The Bank of Ghana is in talks with two commercial banks which plan to set up offshore specialized banking services for the country’s free trade zone.
An official of the Board of the Free Trade Zone, Michael Okyere, confirmed the discussions.
The specialized type of banking will enable enterprises in the Free Trade Zone to function effectively, especially, in meeting export arrangements.
Offshore banks are usually located outside the domestic economy where initial depositors reside.
Free Trade Zone is a business area created by the government for enterprises that are strategic to economic growth.