Agona-Nkwanta (W/R), July 9, GNA - All Rural and Community Banks (RCBs) and their branches and agencies will be computerized and networked within three years under the Millennium Challenge Account (MCA), Mr Duke Osam-Duodu, Deputy Managing Director of Apex Rural Bank (ARB) Limited, said at the weekend.

Speaking at the 19th Annual General Meeting of the Ahantaman Rural Bank Limited at Agona-Nkwanta, he said the MCA programme was a continuation of the computerization programme of RCBs, which began under the Rural Financial Service Project (RFSP).

Mr Osam-Duodu said the programme would improve the operational efficiency of RCBs and enable their full integration into the national payment system.

He said ARB had signed agreements with remittance institutions including some of the local commercial banks, to help diversify the source of revenue generation for the rural banks. Mr Osam-Duodu said the marketing and patronage of new products of ARB such as Apex link, Home Cash (Efie Ne Fie) and foreign remittances were losing their momentum.

"We need to rekindle our marketing efforts for these products in order to widen our revenue generation base", Mr Osam-Duodu said. Mr Osam-Duodu said the country's banking industry was gradually becoming very active with the influx of banks from neighbouring West African countries.

There is, therefore, the need for an aggressive and flexible approach to banking in order to increase the profit levels of shareholders' fund, he added.

Mr Osam-Duodu suggested to the management of Ahantaman Rural Bank to include the granting of good advances to organisations and individuals within its environs.

Management should also increase its micro finance operations in order to improve the livelihood of the poor and promote the rapid development of rural communities.

He said the concept of zero account opening balances and the introduction of a one-day loan concept should be embraced by all RCBs. Mr Osam-Duodu said there had been reports of fraud against some RCBs and that the ARB had put in place stringent control measures to prevent their recurrence.

"We are to further strengthen our internal controls, use our enquiry minds to ask questions and be vigilant against questionable characters," he reiterated.