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Mark Arthur V. Ghana International Bank Public Liability Company

Ghana International Bank Plcs attention has been drawn to certain misrepresentations in the matter
above and wishes to clarify its position as follows:

Ghana International Bank Plc. operates in the United Kingdom and is subject to the regulations
of the Prudential Regulatory Authority, the Financial Conduct Authority and the UK as a whole.

These regulations guide the banks internal procedures, policies as well as the conduct of all of its

The Bank takes its legal and regulatory obligations very seriously as well as its duties and
obligations to its customers. In this regard, staff are required under the bank's whistle blowing
policy and UK laws to report all suspicious transactions to the appropriate authorities. The
consequences of the Bank not fulfilling its obligations can be far reaching at times. In some
instances, staff seen to be liable could face a possible jail term and in extreme cases the Bank itself
could face a withdrawal of its operating licence.

The ongoing case which has caught public attention is about Mark Arthurs breaches of the Banks
internal policies and procedures as well as UK laws.

The Tribunals proceedings and its findings will be about whether the Bank was entitled to dismiss
Mark Arthur as it did and not about the King, Otumfuo Nana Osei Tutu II.

There has never been any suggestion by the Bank that the King was or is involved in money
laundering. In fact, we have no evidence to that effect. The bank has also not in any of its
submissions questioned the integrity of the King.

With a focus on the substance of the matter and for customer confidentiality purposes, the bank
had applied for an anonymity order in September of this year ahead of the Tribunal Proceedings
in October. This would have eliminated the mention of name of the king in the proceedings of the
tribunal. Additionally, the Bank never mentioned the King nor identified him in any of the
documents submitted to the Tribunal in its defence.

Mark Arthur had however contested this and had won thus exposing the identity of the king and
his name in the proceedings.
The Bank has maintained a long standing relationship with the King and has worked closely with
him on initiatives such as the Otumfuo Education Fund, in providing IT education to children in
deprived communities. This is a project that the Bank is keen to continue supporting.