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The plans for the formation of partnership amongst banks to harness the financial opportunities associated with the country�s oil production is likely to materialize by the first quarter of this year. Banks were urged to form such collaboration with especially other foreign entities to meet the demanding financing activities of the nation�s emerging oil and gas industry. This is mainly because of the general perception that the local banks are rather apparently disadvantaged in such ventures and thus likely to lose out on the benefits of the prospective industry. The Managing Director of AMAL BANK, Menson Torkonoo in an interview with Citi Business, says his bank is repositioning itself to take up this challenge by establishing a partnership with other banks mainly Standard Chartered Bank. He said Amal Bank is looking beyond collaboration and considering the option of offshore financiers who will take up the challenge and also taking into consideration single obligations at the same time taking permission from Bank of Ghana. He said, Amal Bank have being talking to Standard Charted Bank who they have some lines with at the moment.He noted that Standard Chartered Bank is a foreign bank and therefore also have some principals to also consult. Mr. Torkonoo said Amal Bank has had series of meetings with Standard Chartered Bank since last year and there believes it is going to that they are going to benefit from the collaboration soon. Mr. Torkonoo also tells Citi Business some banks including AMAL BANK are also venturing into some other private initiatives mainly oil-importation in a bid to fully exploit such business opportunities. He noted that to stay in business one must be innovative and therefore Amal Bank is taking some private initiatives by aiming at private individuals, commodity traders who do not have anything to do with government. He said some private individuals are now trying to bring in oil to support TOR and those are their targets.