the revocation of its license by the Central Bank. An Accra court on Thursday, 26 September 2019 dismissed an application by the BoG to strike out the case.

The Savings and Loans company wants the court to quash the Central Bank’s decision to withdraw its license.  

However, the BoG was challenging the jurisdiction of the court of which Justice George Koomson ruled that the applicant (uniCredit) has properly invoked the jurisdiction of the court.

He said the court has a mandate to hear the case hence slapped a cost of GhC3000 against the Central Bank.

Source: Daily Mail GH

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