The Bank of Ghana has said it has made no plans yet to increase the minimum capital requirement for savings and loans companies.

The Central Bank says it will engage the various stakeholders in the industry before it takes such an action.

The regulator’s recent reforms in the financial sector have led to the collapse of some of the commercial and rural banks.

Some players fear a similar situation may occur in the savings and loans sector if the regulator decides to  recapitalize.

Speaking on Accra based Citi FM, the Second Deputy Governor of the Bank of Ghana, Elsie Awadzi maintains the regulator is yet to take any such decision.

“We will take such a decision after consultation with stakeholders and with the institutions themselves. As at now, we have an increase in capital and we have now put out a pre-proposal”

“So, I believe that if at a certain point in time that is the way forward we will do what in consultation with the stakeholders,” she said.