The Pui Naaba of the Moshie Community in the Ashanti Region, Muftawu Issaka Kotoko has called on financial sector players to support private initiatives that are aimed at developing the sector into a more buoyant one.
Rather than downplaying the efforts of individual and private outfits to doing legitimate businesses, the Youth leader asked that they are supported with the necessary incentives and conditions needed to make them successful.
Speaking to this reporter ahead of tomorrow’s Eid celebrations by the Muslim Community, Pui Naaba, an accomplished businessman and estate developer urged the Bank of Ghana as well as other regulatory bodies in the country to conduct themselves in manners that will engender confidence in the public in trying out private initiatives.
The support these institutions of State give to private initiatives and enterprises, he noted would help the country to realize the vision of the President who intends to make the private sector the anchor of economic emancipation.
The Youth leader tasked Parliament to come out with refined legislation governing private initiatives in the country.
He stressed the introduction of a definite legal framework for private initiatives will help to encourage innovations by private and individual outfits.
Pui Naaba mentioned the recent Menzgold/ Bank of Ghana saga could have been avoided if there were clear guidelines governing the activities of such private operative.
Rather than subjecting Menzgold and BOG to public ridicule, the Protocol Chief of Moshie Community said the fracas could have been avoided by just a simple regulator stepping in to clear any ambiguity that occurred.
SIGNIFICANCE OF EID:
Speaking on the significance of tomorrow’s EID, Pui Naaba said Eid al-Adha which falls every 21st of August is one of the two most celebrated festivals by Muslims around the World.
In fact, he noted the EID al-Adha is considered the holier of the two Eids and is also known as the sacrifice feast as it is celebrated to honor the willingness of Prophet Ibrahim (Abraham) to sacrifice his son Ishmael in fulfillment of God’s command.
Pui Naaba said in commemoration of this day, an animal is killed and sacrificed to depict Ibrahim’s obedience.
The animal, he noted is then divided into three parts as one is shared by the family whiles one is given out to relatives and the third part given to the poor to enjoy and make merry.