The Member of Parliament for the Upper Denkyira West, Benjamin Aryeh says he feels for the staff of the defunct banks who have been laid off but believes the measure is good for the country.

“It’s sad that the workers will lose their jobs but looking at the bigger picture, as a nation we are better off,” he said on Adom TV’s Badwam, Monday.

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At least 400 workers, most of who are micro banking staff, are set to leave defunct bank, Beige Bank. The workers affected by the directive comprise of tellers as well as field service operations staff who were responsible for the collection of deposits of a majority of Beige Banks’ customers who are in the informal sector.

The affected workers were given a two-week window to clear themselves and give account for all company assets in their possession.

The two-week period will span from Monday, August 27 to Friday, September 7 with the total number to be laid off numbering 490.

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The MP stated that though the workers would have to leave, the customers’ monies have not been affected by the collapse because the government made sure that the monies are secured, unlike banks’ collapses.

He added that he wasn’t surprised at the workers being laid off because the banks were already laying them off before the collapse.