The Afram Rural Bank / AC Bank limited was incorporated as a company limited by shares on November 12th, 1981 under the companies Code 1963 Act (179) of Ghana.

 The Bank was issued with a license to operate the Banking Business and was issued with a certificate to commence business on 28th January, 1982.

 It was registered with 505,000 shares of no par value.

Regulatory and Supervisory responsibility
The Bank of Ghana and the ARB Apex Bank ltd. have regulatory and supervisory responsibility over the Bank and is also a member of the Association of Rural and community banks, Ghana.

 The purpose of setting up RCBs
The rural banking industry was set up in Ghana in the 1970s with the duty of encouraging the habit of savings among the rural populations as a means of contributing to the growth of the country’s domestic capital formation to the benefit of the country’s economy.