This practice of some banks and SDIs is contrary to section 7 of the Borrowers and Lenders Act, 2020 (Act 1052) which does not permit a security interest to operate as a transfer of title from a borrower to a lender.
Saa nneyɛe yi a sikakorabea no bi dan no adi no ne bosea bɔ mmara a ɛyɛ section 7 ( Borrowers and Lenders Act, 2020 (Act1052ɔ no bɔ abira a ɛmma kwan sɛ deɛ ɔrebɔ bosea no no ne deɛ ɔregye bosea afiri ne hɔ no de wɔn din bɛto n’ade so